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Many altcoins are trying to get back to normal by posting significant gains. Meanwhile, Bitcoin (BTC) has returned to $60,000 and is still hoping to find support for its next big move. Investors should remain vigilant during this consolidation phase, as it could be an opportunity to take advantage of an uptrend.
The prices of these different assets are rising, even before the market takes off completely. That’s why today’s article is dedicated to identifying the The Next Cryptocurrencies to Explode and inform investors and traders about each token.
The Next Cryptocurrency Is Going to Explode
Savvy investors are stepping up to take advantage of the booming altcoin market and are taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period in American history with the cryptocurrency frontier. This article covers the details of its presale.
1. Wormhole (W)
Wormhole (W) is currently trading between $0.23 and $0.4. Over the past week, its price has increased by 10.38%, with a 10.67% increase over the past 24 hours. Despite a notable decline over the past month, the Wormhole price prediction remains bullish. The coin is trading 0.94% below its recent cycle high, but remains 44.50% above the low. Additionally, it has shown low volatility, at 19% over the past 30 days.
Wormhole’s market capitalization is $611.68 billion and its 24-hour trading volume is $38.38 million, which is a significant increase of 72.05%. This increase in trading volume suggests growing investor confidence in Wormhole’s ongoing developments.
Wormhole is known for its interoperability platform that supports multi-chain applications and bridges. It provides access to liquidity and users from over 30 major blockchain networks. This functionality spans various areas including DeFi, NFTs, and governance, making Wormhole a vital part of decentralized ecosystems.
The Wormhole network is trusted by major players such as Circle and Uniswap. To date, the platform has facilitated over $40 billion in transactions via over a billion cross-chain messages.
The Wormhole Roadmap pic.twitter.com/IdwdQUPFQb
— Wormhole (@wormhole) August 14, 2024
Currently, Wormhole is trading below its 50-day simple moving average (SMA). Despite this, the market sentiment around Wormhole remains positive. Technical analysis shows that even though the coin is trading below the crucial support level of $0.55, the trading chart hints at a potential bounce. With the anticipated upside, Wormhole price could reach $1.
2. Alliance for Artificial Superintelligence (FET)
The Artificial Superintelligence Alliance (FET) is trading at $0.9, reflecting an 8% increase over the past seven days. Investors are seeing their profits supported by positive on-chain data. Notably, the daily trading volume to profit and loss ratio has reached its highest level since July 27, at 2.4. Additionally, there has been a significant increase in the number of large holders, or whales, of FET Coin.
Data from Santiment shows that the number of addresses holding between 10,000 and 10 million FET tokens has increased by 16% in just seven days. This group now controls over 37% of the 2.52 billion tokens in circulation. The recent drop in Bitcoin’s price has impacted FET’s current value, which is also below its 20-day moving average. For Bitcoin to confirm the continuation of its short-term bullish trend, it needs to close above $63,000. At the time of writing, Bitcoin was trading at $60,940, with many altcoins seeing gains of 5% or more.
FET Coin could benefit from this positive trend. However, if the market turns bearish, FET could retest the $0.7 level, last seen during the August 5 decline. Conversely, returning to the $1 threshold could accelerate its rally towards $1.35.
🤖 Discover @Fetch_ai :The Future of Decentralized AI is revolutionizing the AI landscape with its decentralized machine learning platform, powered by a distributed ledger ecosystem. It enables secure global sharing, connections, and transactions… pic.twitter.com/BD2mFRWg47
— New to the Street (@NewToTheStreet) August 14, 2024
Fetch.ai (FET) has partnered with Ocean Protocol and SingularityNET to form the Artificial Superintelligence Alliance (ASI), a project valued at $7.5 billion. FET alone holds a market cap of $2.2 billion. In the last 24 hours, FET is up 9.30% and has surged 332.68% in the past year, now trading at $0.9. With the closest resistance at $1.0663 and support at $0.5763, FET has the potential for a sharp upside if it breaks above these levels.
3. Penalty Shootout with Shiba (SHIBASHOOT)
Penalty Shootout Against Shiba is a meme currency project that takes its community into a Wild West-themed digital world. It offers more than just a classic cryptocurrency investment. By mixing creativity, competition, and community spirit, it offers an engaging experience.
The project offers several innovative features designed to actively engage its community. For example, the Posse Rewards referral program encourages users to grow the community by offering bonus tokens for successful invites. Campfire Stories sessions also allow members to share their crypto adventures, with the most entertaining stories earning token rewards.
Shiba Shootout also focuses on community governance through its Token Governance Roundups, where token holders can vote on important project decisions. This democratic approach gives the community a significant role in shaping the future of the project.
🚀 Want to win big for free? 🎮 Discover #ShibaShoooutthe new #crypto game with huge rewards!
Check out the full video here: pic.twitter.com/qKC9EwAoWN
— shibashootout (@shibashootout) August 19, 2024
Additionally, the Lucky Lasso lottery system allows participants to purchase lottery tickets using Shiba Shootout tokens, with a portion of the proceeds going to support charitable causes. This feature adds the excitement of potential winnings while promoting social responsibility. Additionally, Cactus Staking offers users a fun way to grow their token holdings. By staking their tokens on a digital cactus, users can watch their rewards grow over time, adding a playful twist to the usual staking process.
Currently, Penalty Shootout Against Shiba is in its pre-sale phase, having raised $987,564.51 of its $1,699,291 target. The token is trading at $0.0199, but interested investors should hurry to get it at its current price as it will surge in less than three days. While the project is planning partnerships for its next phase, the main goal remains to build a solid foundation and a vibrant community.
Visit the Shiba Shootout Presale Now
4. Syscoin (SYS)
Syscoin (SYS) saw a significant surge of over 60% after Binance introduced the SYS/USDT perpetual contract. When new trading pairs are added to major platforms like Binance, the price of supported cryptocurrencies is often increased. Syscoin’s price reacted strongly to this announcement, surging over 60% in 24 hours. At the time of writing, SYS was trading near $0.16, marking its highest level since early June, according to CoinMarketCap.
This price increase has also boosted Syscoin’s market cap, which has surpassed $121 million at the time of writing. Trading volume has supported this surge, increasing by 220.39% to surpass $273 million. Additionally, the Moving Average Convergence Divergence (MACD) indicator has consistently displayed a green histogram, reflecting the increasing buying pressure in the cryptocurrency market.
📈 $SYS is now available for futures trading on three major exchanges: @Binance, @MEXC_Official& @Gate_io!
🎚️ Customers with access to these exchanges can now make trades based on predictions on #Syscoin with leverage up to 50x.
— Syscoin (@syscoin) August 19, 2024
Moreover, the Simple Moving Average (SMA) indicator has formed a positive line, suggesting that the SYS price could continue to rise. If the market gains more momentum, the Syscoin price could target its upper resistance level of $0.1630 in the coming weeks. However, if bearish forces take over, the altcoin could retest its crucial support level of $0.0670.
5. Solar Token (SUN)
SUN’s current price stands at $0.01209, which represents a significant increase of 19.69% over the last 24 hours. The market cap has also increased by 20.22%, reaching $120,757,724. The 24-hour trading volume has also surged by 158.20%, reaching $53,880,306. Additionally, SUN is trading 47.95% above its 200-day simple moving average (SMA) of $0.008192.
Despite a Fear and Greed Index of 30, indicating some level of fear, sentiment around SUN remains bullish. The recent increase in price and trading volume suggests growing optimism and a potential uptrend for the token.
SUN.io, TRON’s first unique platform, supports stablecoin exchanges, token mining, and self-governance. The new SUN token provides holders with various rights, such as voting, governance, value capture, and staking rewards.
With strong fundamentals and a supportive crypto community, SUN has significant growth potential. If the project secures collaborations with other networks, its price could surpass $0.1 by 2024. If the current bullish trend in the cryptocurrency market continues, the average cost of SUN tokens could reach $1 by 2025. However, if the market turns bearish, the price could drop to a low of $0.008 in 2024.
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