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Finding the next crypto to explode is a never-ending task; that’s why today’s article provides a quick overview of the performance of promising tokens in the last 24 hours. Are there crypto coins that are primed to become the next cryptocurrencies to explode?
In this review, we’ll take you through the crypto market and explore the trend of selected tokens in the last 24 hours. The goal is to spot pointers that might show if these tokens are on the explosive growth path.
Next Cryptocurrency to Explode
While the review focuses on cryptocurrencies’ daily performance, it still considers several other fundamentals. Therefore, care has been taken to analyze each coin featured below comprehensively. Furthermore, the review is not limited to cryptocurrencies that are already listed on exchanges. It also includes upcoming projects with the prospect of impressive growth. With that said, investors are invited to journey with us across the market as we explore the next cryptocurrencies to explode.
1. Fantom (FTM)
Fantom raked in explosive gains early this morning, pumping its price by nearly 3%. The sudden increase in the asset’s price comes as a surprise amid the declining price of crypto assets across the board. It’s even more surprising when the overall performance of FTM in the last 30 days is factored into the analysis.
FTM’s price has recently declined for many days of the month, falling from $2.5 to $0.19. However, today’s gains may have opened the path to an upwards trend for the falling token. In the last 24 hours, FTM has seen a price boost, increasing its price to $0.22.
While the bearish pressure still rages on, Fantom investors and the crypto market may watch for a change in the crypto trend. According to the data obtained from its chart, its RSI across several time frames reveals that the token is more primed for an uptrend, and the bars might receive a pushback from the bulls in the new week. Now might be the best time to buy the FTM token before it swings into an uptrend.
Even FTM bulls are yet to make moves, as indicated by the moving averages; the moves might be expected any time soon. The trend of the early hours of today suggests that the bulls are already picking interest in the token. FTM will likely become the next penny crypto to explode in the coming week.
2. Maker (MKR)
Will Maker swing back into the explosive growth path? The maker has earned a name for itself as one of the biggest gains in crypto this year, as the cryptocurrency pulled in over 100% gain in less than 90 days.
A post on Maker’s official Twitter hand reveals that the platform has recently printed some impressive numbers.
MKR was on its way to having an explosive Q3 before the bearish market of Thursday hit, sending the token’s price tumbling by nearly 10%.
MKR may be back on its uptrend; this time, it might become the next big crypto to explode. Its chart reveals that it has cleared the resistance at $1091, and nothing stops it from reaching as far up as $1300.
Again, it’s best to note that MKR’s relative strength index recently moved away from the oversold range, meaning that the token will still be able to maintain an up trend for a while. Similarly, the signals from its price analysis indicate a bullish signal as the 10-day ema remains above the 200-day ema. The coming week might see MKR pushing for more gains.
Maker Protocol and DAI weekly metrics are out!
Stay up-to-date with the latest numbers for the Maker Protocol and DAI in a smooth presentation.
Here are the graphs from this week
— Maker (@MakerDAO) August 18, 2023
Despite MKR’s positive outlook, investors should remember that the token is susceptible to high volatility. A change in the overall performance of the crypto market would result in significant movement in the token’s price. Hence a well-researched strategy is advised when dealing with MKR.
3. The Graph (GRT)
GRT is another cryptocurrency that might be on the path to becoming the next penny crypto to explode. The token makes the list of the next cryptocurrency to explode due to its performance in the last 24 hours. Additionally, its trading volume has risen in the same period, with its value increasing by over 50%.
GRT saw a boost of over 3% today, bringing the asset price to $0.093. Furthermore, GRT tested the $0.095 range before returning to its current price. The market can expect a short rally from GRT in the new week.
The chance of a rally increases as the token surpasses the $0.092 resistance and is headed for a higher price range. The token may end Q3 with its price above $0.1.
Another factor that might contribute to the increase in the price of GRT in the coming week is the aggressive industry-wide expansion that’s going on in the network through its subgraph.
👀Big news from @streamingfastio!
The Substreams beta integration with @arbitrum is complete⚡️
Check it out ⬇️ https://t.co/31CtkkMUsT
— The Graph (@graphprotocol) August 17, 2023
Ultimately, the GRT trend still unfolds as the week progresses; its direction and performance will become much more predictable. But at press time, it’s safe to say that GRT is one of the next cryptocurrencies to explode.
4. SUI (SUI)
SUI is positioning itself as the cryptocurrency of creators. With the exploding creator economy, especially in the web3 space, SUI may become the next upcoming crypto to explode with the trend.
The project recently took initiatives that might help it kick into explosive trends. Information on its official Twitter hand reveals that the Sui platform offers the SUI kiosk for creators to control their creativity and sales. The kiosk also comes with built-in royalties.
One thing that distinguishes the SUI kiosk idea from other NFT initiatives that have gone ahead is the focus on putting the control in the hands of the creators. With that, the marketplace loses its power over the intellectual properties of the creators. They will now be able to set the rules that govern their projects.
The activities around the network have resulted in a spike in SUI’s price and trading volume. The token recorded over 150% spike in value in the last 24 hours.
The only drawback with SUI, however, is that its value has been declining for some time now. It might influence how it responds to the current surge. Its chart reveals that the token has been trading much lower than its listing price.
🚨We’re putting creators first – enabling more control over the digital assets you create and sell.
— MystenLabs.sui (@Mysten_Labs) August 18, 2023
It might result in a massive dump as the SUI price increases. Hence, investors should watch the trend closely before making a decision. Nonetheless, the new week would see the value of the asset climbing upwards.
5. Chimpzee (CHMPZ)
Is Chimpzee the next penny cryptocurrency to explode? It’s not difficult to predict that this upcoming cryptocurrency might become the next big coin, especially in social entrepreneurship.
The trend of its presale shows that the project is off to a good start, and if the team keeps up the pace, they might set a new direction for how the worldviews social impact.
In a few weeks of the presale program, the project rolled out multiple initiatives toward saving the forests and the animals that inhabit them. One of the more recent initiatives is to protect the 1000 sq meters of the Australian rainforest and the animals that reside there.
According to the presale page, the team will burn 1 billion CHMPZ tokens if it can achieve its goal. Invariably, the Chimpzee Army benefits by participating in the mission. The value of the tokens goes up with every burn executed on the platform.
There are a lot of fun and rewarding activities on the platform, and investors still have a chance to participate in the presale before the Chimpanzee platform fully launches. At presale, investors can buy at $0.00085, but the price is inflationary. Hence, it will soon increase to $0.00095. When it reaches $0.00185, the token goes live on exchanges.
Additional information is available on the Chimpzee presale page.
Visit the Chimpzee presale.
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