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Although cryptocurrency prices have been falling for some time, the overall sentiment in the market remains positive. Bitcoin (BTC) recently rose above $62,800, and Ethereum (ETH) is working to stabilize above $3,000, providing some relief to investors.
But discerning Next Cryptocurrency to Explode This can be a bit difficult since most funds are attracted to asset pumping. In today’s article, we take a look at the performance of the cryptocurrencies that have dominated the rising list over the past 24 hours. The goal is to identify coins with potential and inform investors and traders about each token.
Next Cryptocurrency to Explode
In today’s article, we discuss the performance of cryptocurrencies with the potential to explode that investors should add to their watchlist. It also includes a special mention to eTukTuk, an eco-friendly cryptocurrency pre-sale where investors can stake their funds and receive instant staking rewards. Details of the pre-sale and the performance of the current top performing cryptocurrencies are shared below.
1. Graph (GRT)
GRT price showed a strong bullish movement, rising 76% in 24 hours, reaching a trading volume of $175.346 million. This means that the altcoin is up 12.70% in the last 24 hours and 21.94% over the past week.
Over the past day, the price of The Graph (GRT) rose 16.60%, reaching $0.3118. Several resistance levels are being tested and traders are eagerly awaiting a possible breakout.
Trader World of Charts suggests that the price could rise to $0.50 if it successfully breaks the resistance level. Alice Crypto also points out that GRT has broken out of the Falling Wedge Pattern, implying potential gains of up to 70% could occur soon.
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Additionally, MACD, a technical indicator, shows that buying pressure is higher than selling pressure in the cryptocurrency market. Additionally, moving averages display a bullish pattern, indicating that the graph token may soon continue to appreciate. If the bulls emerge, the price may test the $0.3550 resistance level by the coming weekend.
2. Dog We Part (WIF)
Solana-based meme coins have shown a significant rise, rising about 16% in the past two days after experiencing a month-long decline. Additionally, the price is approaching a resistance trend line, but it is unclear what will happen next.
The value of WIF increased by 12.3% over the past day, reaching $3.22. This resulted in a 24.68% increase in daily trading volume to a total of $467.6 million. Additionally, blockchain data tracker Lookonchain detected the activity of a large anonymous investor in WIF. The investor purchased approximately 1.4 million WIF tokens in the last 12 hours, spending approximately $4.18 million. Currently, the value of this token has increased by 7.7%.
Simple moving averages (SMA) indicate intense bullish activity in cryptocurrencies. The MACD histogram remains consistently green, indicating increasing buying interest in the cryptocurrency. The average upward trend indicates that bullish trading is likely to continue next week.
If the bulls break the resistance trend line, WIF price could target higher resistance at $3.90.
3. Ituk Tuk (TUK)
Ituktuk It is a leading eco-friendly cryptocurrency pre-sale where investors can stake their funds and receive staking rewards immediately. The main goal is to replace traditional internal combustion engine Tuk Tuks with electric variants.
The venture’s flagship business integrates AI, cryptocurrency/blockchain technology, and electric vehicles to pave the way for a sustainable transportation future. Initially targeting developing countries, the vision expanded globally.
Many people believe that eTukTuk is a promising investment due to its eco-friendly approach and expected market growth. Given that the project focuses on sustainability, investors and enthusiasts are expected to predict future demand.
From threatening ecosystems to accelerating climate change, the rise in air pollution is endless.
Let’s take action for clean air. #eTukTuk. pic.twitter.com/3IIfYh8m1I
— eTukTuk (@eTukTukio) May 8, 2024
Raised over $3.2 million in pre-sales; TUK Token The price is $0.0305. A price increase is expected within 6 hours from the time of writing. This limited period means potential investors must act immediately if they are interested. Tokens can be purchased using ETH, USDT or BNB or through credit or debit card transactions.
Visit the TUK pre-sale here.
4. Phantom (FTM)
The FTM token was created to improve collaboration between various trading platforms. To help the network process more transactions, it uses a smart contract platform called “Direct Acycling Graph” (DAG). People are interested in FTM incentive programs because they offer unique benefits. Some people wonder whether the FTM price will reach $1 in 2024.
At the time of writing, the FTM value is $0.7319, up 8.94% in one day. It fell 26.41% last month, but rose 6.39% last week. If the Fantom cryptocurrency remains above $0.7090, it is likely to reach $1 in the coming weeks.
Increased trading volume, new decentralized applications (dapps) launches, and the success of the 335 million FTM incentive program could pave the way for the digital currency to achieve unprecedented success. Volumes may increase further as markets show optimism and positive social sentiment.
7/ “In March, Phantom’s monthly DEX trading volume exceeded $1 billion for the first time since March 2023.”
💰 “Also, average daily DEX volume in March was $37.9 million, nearly seven times more than February ($5.7 million) and six times more than January ($6.6 million).”
— The Phantom Foundation (@FantomFDN) May 9, 2024
A growing investor base could indicate a favorable trajectory for FTM’s long-term value. With support from investors, the currency is expected to remain stable even during market downturns. Additionally, a surge in positive market activity could push the value of FTM up to $1.45.
5. Helium (HNT)
The price of helium has not risen significantly recently, but the price pattern suggests a potential breakout. After reaching the $4.25 support level, HNT price is testing the resistance trend line, indicating a possible breakout.
There is evidence of increasing bearish influence on the daily price chart, but overall market sentiment suggests a breakout rally. Despite the bearish pattern, the 10% rise in helium prices from the $4.25 support level suggests a breakout could occur. This bullish move is challenging the overhead trend line and a possible dead cross.
HNT reached $5.00 today at 8:00 EST, up 10.02%. The cryptocurrency is poised to cross the psychologically important $5 mark. As the reversal rally strengthens, HNT is expected to change direction and return to a bullish trend. The market, which is escaping from a downturn, is showing strength, suggesting the possibility of a new upward trend.
Analysts and experts predict that pent-up momentum could lead to a breakout rally reaching $10. However, there may be resistance at the $6 and $8 levels. If Helium (HNT) proves to be a sound investment in 2024, this year could be positive for the cryptocurrency.
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If market momentum and investor sentiment continue to improve, HNT could reach $20. Additionally, as the Helium ecosystem progresses through upgrades and advancements, HNT may surpass the all-time high (ATH) of $55.22 and set a new ATH.
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