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Recent market conditions show that there is a lot of buying pressure. Most traders are actively adding tokens to their portfolios, indicating a general belief that a bull market is imminent. This move has led to increased interest in altcoins as investors are now looking for the next cryptocurrency to explode.
This growing interest in altcoins signals a possible change in the direction of market movements. In this article, we compile a list of these tokens and provide investors with a summary of all the indicators they need to make smart investment choices.
Next Cryptocurrency to Explode
A bullish breakout is imminent as XRP approaches the peak of a macro consolidation. Meanwhile, VET has surged 11% and is currently trading at $0.04843.
Additionally, Meme Kombat is a notable project that investors should keep an eye on, and the price of GRT indicates that the cryptocurrency is now heading to the upside.
1. Ripple (XRP)
A bullish breakout appears imminent as XRP approaches the peak of its macro consolidation. If the price continues to close above the resistance level of 94 cents, the price of the altcoin could surge parabolically. However, the weekly automatic Fibonacci extension predicts significant resistance between 75 cents and 94 cents.
According to CoinMarketCap data, 2.869 billion XRP was exchanged over the past day for a total of $1.6 billion. This means that trading volume increased by 61% compared to the previous day. During this surge in activity, the price of XRP rose nearly 5%, reaching $0.559 this morning. After Bitcoin surpassed $50,000, the altcoin market as a whole saw a nice breakout. Nonetheless, technical research shows that XRP’s price trend is still unclear.
On a weekly basis, XRP’s Relative Strength Index (RSI) is striving to exceed 50, indicating a potential shift in favor of buyers. Additionally, the price of XRP is attempting to breach the weekly 200 moving average (MA), in line with the resistance/support level around 55 cents.
Today we are pleased to announce that Ripple has entered into an acquisition agreement. @Standard Custody, strengthening its product offering and adding to its growing portfolio of regulatory licenses globally. Learn more about our latest acquisition: https://t.co/JJp51mEabL
— Ripple (@Ripple) February 13, 2024
Recently, XRP announced that it had agreed to acquire Standard Custody. The move aims to strengthen Ripple’s product range and expand its collection of regulatory licenses globally. More information about this acquisition can be found on the Ripple platform.
Although the recent uptrend is promising, the future price movement of XRP depends on maintaining positions above important daily moving averages, especially MA 50 and MA 200. A sustained close above these levels could lead to further price gains and potentially push XRP past the $0.62 mark.
2. VeChain (VET)
Excitement surrounding VeChain has grown with the announcement of a major milestone that will be revealed at the MWC 2024 event in Barcelona. Although details have not been revealed, the protocol is poised to solidify its position in the broader technology landscape by driving sustainability. Speculation is rife about potential partnerships, including one with global consulting giant BCG.
On February 14, VeChain introduced Account Abstraction, a technology that enables custom interactions with the Ethereum (ETH) blockchain. This innovation improves interoperability and grants access to programmable smart contract wallets.
Additionally, in the past day VET has increased by 11% and is trading at $0.04843 as of this writing. Nonetheless, the encouraging pattern continues throughout the month. The token is up 61% in the past month and 65% over the past week, putting it in position to become the next cryptocurrency.
Account Abstraction (AA) is now available, opening up a whole new world. #VChain.
AA not only provides seamless interoperability, but also unlocks programmable smart contract wallets for better user experience and improved security.
Here’s what this means: $VET 🧵👇🏼 pic.twitter.com/SecJ6OwnGu
– VeChain (@vechainofficial) February 14, 2024
Despite potential hurdles, VeChain’s solid fundamentals suggest significant breakout potential following its recent 65% rally. With the unwavering support of VeChain enthusiasts and the broader cryptocurrency community, all eyes are on this blockchain powerhouse as it continues to make waves in the market.
3. Meme Combat (MK)
The general trend in the cryptocurrency market is growing interest in the GameFi initiative, and a number of top-rated tokens fall into this category. Currently, Meme Kombat stands out as a notable project that is attracting the attention of investors.
There are currently 37,251,521 MK tokens staked, accounting for 80% of all MK tokens in circulation. Staking offers an attractive Annual Percentage Yield (APY) of 106%. To date, 8,421,057 MK tokens have been distributed to stakers, with 12,077 individuals participating in the staking program. These statistics highlight significant investor interest and active participation in MK Tokens, indicating its future growth potential.
$MK It is showing tremendous growth and has an overwhelming lead. #memecoin space. Seize the opportunity and participate in pre-sale activities: https://t.co/2x2FvsuR61
— Meme Kombat (@Meme_Kombat) February 15, 2024
Additionally, Meme Kombat will reserve half of its token inventory for the MK pre-sale, ensuring inclusivity for all investors. Additionally, 30% of the supply will be allocated to staking and battle rewards to promote support and balance within the ecosystem. An additional 10% of tokens will be matched to a liquidity pool on a decentralized exchange (DEX). Finally, 10% of tokens will be reserved for community rewards, highlighting the importance of community participation and interaction through participatory battles.
However, investors are attracted to Meme Kombat because of its unique gaming features and passive income opportunities through staking. The pioneering staking mechanism minimizes user fees by blending on-chain and off-chain transactions, allowing users to stake or utilize tokens for battle within an integrated gaming platform.
Visit Meme Kombat Presale
4. Graph (GRT)
Graph Horizon, a proposal from Edge and Node, seeks to overhaul The Graph into a more accessible and efficient protocol. This change aims to integrate decentralized data into the web3 technology stack. By supporting a variety of data services and query languages, Graph Horizon promises to open new opportunities in distributed data usage.
Additionally, looking at the price of The Graph, we can see that the cryptocurrency is currently trending upward. The price gradually rose to $0.1717 over the past day, indicating an upward trend in the cryptocurrency market. Prices have risen steadily since launch, and further increases are expected in the near future. Interestingly, $0.2103 is an important resistance level for GRT, and a break above this barrier could lead to even bigger gains. At $0.1717, the market is currently positioned for a breakout.
Nonetheless, if the positive outlook for the cryptocurrency market continues, The Graph’s price will rise to all-time highs. Even though the bulls have stabilized support levels, breakout resistance still remains pivotal for further market gains. If the bulls succeed, The Graph is poised for significant growth soon. This suggests that the current GRT is ready for further expansion.
Graph Horizon is a proposal for: @edgeandnode Transforming The Graph into a more permissionless and efficient protocol to pioneer the role of distributed data in the web3 technology stack ⚡
Activate unlimited data services, query languages, and more ⬇️https://t.co/Qfspll95Sm
— Graph (@graphprotocol) February 15, 2024
According to technical analysis predictions for the price of the graph in 2024, the minimum price is $0.2070 and the maximum price is $0.2519. The average transaction price is expected to be around $0.2148, which positions the token as a promising candidate for significant growth in the cryptocurrency market.
In today’s news, Bitcoin’s recent market cap surpassed $1 trillion for the first time since November 2021. This milestone was achieved thanks to strong investment from the US Spot Bitcoin ETF, which is pouring money into the market and driving up the price.
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