Earning significant ROI in a bull market could mean paying attention to the meme coins and Altcoins with explosive potential. However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets.
Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token. Also included in the post is an overview of the market trend of crypto assets, which have the potential to post significant gains in the future.
Next Cryptocurrency To Explode
It’s that time in the market when investors and traders take a position to either edge their gains or capitalize on emerging trends. Experts believe investors have a better chance of finding the next cryptos to explode among upcoming crypto projects. With that in mind, investors should explore the potential of Mega Dice. The project aims to reward current casino users with many benefits while drawing in new ones. Updates on the project and its prospects are shared below.
1. Injective (INJ)
Injective Protocol (INJ) is gaining attention as a top platform in the DeFi space. It stands out for its decentralized exchange (DEX) features and focus on derivatives trading. With zero gas fees, cross-chain compatibility, and fast transactions, INJ offers an appealing option for traders and developers, especially compared to Ethereum. As the need for efficient DeFi solutions grows, INJ could see increased adoption and a rise in value by 2024.
Despite a 75% price correction during the six-month crypto downturn, this pullback has brought INJ to solid support levels. It’s worth noting that such corrections are often needed after a massive price surge. INJ saw a 4,000% increase in just 15 months, so this drop helps stabilize the market.
The key support levels are $16.60 and $13.30, which are expected to hold. If the price bounces from here, it could break the descending trend line and signal an upward move. The only concern is the weekly Stochastic RSI, which points downward, indicating weak momentum. However, if the bounce continues, this indicator could turn around.
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— Injective 🥷 (@injective) September 9, 2024
Currently, INJ is trading at $18.90 and could test $20 or higher soon. According to IntoTheBlock’s IOMAP indicator, which compares the current price to the average purchase cost, INJ could continue its upward trend as many addresses are still profitable.
2. SuperVerse (SUPER)
SuperVerse’s token, SUPER, has surged over 17% in the last 24 hours, thanks to the upcoming launch of a new Web3 action game on its platform. This surge has brought attention to SuperVerse (SUPER), making it the top-performing cryptocurrency among the top 300 digital assets.
SUPER’s price jumped from $0.731 to $0.855, marking the highest level since June 13. The token’s market capitalization also climbed to $385 million, ranking it as the 153rd largest digital asset globally, according to CoinGecko.
SuperVerse is focused on developing cutting-edge Blockchain products, with SUPER at the heart of its ecosystem. The token plays a key role in revenue generation and supports various functions within the platform.
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One of the main reasons behind SUPER’s recent rise is the anticipation surrounding the release of a new Web3 public game on the platform, launching on September 12. The game, which features combat-based territorial warfare and offers 30 million tokens in rewards, has boosted excitement and bullish sentiment for SUPER.
Another driver of the price increase is the growth of TON Station, SuperVerse’s web3 gaming platform on The Open Network (TON) blockchain. With over 6.3 million users, the platform’s success has further fueled optimism. This resulted in a 330% rise in trading volume within 24 hours, strengthening the bullish outlook for SUPER.
3. Mega Dice (DICE)
Mega Dice is making waves in the decentralized gambling space as its DICE presale enters the final phase. The presale has already raised over $1.8 million, showing growing interest from investors who see potential in the project. Mega Dice aims to combine traditional casino gaming with blockchain technology, offering over 4,000 games on its platform. Its user-friendly interface appeals to a wide audience, merging crypto investments with online gaming.
During this time, Mega Dice is also running its third airdrop season. Investors who buy and stake DICE tokens can participate in a $750,000 airdrop. To qualify, participants must wager at least $5,000 within 21 days, adding an interactive element to the airdrop and encouraging user activity.
As the presale nears its end, the project will receive wider promotion from key opinion leaders (KOLs), which could boost attention. This strategy reflects Mega Dice’s goal to combine blockchain with an exciting user experience.
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After the presale, more airdrops are expected when DICE is listed on decentralized exchanges (DEXs). Looking ahead, Mega Dice plans to expand its platform by introducing futures trading with leverage up to 1000x, adding more value beyond gaming.
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4. MANTRA (OM)
MANTRA (OM) is showing signs of recovery, trading from $0.94 to $1.02. Although the resistance at $1.01 has only been lightly tested, the coin is in a consolidation phase. Its 10-day and 100-day moving averages are $0.89 and $0.94, respectively. The RSI of 39.70 and stochastic of 32.99 suggest OM is oversold, indicating the possibility of a strong rebound soon.
If OM breaks through its resistance, it could see gains of over 100%, making it a promising option for future growth. This technical outlook paints a positive picture of the coin’s trajectory.
In 2024, MANTRA gained attention for meeting regulatory standards while being built for institutions and developers. It operates as a permissionless blockchain but supports permissioned applications. The Cosmos SDK, IBC, and CosmWasm compatibility ensure smooth communication and robust smart contract functionality. With a sovereign PoS validator set for security, MANTRA supports up to 10,000 transactions per second, making it highly efficient.
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Additionally, MANTRA offers tools for handling regulatory-compliant real-world assets. It aims to bring traditional users and institutions into the Web3 world, offering an improved user experience. This design positions it well as demand for regulatory-compliant blockchain solutions grows.
Currently, OM is trading at $1.02, showing a slight intraday increase of 0.91%. It is performing well technically, trading above the 200-day moving average, which typically indicates a long-term bullish trend. With 15 positive days in the past 30 days, OM shows consistent performance and resilience.
5. Drift (DRIFT)
Drift operates on the Solana blockchain, offering a decentralized exchange (DEX) with various trading options and earning opportunities. It focuses on perpetual futures contracts, allowing leveraged and speculative trading without expiration dates. Additionally, it provides spot trading for direct asset purchases and swap trading for easy asset exchanges.
Users can also earn by lending, borrowing, and staking in the insurance fund. This variety of options caters to different trading strategies, increasing user engagement.
Recently, DRIFT saw a 16.06% price surge, signaling strong short-term interest. The market is quite active, with a liquidity ratio of 0.3897 and a current price of $0.5394. However, its 14-day RSI of 100.00 indicates the token is overbought, suggesting a potential pullback soon.
Drift has also introduced prediction markets to its platform. Announced on August 19, this feature lets users bet on event outcomes, similar to Polymarket. Drift’s B.E.T. adds a decentralized finance twist by allowing users to earn yield on their trades as events unfold. Additionally, users can hedge predictions through “structured bets,” such as going long on a prediction while shorting Bitcoin (BTC).
Drift’s prediction market has seen a 3,398% increase in trading volume in just one week, surpassing altcoins like PolyMarket, signaling a growing interest in the platform’s unique offerings.
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