The best cryptocurrencies to buy, the next cryptocurrencies to explode

Although financial markets expect the October rate decision to remain stable, a hike in November remains a possibility, depending on inflation trends observed in the third quarter.

Monetary policy issues that plague global finance are important determinants of cryptocurrency activity. They play a large role in determining how fair the market is and which assets become the next explosive cryptocurrency.

PEPE

Pepe has become one of the strongest memecoins in the cryptocurrency market. The coin looks good in the market and is one of the best cryptocurrencies to buy right now. Apart from being a memecoin, it also has a project with a mission to explain its current market run.

PEPE is a deflationary meme coin launched on the Ethereum blockchain that pays homage to the beloved Pepe the Frog internet meme created by Matt Furie. The meme coin has entered the cryptocurrency space, aiming to capitalize on the popularity of meme-based crypto, following in the footsteps of famous projects like Shiba Inu and Dogecoin.

PEPE is unique in that it implements a tax-free policy, establishes a redistribution system that rewards long-term stakeholders, and adopts a destruction mechanism to maintain the scarcity of PEPE coins.

In a relatively short period of time, from late April to May 2023, PEPE experienced an explosive surge in value, causing its market cap to peak at $1.6 billion. This rapid rise created millionaires among early investors and fostered a strong community of like-minded enthusiasts. This phenomenon is often referred to as "memecoin season" because it triggered dramatic price swings in other memecoins, some of which were launched within hours of PEPE's success. The future trajectory of PEPE and other memecoins remains uncertain, but optimism among its supporters is high.

The PEPE project has outlined a roadmap consisting of three distinct phases. Phase one includes being listed on CoinMarketCap and becoming a trending topic on Twitter. Phase two aims to secure a listing on a centralized exchange (CEX), while phase three features a “tier-one” exchange listing and a strategic “meme acquisition” program. The achievement of these milestones could play a major role in shaping PEPE’s future in the cryptocurrency space.

DYDX

The dYdX token saw price gains on Monday. The asset benefited from gains in the overall market and, by extension, other assets including Bitcoin, Bitcoin SV, ThorChain, and eCash. The token rose to a high of $2.06, surpassing last week’s low of $1.85.

dYdX is one of the largest decentralized exchanges in the world, handling a large amount of cryptocurrency trading volume every day. Therefore, like centralized players such as Coinbase and Binance, dYdX thrives during periods of positive performance in the cryptocurrency market. Generally, most people tend to buy digital assets when prices are rising.

There are two key factors that could drive dYdX token prices higher. First, dYdX has begun transitioning its V4 network to a testnet as developers work to launch the dYdX chain as soon as possible. The upgrade is designed to make transactions faster, more efficient, more economical, and more decentralized.

This new version is built using Cosmos technology, which is known for its security, interoperability, and low transaction costs. As a result, some analysts speculated that dYdX may announce the launch schedule during the ongoing Cosmoverse event.

dYdX’s first token unlock took place today, with developers releasing 2.16 million tokens worth over $4.63 million.

The daily chart shows that the dYdX token has been moving sideways for the past few months, with support at $1.771 and resistance at $2.253 since July 7. The token recently moved slightly above the 25- and 50-day moving averages, while the relative strength index (RSI) has crossed above the neutral level of 50.

Therefore, the dYdX token is likely to continue trading in this range for the next few weeks. A bullish breakout would be confirmed if the price surpasses the $2.25 resistance level, while a bearish breakout would be confirmed if the price breaks below $1.77. Bulls are encouraged to double down on the current gains and make DYDX the next explosive cryptocurrency.

Cardano (ADA)

Cardano is a proof-of-stake blockchain platform with a mission to empower changemakers, innovators and visionaries to foster positive global change. The project operates on an open-source model and aims to shift power from unaccountable structures to individuals and the margins of society. The principles of security, transparency and fairness are fundamental to this vision.

Founded in 2017, Cardano takes its name from two historical figures: 16th-century polymath Gerolamo Cardano and 19th-century mathematician and world’s first computer programmer Ada Lovelace. Cardano’s native token, ADA, helps enable network participation and governance. ADA holders can vote on proposed software changes, giving them a say in the platform’s development.

Cardano is known for its layered blockchain architecture, providing modular features that support decentralized applications (dApps) and smart contract development. One of its key milestones was the Alonzo hard fork in September 2021, which introduced smart contract capabilities to the platform. After this upgrade, Cardano's price rose sharply, up 116% in a month.

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