Join our Telegram channel for instant news updates. Earning a significant return on investment in a bull market could mean focusing on meme coins and alt coins with breakout potential. However, identifying the next cryptocurrency that could break out can take some effort as most funds are attracted to the driving assets.
Today’s article explores the performance of the cryptocurrencies that have dominated the gainer list over the past 24 hours. The aim is to identify the next cryptocurrency that could break out and provide investors and traders with relevant information about each coin. The article also includes an overview of crypto asset market trends that have the potential to achieve significant gains in the future.
The next cryptocurrency that could explode
At this point in the market, investors and traders take positions to secure their gains or take advantage of emerging trends. Experts believe that among the upcoming crypto projects, investors have a better chance of finding the next cryptocurrency that may break out. In this context, investors should explore the potential of Mega Dice. The project aims to reward current casino users and attract new users. Here is an update about the project and its prospects.
1. PAX Gold (PAXG)
At a time of heightened economic uncertainty, PAX Gold offers a stable option backed by physical gold. As investors turn to precious metals for safety, PAX Gold's tokenized gold ownership offers a digital asset that combines the stability of gold with the flexibility of cryptocurrency trading. Each PAXG token represents at least one ounce (t oz) of London 400 oz gold bars, securely stored in the Brinks vault in London.
Currently, PAXG/USD is trading at $2,332.97 having reached an intraday high of $2,338.67. If buyers can keep the price above the 9-day and 21-day moving averages, the market is likely to move higher.
On the daily chart, PAX Gold is approaching the $2,345 resistance level, indicating additional upside potential. Buyers need to ensure that the price remains above these moving averages and the trend is upward to signal a buy.
If the buyers can keep the price above these moving averages, PAX Gold is likely to head towards the upper boundary of the channel with possible resistance levels at $2,500, $2,550, and $2,600. Conversely, if the price breaks below the lower boundary of the channel, support levels are likely at $2,150, $2,100, and $2,050.
2. Ethereum Name Service (ENS)
Cryptocurrency analytics firm Santiment recently studied three altcoins and highlighted common trends between them. According to their analysts, Ethereum Name Service (ENS) showed significant network growth, with a significant increase in the number of newly created wallets. They believe that these increases in new addresses are either driven by FOMO (fear of missing out) on price increases or an expected bullish movement.
Analysts mentioned that the recent surge in the number of ENS wallets is due to FOMO caused by the price increase. After four months of consolidation, ENS bulls broke through the key $30 mark and the target is now $50. Buyers have gained confidence and hold long positions, while sellers seem to be trapped in short positions.
ENS is a distributed, open and scalable naming system based on the Ethereum blockchain. It converts human-readable Ethereum addresses like john.eth into machine-readable alphanumeric codes for use in wallets such as Metamask.
The goal of ENS is to simplify human access to the Ethereum-based Internet, similar to how Domain Name Service (DNS) makes the Internet more accessible. Similar to DNS, ENS uses a dot-separated hierarchical naming system called domains, and domain owners have full control over their subdomains.
We're celebrating the ENS rebrand at #ETHCC on July 8th in Brussels! Celebrate with us and get some limited edition merch. Confirm your attendance at the following link:
https://t.co/tI89kfiViD
— ens.eth (@ensdomains)
July 3, 2024
As of now, the ENS token is trading at $25.63, showing an intraday loss of approximately 6%. However, the weekly, monthly, and yearly charts show strong buying power. ENS is ranked 74th in the market cap ranking with a market cap of $813.21 million. Analysts remain optimistic and suggest that the token may soon reach the $50 mark.
3. Mega Dice (DICE)
Mega Dice is a GameFi cryptocurrency project on the Solana network that has recently attracted attention for raising over $1.5 million, approaching the $2 million mark. The project aims to combine gaming and cryptocurrencies to attract gamblers and DICE token holders on its platform. The DICE token is currently priced at $0.086 and will rise in the next three days. Potential investors are encouraged to participate before the price moves.
Mega Dice also launched a Refer and Earn program. This program rewards users for introducing new participants by earning a portion of their referral payouts. In addition, the project has implemented a significant airdrop strategy, distributing $2.25 million across three quarters.
Season 1 focused on active players who staked at least $5,000 over a 21-day period, offering a $750,000 reward pool. Season 2 ended on June 28, and Season 3 continues these incentives, offering an additional $1.5 million in rewards for activities leading up to the DICE token launch.
By staking, token holders can also earn rewards, paid daily based on the casino’s profits. Mega Dice also offers NFTs to VIP players and a referral commission of 25% to promote engagement and participation on the platform.
In conclusion, Mega Dice presents an interesting opportunity that combines the intersection of gaming and cryptocurrency, with multiple incentives and reward mechanisms designed to attract its users.
Visit Mega Dice Presale
4. Fasttoken (FTN)
FTN is the native currency of the Bahamut blockchain and has several unique features. It serves as Bahamut's gas unit, facilitating staking and block creation and validation. In addition, its ability to operate across chains enhances its potential for growth and innovation.
Initially released as an ERC-20 token, FTN is more than just a cryptocurrency. It is a utility token within the SoftConstruct ecosystem that allows users to conduct various businesses using SoftConstruct’s products and services.
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