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Trends across the cryptocurrency market signal the return of memecoin season. Many of these assets could be the next cryptocurrencies to explode. Memecoins such as PEPE, DOGE, FLOKI, and others have seen a surge in gains during the current bull run. Surprisingly, many of these assets have seen price increases of more than 100% in the past seven days.
Despite the growing interest in memecoins and DePIN tokens, the driver of the current bull run is still Bitcoin. It is clear that Bitcoin sets the pace of the market, and owning a large amount of Bitcoin can offset any adverse effects caused by investing in the wrong time.
The next cryptocurrency to explode
As a result, the Bitcoin Minetrix team has developed a strategy that could revolutionize Bitcoin mining. The project leverages cloud computing as a means to democratize mining activity. The update below includes details on these projects and the performance of their ongoing presale.
1. Uniswap (UNI)
Does the current price reflect the value of Uniswap? Uniswap has recently attracted attention in the cryptocurrency market, with its price surging by more than 70%. The price increase stems from a recent announcement from its official Twitter account.
Since the announcement, UNI’s price has continued to trend upwards, pushing its price to $12. There is currently speculation that UNI could be one of the next cryptocurrencies to explode. Today, its price has grown by more than 5%, and its trading volume has increased by 28%.
What’s more interesting is that the token is trading close to the $13 resistance level. A breakout above this price would mean UNI could potentially move up to the $15 to $16 range. Based on the current momentum, investors can expect UNI to reach this price before the end of the quarter.
Despite the promising trend of UNI, investors still need to be cautious with this token. At the time of writing, UNI’s RSI reached 81, which means that the token is overvalued and may see a pullback.
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pic.twitter.com/yNNgiju5zj
— Uniswap Labs (@Uniswap)
February 27, 2024
In addition to its chart trend, another factor that could trigger a continued surge in the UNI token is the upcoming Uniswap extension feature. The team hopes that the wallet will be the first wallet that can be used in the browser sidebar. The release of the wallet may trigger a new round of Uniswap token surge. Investors should study the token to understand how it fits into their own strategy.
However, bullish signals remain relatively strong with the price trading below the daily and weekly moving averages.
2. FLOKI (FLOKI)
FLOKI has gained more than 70% in the past 24 hours, underperforming PEPE. It entered a massive rally today, pushing its market cap into the $1 billion range. In addition, its trading volume surged, with gains reaching 800%.
The coin’s outstanding performance has earned it the top spot on LunarCrush, far ahead of many other cryptocurrencies. Social trading has seen significant growth, with over 159% up in the past month. With the advent of the memecoin season, this trend is likely to continue.
Additionally, investors should keep a close eye on FLOKI’s performance this quarter, as a recent event could make it the next cryptocurrency to explode. A post on the official Twitter account described a vote by the Floki DAO on a potential withdrawal of more than $24 million worth of tokens from circulation.
$FLOKI
Has become a hot asset on LunarCrush, powered by the meme season. Social Interaction has gained 159.2% in the past month and is accelerating to new highs.
View all social metrics.
https://t.co/yjcN8saqP0
@RealFlokiInu
pic.twitter.com/mikgCKZl2E
— LunarCrush (@LunarCrush)
March 2, 2024
They reported that more than 1909,185,854,431.84 $FLOKI tokens will be destroyed. Therefore, investors can expect the price of this token to continue to rise in the coming days.
Another update worth noting is that FLOKI’s TVL recently surpassed $400 million, which is a major milestone for the community. As it continues to rise, FLOKI will continue to remain a token to watch.
3. Bitcoin Minetrix (BTCMTX)
With the Bitcoin halving just days away, the coin value could very well reach over $90,000 during this bull run. Therefore, investors who participate now are likely to see a significant ROI when Bitcoin hits new all-time highs.
Bitcoin Minetrix allows cryptocurrency investors to own Bitcoin by joining its cloud-based Bitcoin mining program. Through this project, the team hopes to democratize the mining process, enabling ordinary investors to mine Bitcoin without investing heavily in building infrastructure.
Currently, the project's native token, BTCMTX, is in presale at a discounted price of $0.0138 per token. With growing concerns about the energy consumption of the current Bitcoin mining process, a more democratized system like Bitcoin Minetrix will have a competitive advantage. This means that the value of its underlying token will increase as demand grows.
U.S. judge halts government surveillance amid environmental concerns
# Cryptocurrency
Mining energy consumption.
How can the cryptocurrency industry reduce its environmental footprint while continuing to innovate?
#BitcoinMinetrix
Also proudly revealed another…
pic.twitter.com/rMmyPaQnPw
— Bitcoinminetrix (@bitcoinminetrix)
March 1, 2024
So far,
BTCMTX Presale
It has already reached over $11.6 million and will soon reach the next milestone. Investors who participate in the project now have the opportunity to earn a significant return on investment after listing. Its pre-sale page provides a more detailed participation guide.
Visit the Bitcoin Minetrix Presale
4. Axelar (AXL)
AXL has gained more than 118% in the past 30 days and suddenly dropped to its current price after reaching about $2.57. Investors should keep a close eye on the coin as the growing price action on its charts suggests that the coin could see a dramatic uptrend.
The sudden surge in price stems from Binance’s announcement of support for AXL spot trading. Reported trading pairs include AXL/BTC, AXL/USDT, AXL/FDUSD, and AXL/TRY. The announcement was made yesterday, Friday, March 1, and withdrawals are scheduled to take place today, Saturday, March 2, at 11:30 UTC. The news caused Axelar’s price to surge and made it one of the next cryptocurrencies to explode.
Furthermore, data from AXL technical analysis shows that the current pullback is likely to be short-lived as its moving averages remain firmly below the current price. In addition, AXL’s MACD reading remains at a bullish level of 0.1872.
The growing popularity of blockchain technology is changing the world as we know it. The entry of institutional investors into the cryptocurrency market has triggered a massive disruption. The demand for interoperability is rising, and the prices of assets that provide such services are also rising sharply.
pass
@Filecoin
exist
@Uniswap
and
@SushiSwap
Easily trade axlUSDC + axlETH on
pic.twitter.com/7SQE5XYP0A
— Axelar Network (@axelarnetwork)
March 1, 2024
However, investors should be aware of the Axelar token launch, which will take place in about 24 days. This event will release 25.81 AXL tokens to the market. This launch accounts for more than 2.27% of the total supply of the token. In addition, it is valued at $50.54 million, accounting for 4.43% of the market cap. This launch could put downward pressure on the value of AXL.
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The next cryptocurrency to explode in 2024
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