Crypto market trends have been oscillating between different narratives since the market welcomed initial investors. Earlier this year, the narrative of artificial intelligence and Decrypt drove the best performing cryptocurrencies.
However, BlackRock’s involvement in the real-world asset tokenization space is gradually opening the door to a new narrative that could dominate the second quarter of this year. In addition, the growing interest of retail investors in altcoins and memecoins could also influence the trend of cryptocurrencies that explode in the coming months.
The cryptocurrency boom
GORILLA stands out in the memecoin space with features like IDO Launchpad and NFT integration. The bullish trend in recent trading and the current price of $0.005547 presents a compelling opportunity for investors.
Cardano (ADA) has great potential despite its recent price drop, and the MVRV ratio indicates that there is huge growth potential. ADA's emphasis on decentralization and its historical performance after Bitcoin's halving events further solidify its position as an asset worth watching. Today's article highlights projects with breakout potential and shares details that investors should consider.
1. Gorilla (GORILLA)
Unlike its peers, GORILLA does more than just offer a short-lived thrill. With features like an IDO Launchpad that provides strategic advantages to early backers, and a smart-enabled DEX exchange that provides an enhanced trading experience, GORILLA stands out in the crowded memecoin space.
Additionally, GORILLA differentiates itself from established giants like Bored Ape Yacht Club through NFTs. It promotes the evolution of meme tokens by combining broad appeal with substantial value.
The daily chart shows that bears controlled the market for most of March and April. However, the market has turned bullish since last night. Gorilla prices recently surpassed the monthly low, causing a trend shift in the bullish direction. The bulls are in control and the price is likely to continue to rise to higher levels.
Something big is about to happen...
#kingofthejungle
pic.twitter.com/5p0yLMjIqX
— gorillatokenio (@gorillatokenio)
April 5, 2024
Currently, GORILLA's real-time price is $0.005547, with a strong 24-hour trading volume of $4,808,678, an increase of 32.65%. GORILLA ranks 1314th on CoinMarketCap with a real-time market value of $4,653,846.
Some pessimistic views suggest that if the selling pressure continues to pull the price down, the price will drop to $0.002. However, based on the recent growth to $0.0055, the most favorable view suggests that the Gorilla price may exceed $0.0080 with an upside potential of 45.45%.
2. Cardano (ADA)
Despite the recent price drop, many experts suggest that now could be a good time to invest in Cardano. This optimism stems from the market capitalization to realized value (MVRV) ratio.
Cardano’s MVRV ratio recently fell below 22% for the first time since June 2023. Historical data shows that the last time such a drop occurred, ADA gained 75% in about a month. If history repeats itself, ADA could reach around $0.80 and could even exceed its all-time high of $2.
Analysts and investors hold a positive view as ADA is oversold in the market. The cryptocurrency will also break its third resistance at $0.489874, having previously surpassed the first resistance at $0.466449.
Additionally, Bitcoin halving events have historically led to significant price increases for altcoins like Cardano. After the 2020 halving, the increase in liquidity due to the rise in Bitcoin prices positively affected ADA. The coin rose from $0.05 to $3.10 in September 2021, a gain of 61,00%.
along with
# Cardano
As the era of autonomy approaches, it is important for ADA holders to understand the protocol parameters and their impact on the future of the protocol.
Check
@Hornan7
An in-depth analysis of Cardano governance
⤵️
https://t.co/wv66GE7FmH
— Cardano Community (@Cardano)
April 18, 2024
If Cardano follows a similar growth trajectory after the current Bitcoin halving, we can expect it to perform better than it did in 2020. Currently ADA is trading at around $0.48 and could surge to $27 if it experiences a similar growth of 6100%.
Additionally, Cardano’s emphasis on decentralization and ongoing development efforts have added to its price momentum. If Bitcoin’s success after its 2020 halving is any indication, ADA could see similar or even greater gains.
3. Ripple (XRP)
The recent sharp rise in the price of XRP has made investors hopeful. The rise came at the time of Bitcoin’s fourth block reward halving, which also led to a rise in other digital currencies. As a result, people are paying more attention to XRP, believing that it could rise further.
There has been a lot of discussion among enthusiasts and investors about the possibility of Ripple going public. Although we don’t know exactly when, many believe this could really change the price of XRP. Ripple’s CEO Brad Garlinghouse has mentioned the possibility of an initial public offering (IPO).
Cryptocurrency experts have made optimistic predictions for XRP, proposing high price targets based on Fibonacci levels. These predictions are consistent with XRP being in a support area and similar to its past market cycles. The price targets of $1.272, $1.414, and $1.618 have sparked discussions among investors, with some suggesting that XRP could soon surpass $1.2.
XRP derivatives have seen an increase in open interest, suggesting an expectation for large price swings. The increase reached $529.98 million, showing that investors are ready for major market changes. More market activity indicates investor confidence, suggesting a possible market shift.
1/ The stablecoin market is booming - around $150 billion today and expected to soar to over $2.8 trillion by 2028. The need for trust, stability, and utility is clear.
That’s why later this year we will be launching stablecoins pegged 1:1 to the US dollar on XRP Ledger and Ethereum…
— Ripple (@Ripple)
April 4, 2024
As of this writing, XRP is priced at $0.5173, having gained 3.12% in the past 24 hours. However, trading volume has fallen by 30.46% in the same period. The contrast between rising prices and falling trading volumes is striking and something that investors and strategists should pay close attention to.
4. eTukTuk (TUK)
eTukTuk has reached a major milestone in its pre-sale, raising over $3 million. Their goal is to promote sustainable transportation around the world. The main goal is to help developing countries by providing electric vehicles (EVs) and charging stations.
In addition, eTukTuk partners with key organizations to support its mission. These collaborations put eTukTuk in a strong position to promote sustainable transportation, with tuk-tuks being essential for everyday mobility and trade.
eTukTuk's pre-sale target is $10.7 million. They have planned the token distribution, with 21.5% used to reward investment and encourage long-term investment. Liquidity accounts for 7%, and 9.75% is used for pre-sale to ensure a balanced distribution.
In addition, eTukTuk intends to list its token TUK on exchanges after the pre-sale. This move is intended to make it easier for investors to buy and sell, demonstrating their commitment to real-time green initiatives driven by advanced technology.
As eTukTuk's momentum grows, its combination of sustainable solutions and innovative technology makes it attractive to investors seeking both environmental and economic gains.
5. Arweave (AR)
Arweave is a decentralized permanent data storage platform that has made considerable progress in the crypto industry since its launch. Its native token, AR Coin, has brought impressive returns to early investors in 2021, reaching an all-time high. The platform has gained wide acceptance in the community and has many uses.
The Arweave project has a clear roadmap for future development and is actively developing new initiatives to make AR Coin a promising long-term investment. The Arweave network is listed on major crypto exchanges such as Binance, Gate.io, and Coinbase, attracting positive attention from investors.
If the market can hold above the support level of $24.675, the price of AR is expected to rise and may test $45. Some experts even predict that the maximum price of Arweave (AR) may reach $68.16 by the end of 2024. In the case of market stability and bullish trend, the average trading price of AR may reach $63.58 by 2024.
RP
@Weavers_Org
:
$10k bounty available now ‼ ️
Which one would you choose?
@aoTheComputer
Bounty? Creativity or technology? Both?
Bounty details are here:
https://t.co/gfSPDwpDG4
pic.twitter.com/DO6TH0OUNk
— Arweave Ecosystem (@ArweaveEco)
April 18, 2024
However, if the crypto market experiences a major decline, AR Coin’s minimum price could drop to $57.66 in 2024. Conversely, a sustained bullish performance could lead AR Coin to a massive price increase in the second half of the year.
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