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The cryptocurrency market remains volatile after the Bitcoin halving, with some coins struggling to rebound. Bitcoin (BTC) is gradually climbing back above $60,000, hoping to find support for the next big move. Investors need to stay alert during this consolidation phase as this could be an opportunity to capture an uptrend.
Institutional investors are now more focused on interoperability and tokenizing real-world assets. The prices of these assets are rising, even before the market fully takes off. The goal is to find the next cryptocurrency that may break out and provide investors and traders with information about each token.
The next cryptocurrency that could explode
In the coming month, the attention of the cryptocurrency market will be on the altcoin sector and taking advantage of the Bitcoin halving market. Therefore, investors can take advantage of this opportunity to build positions in upcoming tokens like 5th Scape. The project aims to change the way users interact with virtual environments by combining innovation with entertainment. This article covers the details of its pre-sale.
1. Litecoin (LTC)
Litecoin started to recover after trading close to the $75.00 support level and it broke the $78.00 and $80.00 resistance levels.
According to TradingView, Litecoin’s price has fallen by 19% in the past month, causing many holders to lose money. However, during this decline, large investors bought more Litecoin.
Increased buying by large investors has made the market sentiment of Litecoin positive. Its value has increased by 2.61% in the past 24 hours. When this indicator reaches such a degree, it indicates that there is potential for price growth. Moreover, the growth in open interest indicates that the upward trend is likely to continue.
Recent survey results from a well-known payment processing company show a significant change in the way people use cryptocurrencies for transactions. By May, Litecoin had processed almost twice as many payments as Bitcoin, indicating that user preference for Litecoin is growing.
This change may be due to the rise in Bitcoin transaction fees. Reports indicate that the average Bitcoin transaction fee has risen to around $100, which may reduce people's willingness to use it for small, frequent payments. As a result, users are turning to cheaper alternatives like Litecoin, which offers similar blockchain benefits but without the high fees.
Despite the recent price drop of 19% for Litecoin, large investors remain optimistic and are buying more Litecoin. While market conditions are uncertain at the moment, the increase in open interest suggests that there could be opportunities for price increases in the future.
2. Toncoin (TON)
According to the experts at TradingView, Toncoin (TON) is a good buying opportunity in the short term. An analyst said that the outlook for Toncoin (TON) is positive due to the breakout of the falling wedge pattern and more trading. In addition, the price has surpassed a strong support area.
Toncoin (TON) recently broke out of the descending channel it had been in since April. Now, the price is retracing back to the old resistance level as support. Analysts believe that now is a good time to buy in the short term.
Currently, Toncoin is trading at around $6.05. Analysis suggests that the price could rise to around $10, which would mean an opportunity to make a profit of nearly 100%.
3. Dogeverse (DOGEVERSE)
Since the presale began, Dogeverse has quickly gained attention. The Dogeverse Twitter community has grown to 14,000 followers in just one month, showing continued interest in the market fluctuations.
What makes Dogeverse unique is that it uses multiple blockchain networks. This means that the token runs on Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base networks, providing unique advantages from both a technical and speculative perspective.
In addition, the project plans to list on major decentralized exchanges of these networks, increasing liquidity over time. This will make it easier to exchange tokens and trade on different blockchain networks.
The Dogeverse project is gaining more and more attention. Recently, it raised more than $13 million in funding and became a strong alternative to Dogecoin. The final stage of the pre-sale is underway, selling tokens at a discounted price of $0.00031 per coin.
People who buy Dogeverse using Ethereum can stake their tokens and earn rewards. The platform currently offers an annualized yield of over 70%.
4. Arweave (AR)
Arweave has recently gained a lot of attention from investors due to its strong growth, with a gain of 35.12% in the past week. It is currently worth $39.69, having gained 4.54% in the past day.
Arweave’s rise in value is linked to its newly launched blockchain, Arweave AO. This innovative move aims to improve efficiency and speed. Despite the volatility, Arweave (AR) has shown strong stability, staying above $30, hinting at the potential for more growth. With the Bitcoin market bullish, there are speculations that AR could soon reach $42.
Arweave's recent performance has been impressive. Its price has increased by 3,57% in the past year, surpassing 89% among the top 100 cryptocurrencies. This shows that AR has a promising future. In addition, Arweave was able to surpass well-known cryptocurrencies such as Bitcoin and Ethereum, showing its potential as a top asset with unique advantages.
According to Scopescan data, the number of transactions on Arweave exceeded 100,000 in the past month, which shows that AR is a very active blockchain project.
Technical signals also bode positively for Arweave’s price. AR is trading above its 200-day simple moving average (SMA), indicating a bullish trend and possible upside.
Additionally, Arweave’s current price is above its token sale price, suggesting that early investors have made decent profits, which boosts confidence and attracts new interest from the broader market.
5. Floki (FLOKI)
Today, the Floki Inu market had its ups and downs. It started with a sharp rise, reaching $0.000172. But it soon fell back to $0.000164. Despite the sudden drop, the price stabilized and remained at a fairly stable level. Despite concerns about the movements in the cryptocurrency market, people are mostly optimistic.
Additionally, the recent increase in prices suggests that people may be more optimistic, which could mean that the market will perform well soon.
Meanwhile, Floki and TokenFi will join forces to sponsor the upcoming T20 series between Pakistan and Ireland. As the main sponsor, their logos will be prominently displayed on elements such as the paddock boards, field screens, and boundary ropes during the live broadcast. The two companies hope to increase brand awareness by supporting this highly anticipated cricket series.
Separately, a large investor bought 19 billion FLOKI tokens. The news was noted by Scopescan, a well-known cryptocurrency transaction tracker. The news boosted the price of FLOKI despite the fact that sentiment in the market was not optimistic.
At the same time, FLOKI’s big whales withdrew about 18.76 billion tokens, worth about $3.28 million, from three major cryptocurrency exchanges: KuCoin, OKX, and Gate.io. This activity has sparked speculation about the plans of big whales and the future price of FLOKI.
According to Scopescan data, the withdrawal-to-deposit ratio of FLOKI in the past 24 hours was 86% to 14%. This indicates that a large amount of meme coins have been taken out of the exchange, and holders are confident in them, which may drive the token price up.
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