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Cryptocurrency prices have been on the rise lately, and the overall feeling in the market is favorable. Recently, Bitcoin (BTC) has been hovering around $60K, and Ethereum (ETH) is striving to approach $3,000, creating mixed sentiments among investors.
Identifying the next cryptocurrencies to explode might take work, as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Base Dawgz, one of the newest memecoin launches on the Base Network. It features a distinctive multi-chain experience with smooth interoperability across various blockchains. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Flux (FLUX)
Flux has recently gained 6% in value over the last 24 hours, making it one of the day’s top performers. This surge has captured significant market attention, with analysts predicting even more growth. Flux has a fully diluted market value of around $232.789 million and a volume-to-market value ratio of over 40%, indicating strong liquidity.
Flux is a proof-of-work cryptocurrency that powers the Flux ecosystem. The ecosystem is designed to support Web3. FLUX is used for transactions, staking, and rewarding Masternode operators within this ecosystem.
On the weekly chart, Flux recently bounced from a key support level. Since September 2023, the $0.40 support level has held firm, and Flux has tested this level four times. The latest bounce suggests a continued rise, especially with the RSI indicator forming a double bottom pattern in the oversold region, signaling potential upward movement.
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Analysts have set potential price targets for Flux at $0.96, $1.05, $1.20, $1.44, and $1.65. The current support level is $0.82; if it holds, Flux could reach a new peak. Flux could hit a target price of $3.0397 if the momentum continues, marking a 474.83% increase.
2. Uniswap (UNI)
Uniswap, a well-known name in the crypto world, is struggling during this bull cycle. Due to increased activity on its DEX platform, expectations were high for Uniswap to return to its 2024 highs. However, this hasn’t happened, as most trading has stayed on centralized exchanges. Instead of climbing back to its previous $15 levels, Uniswap’s price is stuck around $5.9.
Despite these challenges, there are signs of potential whale accumulation, with Uniswap’s market cap holding steady at $3.551 billion, placing it at #23. The price has stabilized, showing a modest 2.45% increase in the last 24 hours. However, Uniswap still has a long way to go, as it saw a 9.79% decline last week, dropping to $5.92.
The recent increase in trading volume by over 12% suggests that a price surge of more than 10% could be on the horizon. The UNI price shows signs of recovery, aiming to reach the 20-day EMA mark. After weeks of poor performance, the altcoin shows a reversal pattern, potentially staging a comeback. The formation of a base around the $5.20 mark indicates that Uniswap might have completed its retracement phase and is ready for a rebound.
Just checked the chain:
98.9% of all new DEX pairs on Base launch on the Uniswap Protocol 🔵 pic.twitter.com/LNycKetmv7
— Uniswap Labs 🦄 (@Uniswap) September 1, 2024
If demand picks up, UNI could target the 50-day EMA mark near $7, potentially triggering a reversal. However, the Relative Strength Index (RSI) is still below 50, indicating weak buying pressure.
3. Helium (HNT)
Helium (HNT) has stood out among the top 100 cryptocurrencies, achieving a remarkable 47% increase in August despite the overall market downturn. This strong performance suggests HNT could continue to do well in the coming months, making it a coin worth watching closely.
Currently, HNT is trading between $6.33 and $8.01, key levels where the price has consolidated. The next significant move for Helium will depend on whether it can break through the $8.01 resistance level. If the bullish momentum continues, HNT could surpass this resistance, potentially pushing its price towards $9.00, offering further gains for investors.
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In the face of rising volatility, Helium has defied the bearish trend with a 7.63% surge. A bullish engulfing candle pattern suggests that Helium may be on the verge of a breakout to a new 52-week high this week. Following this price increase, HNT’s daily trading volume jumped by 56.56%, reaching $23.39 million. With a market cap of $1.21 billion, Helium ranks #59 in the crypto market. Its strong performance during the broader market recovery has set its sights on a potential $10 breakout this year.
4. Curve DAO Token (CRV)
Curve DAO (CRV) recently saw a slight price increase, which might be a good opportunity for investors. The altcoin has been dealing with market volatility in line with broader trends, but it still offers a chance for those who missed the initial dip. CRV’s price is currently within a demand zone, suggesting strong buying interest at this level.
In the past 24 hours, CRV experienced a notable 2.65% price surge. This rise comes after the token’s inflation rate dropped to 6.35% on August 12, reigniting investor interest and setting the stage for potential growth. A lower inflation rate means fewer new CRV tokens are entering the market, which can drive up the price.
The reduction in token supply is expected to positively impact CRV’s price, which has fallen by over 35% since its launch. Typically, a decrease in supply and rising demand lead to a price increase. On August 13, rumors of the inflation rate drop spurred trading activities, causing daily trading volume to jump by 71.90% to $244 million, a two-month high. This surge in volume reflects strong market interest in CRV and supports its recent double-digit price increase.
If CRV continues its bullish momentum and surpasses Leadership Area B on the Ichimoku Cloud, the token could reach $0.44 or even rise to $0.54. However, if the market turns bearish, the price might fall below the Ichimoku Cloud, potentially dropping to $0.18.
5. Base Dawgz (DAWGZ)
Base Dawgz ($DAWGZ) recently wrapped up its token presale, raising nearly $3.2 million in just over two months. The $DAWGZ token will launch on a decentralized exchange (DEX) on September 4 at 5 p.m. CET. However, interested investors can still buy tokens at the listing price for the next 28 hours.
The $DAWGZ presale has ended!
You are still able to buy the token at listing price if you so wish. Please stay tuned for more info.
DEX launch date: 4 September 2024, 5pm CET 🪂 pic.twitter.com/B9gFx6Yju6
— Base Dawgz (@BaseDawgz) August 28, 2024
Before $DAWGZ is available to the wider crypto market, early investors have a final chance to purchase tokens at the listing price of $0.008582. This early investment offers a prime opportunity, as $DAWGZ is expected to see a significant price surge once trading begins.
For those still considering, now is the moment to act. With strong presale funding and the potential to become the Shiba Inu ($SHIB) of the Base network, $DAWGZ is set for notable price growth. Its innovative approach has already drawn considerable attention, with platforms like ReadWrite and InsideBitcoins calling it a “100x potential coin.”
Base Dawgz stands out with features that go beyond the Base network. Through integration with Wormhole and Portal Bridge technology, $DAWGZ offers multichain functionality, allowing it to be traded across Base, Ethereum, Solana, Avalanche, and Binance Smart Chain (BSC). This broad reach provides $DAWGZ access to extensive liquidity, a major advantage over tokens limited to a single chain.
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