The price of Bitcoin continues to fluctuate as the market awaits the BTC spot ETF approval. Even though the price movement altered the overall performance of the crypto market in the past few days, market sentiment remains strong. Impressively, altcoins continue their push for a rally, with many of the top tokens printing double-digit percentage gains.
Next Cryptocurrency To Explode
In our review today, we will examine the performance of some of the top gainers in the last 24 hours. The goal is to update inventors about their values. Weβll also look at their future potential based on their technical and fundamental market data. At the same time, weβll explore the presale market to identify crypto opportunities investors can key into, especially as the uncertainties begin to return to the crypto market.
Lido DAO (LDO)
Lido DAOβs popularity in social media increased in the last 24 hours due to its price performance in the period. It was one of the few tokens in the top one hundred cryptocurrencies that kept a hold on its bullish trend throughout the day. Meanwhile, it continued its uptrend today with over 8% price increase in the last 24 hours. Also, its trading volume went up by over 32%. Hence, the token secured its place as one of the top gainers for the last 48 hours.
Impressively, LDO price has been on a progressive rise for over 90 days now with over 157% increase so far. And according to its market data, LDO is ready for more gains in the quarter. Firstly, the tokenβs current price reveals ongoing accumulation, keeping its long-term moving averages below its current price. Also, thereβs been an increase in the TVL of the token, as shown in a recent Twitter post.
Hence, LDO holders can expect the bulls to have the upper hand in the short and long run, particularly for the first quarter. Moreover, most of the oscillators reveal that the token has more bullish potential. For instance, LDO MACD readings return a value of 0.252, indicating a bullish momentum. On the other hand, however, its trend in the short run may switch in favor of the bears as there are indications that the token price will likely fall from its RSI reading. Nonetheless, investors should keep a close eye on LDO, as it has the potential to become the next cryptocurrency to explode.
Sponge V2 (SPONGE)
Sponge V1 achievement has a lot of degen investors smiling to the bank. For instance, the token amassed over $100 million market cap at its ATH. Additionally, it grew its community to about 13,000+ holders. Not to mention the over 10+ CEX listings and thousands of followers on social media. Sadly, many degen investors missed out on the low-hanging fruit, thus losing an opportunity to 100x their investment. However, the chance to make up for the loss is back again. Currently, the presale of Sponge V2 is in progress. V1 holders can position for the massive gain by staking their tokens on the V2 contract and investors who are not yet on board can do so by getting the V2 tokens ahead of its listing. At press time, the total value of staked tokens amounted to $2,939,319.84. Meaning that the community is willing to make the V2 a success.
Also, the Sponge V2 comes with utility included, unlike the V1. The aim is to boost the demand for the token and increase the avenue for community reward. According to its sales page, the V2 features the P2E model that rewards holders for participating in games.
Visit Sponge V2 Presale.
Tectum (TET)
Tectum is currently on a path to explosive growth after it amassed over 13% gains in the last 24 hours. Following its launch in the third quarter of last year, the token showed resilience with over a 360% increase in price. However, many believe that the bulk of its high performance results from the timing of its launch. Notably, last year, the crypto market swung into a bullish rally in the previous months of the third quarter. Also, the uptick in TET performance coincides with the trend. Nonetheless, recent data may identify this new crypto as having the potential to become one of the next cryptos to explode. Owing to its current initiative earlier this year, the Mainnet T12 Staking precisely, thereβs been a rise in its trading volume. The staking initiativeβs deflationary effect may influence the tokenβs price trend in the long run. Fundamentally, Tectum earns a reputation as the only layer one chain that uses the Proof-of-Utility consensus. With its proprietary initiative, it secures its place as one of the fastest network protocols in the industry. Besides, there are claims that it can process up to 1 million digital events per second. Despite its acclaimed high speed, the use cases of the network are still minimal.
Investors should keep a close eye on the token. Ideally, as its use cases and adoption grow, thereβll likely be a consistent increase in the price of TET.
SUI (SUI)
SUIβs recent performance reveals that the token will likely print explosive gains this quarter. In the last 30 days, itβs made several attempts to attain the $1 price, but the rejection at the $0.8 β $0.9 region has been relatively strong. In the last 24 hours, SUI prices moved to the $0.9 range before falling to $0.88. However, it retained over 10% in the period, and its trading volume increased by over 63%. Moreover, SUI recorded about 19 green days in the last 30 days, giving it 63% of the time in a bullish trend. And SUI is also seeing a rise in use cases.
Sadly, the token has only 11% of its total supply in circulation. Thus, the risk of fluctuation and volatility is higher in the long run. In the short term, however, the token also risks price reversal due to its current RSI value of 62. Even though itβs neutral, itβs moving much closer to the oversold region.
Meanwhile, SUI holders or intending investors may not have to worry too much as the current price of SUI is much lower than its long-term moving average. With that, it could lock in its bullish momentum for the first quarter and break above the $1 price range.
Hot Take
If you are an avid crypto investor or are looking for the next big opportunity in the crypto space, these four coins – Lido DAO (LDO), Sponge V2 (SPONGE), Tectum (TET), and SUI (SUI) – may be worth keeping an eye on for potential explosive growth. With these coins showing promising signs and potentially strong bullish momentum, itβs essential to monitor their performances closely and consider them for your investment portfolio. As you continue to navigate the crypto market, itβs always important to stay informed and vigilant, as new opportunities may arise amidst market volatility. Keep an eye on these coins and assess their potential in the market to make informed investment decisions.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
