The crypto market is dominantly reeling in the red zone today as there are more losers on the charts than gainers. The crypto market capitalization has lost 3.60% of its value since our last next cryptocurrency to explode post. The crypto market capitalization now sits at $1.09 trillion.
The global cryptocurrency market has traded deal volumes to the tune of $46.29 billion in the last 24 hours. It is actually a 79.60% jump from what was traded yesterday. The decentralized finance sector traded deals worth $3.47 billion which amounts to 7.50% of the entire crypto market within the last 24 hours. Stablecoins, on the other hand, had trades worth $43.60 billion in the last 24 hours. That amounts to 94.18% of the entire crypto market’s trade volume in that period.
Bitcoin shed 0.09% of its market dominance and it is currently at 45.79%.
Global Market Cap Chart
The crypto market is evidently still in shock from the collapse of formally strong financial stakeholders like FTX and SVB. The market’s swing in recent weeks after a time of relatively steady growth indicates an imbalance in investors’ appetite for risky assets. Risk aversion moves might not be paying off for investors now in the face of various central banks’ interest rate hikes.
In the midst of all these, investor confidence in certain crypto assets and categories remains constant. These have consistently stayed in the limelight since the crypto market has been swinging both ways. They form the basis of our next cryptocurrency to explode today.
The Next Cryptocurrency To Explode
1. AiDoge (AI)
AiDoge is maintaining its leadership role through its presale that multiplied its value by 100. The asset raised over $2 million within the first 3 days of its presale. With just 13 days left to its Claims and Launch, the project has raised close to $15 million. It is important to note that AiDoge, like any other presale, is not affected by the market decline because it has not been listed on crypto exchanges yet. This definitely makes it the next cryptocurrency to explode when it hits the ground running.
This outstanding feat puts AiDoge at an advantage when it is finally launched on crypto exchanges. It has shown that it has considerable goodwill among investors and it has great potential. The reason is not far-fetched. There is so much discussion going on about artificial intelligence and how it will benefit every sphere of human endeavor. A platform that incorporates it with cryptocurrencies will gain the popularity that comes with the discussion.
⚠️ Beware of scammers and fake pages! ⚠️
Remember that #AiDoge will never DM you first! Be aware of fake pages claiming to be associated with us.
Make sure only to follow our official pages, which you can verify through our website! ⬇️
— aidogecrypto (@aidogecrypto) June 5, 2023
AiDoge’s popularity and prosperity have also attracted predators as much as it attracts investors. Fake social media pages and scam mechanisms impersonating the platform have sprung up so quickly. AiDoge took to its Twitter page to warn the community against such scams and hugged everyone to be watchful. The warnings include that AiDoge will never DM anyone first and that users should only follow their official pages which are on their website.
2. Bitcoin (BTC)
Bitcoin has been struggling in the market for a while now but things got heated up after the US SEC sued Binance. The US SEC sued Binance on allegations that the latter sells unregistered cryptocurrencies.
The news sent Bitcoin spiraling down by more than 5% since Monday. It currently sells at $25,735, just a bit above its lowest selling point since March. The asset reached a worth trading month last week since November. This came after ending May 7.9% lower after it traded in a narrow strait between $26,000 to $28,000. Analysts have said the market should watch $25,200 as the support level for Bitcoin if it declines further.
Bitcoin, at this level, made the next cryptocurrency to explode list because it presents an opportunity for investors to buy the dip. In the regular pattern of cryptocurrencies and Bitcoin especially, bearish investors wait for such times before they pump funds in. It will come as no surprise if some investors decide to wait for analysts’ declared $25,200 support level before deciding to buy Bitcoin.
Whatever the case, it is evident that Bitcoin will jump exceptionally high when this cycle is over. The effect of the SEC’s move on Binance was heavily felt by Bitcoin because a huge amount of it was taken out of Binance. According to reports, as much as 9,802 BTC worth about $249.36 million left the Binance exchange.
But while that was withdrawn from Binance, Coinbase said it saw an inflow of up to 5,295 BTC. The unpredictable movements and outright removal from circulation have contributed immensely to Bitcoin’s price instability. However, it is a good time for investors to buy the dip before the cycle is over and the price jumps again.
The next big cryptocurrency to explode can be bought on eToro.
3. Launchpad XYZ (LPX)
Launchpad XYZ still has its presale on and it has raised more than $900,000 since it began. This comes despite the fact that its token, LPX, sells for $0.0445. This amazing trend indicates the reception the platform has received in the market and the prospect it holds for investors. It is undisputedly the next cryptocurrency to explode.
💰 Another incredible milestone achieved 🎉
Massive thanks to our trusted community ❤️
Let’s pave the way to the future of #Web3
— Launchpad.xyz (@launchpadlpx) June 5, 2023
The platform remains committed to its goal of aiding the transition from Web2 to Web3. Not only that, it also lets users build and maintain their software on its platform, especially open-source software.
There have been analyst attempts at predicting the price trajectory of the LPX token over a few years. Market researchers valued the Web3 market in 2021 and put it at about $3.2 billion. But according to statistics, about 54% of people in the US have not heard the term “Web3.” Whereas, just 13% of those who have heard it believe they know what it means.
These pieces of information indicate two facts – the first is that Web3 has a vast market ahead of it. The second is that a lot more people are not even aware that Web3 exists. This is where Launchpad XYZ coming and brilliant news for all its investors. It directly means that it will have a lot of use cases it will be in high demand as the years go by.
Due to that, analysts believe that Launchpad XYZ could rise as high as $0.09 before the end of 2023. If that happens, it would mean a profit of 157% for investors who bought it at the first stage of its presale.
Analysts equally think that Launchpad XYZ would have leveraged the resurgence of NFTs and cryptocurrencies in the coming years. This would further drive its popularity. It will be a lot of positive news for Launchpad XYZ as it depends on the twin features of NFTs and cryptocurrencies. The more popular they become, the more chances improve for the platform and its analytic tools.
If the market keeps rising, analysts think that LPX price will rise to $0.21 before the end of 2025. Investors would want to invest in an asset with so many prospects like this.
4. BNB (BNB)
Another crypto asset that qualifies as the next cryptocurrency to explode is BNB. Also down by 7.58% today and selling at $278.09, its potential lies in its rebound. The asset was part of the casualties of the US SEC’s announcement on Monday that it sued Binance for violating Federal laws by selling unregistered tokens.
The result of the first shock on Monday was that BNB lost 9.7% of its value within 24 hours. It became the second-highest loser on Monday just behind Solana which lost 10.3%. While trading was still active on Monday, BNB saw about $1.52 billion worth of trading volume.
Like what we said of Bitcoin, this is a good time for investors to buy the BNB dip. Its value will hit the roof again once the current cloud over it clears. This has been a regular pattern with top assets in the cryptocurrency market.
Reacting to the SEC’s allegations, Binance’s spokesperson said via email that BNB is a native token created for an internal economy. He added that the token’s value comes from its participants. According to him, BNB lets users who wish to engage with projects do so with BNB transactions. That creates utility for BNB to reflect community-built projects.
Furthermore, Binance faulted the SEC’s classification of its BUSD as a security. Binance said BUSD is backed by fiat and the US CFTC has said is not a security by a court order.
The US SEC will be off Binance soon and the assets in question will be back in their top positions as the next big cryptocurrency to explode. Before then, investors should visit eToro to buy BNB.
5. yPredict (YPRED)
yPredict is at the 6th stage of its presale and it has raised more than $2 million. The possibilities it holds out for investors make it consistently the next cryptocurrency to explode since it began the presale. It is not also affected by market forces and the current downturn because assets that are not in exchanges are not so affected.
yPredict aims to harness the power of decentralized technology so it could offer prediction services. It also plans for it to be secure and transparent to all users. Building it on the Ethereum blockchain is designed to give it a lot of leverage so it can be incorporated with ERC-20 elements.
yPredict will provide a decentralized alternative to users against the traditional markets that deal with predictions. It will leverage the abilities of smart contracts too. Users will have the ability to participate in predictions covering a lot of topics ranging from politics, finance, and sports.
📢 Exciting News! 🚀 @yPredict_ai, a leading provider of AI-powered analytics solutions, is expanding beyond crypto analytics with a new product launch! 🎉
— yPredict.ai (@yPredict_ai) June 6, 2023
Furthermore, yPredict introduces a feature it calls Social Trading. This enables users to track and also replicate trades carried out by other successful traders. In all, it looks to democratize prediction as it gives users a decentralized and transparent way to engage the prediction market.
In addition, yPredict announced on its Twitter page that it is expanding its operation beyond crypto analytics and it is launching a new product. The product is a self-hosted content solution for any content team. The platform says its goal is to revolutionalize content creation and productivity.
According to the tweet, the major features of the new product are User Management, AI-Powered Content Editor, Scoring System, and Aggregate Score Calculation.
yPredict, however, asked users to stay tuned for further announcements and updates.
These form the bases of why investors should put their funds in yPredict now and buy some YPRED tokens. It is not just the next cryptocurrency to explode, but one that will open a vista of opportunities.
6. Dogecoin (DOGE)
Dogecoin is down by 4.60% today as it sells at $0.068. As a leading memecoin, it is also not immune to the current downturn in the market. It is expected that it will also rise beyond its former height when the market gets out of this curve.
Memecoins have a level of popularity with investors as they moved from play things to actual assets. Crypto experts are predicting that Dogecoin will have a dominant place in the crypto market. This will present a rare opportunity for investors who invest early to get substantial profit for their investment.
Dogecoin is regarded as the father of memecoins and one that makes memecoins highly prominent. Since it started as a joke, those still laughing cheerfully are the investors who bought it in its early stage. Analysts further stated that Dogecoin has recently shown that there is a chance that it rises by up to 50% to 100% before the end of the year.
Dogecoin is always sure to pump when the memecoin season comes up. Before the current curve, Dogecoin has been doing tremendously well for the past few weeks. Dogecoin rose by 1000% within 3 months during the bull run in 2021. There are chances that a similar thing plays out again this year once the market slowdown is over.
Investors have another opportunity to buy the dip if they haven’t bought DOGE before or if they simply want to increase their holdings. The next cryptocurrency to explode is waiting to be bought by insightful investors who will begin their journey on eToro.
7. Solana (SOL)
Solana is the next cryptocurrency to explode even as it is trading down by 7.38% at $19.92 today. Another casualty of the market’s curve but it is surely on its way back up. Solana’s market capitalization is currently $8 billion while its volume traded in the last 24 hours is worth $246 million.
Solana was also mentioned in the US SEC’s allegation that claims that Binance sells unregistered tokens in violation of US laws. Binance has responded through its spokesperson that the allegations are false.
Based on major technical pointers, there are sufficient signs that a rebound is imminent sometime soon. The asset’s 20, 50, and 100-day exponential moving averages are $20.66, $20.97, and $21.19 respectively.
The network’s native token, SOL, tried to break through exponential moving averages last week and it reached the 0.5 Fibonacci retracement level on Monday. But it gave up all its gains today. But in spite of the market’s downturn, the exponential moving averages are still close to each other. This suggests that the market might be consolidating and an uptrend is in the works.
Annnd action! 🎬
— Solana (@solana) June 5, 2023
Solana’s relative strength index fell to 43.89 from its position on Monday which was 58.70. This further shows that the asset has gone from a neutral area to a relatively overbought zone. This has presented a buying opportunity for investors as the relative strength index shows that the selling pressure might soon be exhausted. The price will bounce back soon, according to these indicators.
SOL is facing some resistance at the 0.382 Fibonacci retracement level at $20.30. Breaking above this point will show that an uptrend has already begone. But on the downside, SOL will have immediate support at the 0.236 Fibonacci retracement level of $18.70.
Investors now have ample opportunity to invest in SOL as the rebound is on the horizon. eToro is the first place for investors to look at this time.
8. Render Token (RNDR)
The Render Token is also trading down at 8.53% to sell at $2.36 today. Also suffering from the market’s situation but it is the next cryptocurrency to explode, nevertheless.
One of the reasons that guarantee that the Render Token will be back up very soon is its recent work with Apple. A product connected to it was unveiled at the Apple event which took place on Monday. It was one of the keynote events there.
Cryptocurrencies based on artificial intelligence like RNDR have gained popularity in recent times. Whereas, artificial intelligence bots haven’t integrated crypto payments as widely expected. It was generally expected that crypto integration would be launched at this year’s Apple Worldwide Developers Conference where the Vision Pro headset was launched.
Although no crypto-related feature was discussed at the conference, Apple partnered with OTOY Inc. whose CEO also founded Render Network. Apple featured Octane X which is directly related to the Render token, RNDR. this move created speculations that there would be a partnership between Octane and Apple anytime soon.
Apple’s virtual reality and augmented reality product, Vision Pro, was widely expected to have Render network functionalities for its GPU rendering.
Despite the current market instability, the prospect of such partnerships and the popularity of Render Token has gone a long way in building investors’ confidence in the network. In as much as caution is required at times like this, it is necessary for investors to join tents with a tech giant like Apple by going into business with the Render Network. Buying the dip of the next big cryptocurrency to explode is an essential part of crypto trading that should be taken advantage of.
9. Pepe (PEPE)
Pepe is up by 14.26% and selling at $0.000001184 today. It is one of the few tokens struggling to survive the current market downtime. Its resilience puts it up as the next big cryptocurrency to explode, the market trend notwithstanding.
Pepe is a promising token beyond the current time although it has recently faced its own setbacks. Its price and market capitalization dropped but it is getting back up. Investors are no longer questioning the trend of the asset as a few days ago. Once the ascent stabilizes, the frenzy around the PEPE token will be back in full force.
Pepecoin started out by capturing the attention of the memecoin community and other crypto lovers. It leveraged the popularity of the Pepe and Frog characters and rode on the memecoin enthusiasm. The token surged high in its early days as it captured headlines and investment.
The token is now positioning itself for a stranger comeback than it had before and it is about to shock the market. According to analysts, PEPE might reach the same status as DOGE in the first quarter of 2024. This is the best time for interested investors to throw their caps in and invest in the next cryptocurrency to explode. The market will swing back up in the coming but PEPE is likely to lead the way.
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