Next Cryptocurrency to Explode, November 5 — MASK Network, WEMIX, Grass, Shiba Inu
Release: 2024/11/05 20:49 Reading: 542
The overall market sentiment remains surprisingly negative, and cryptocurrency prices have fluctuated over the past few days, including Bitcoin (BTC). BTC has been unable to stay above $70K and is struggling to stabilize above $67K. Meanwhile, Ethereum (ETH) has still been unable to stay above $2,500 for over a few days.
However, identifying the next cryptocurrencies to explode might take some work considering most funds are attracted to pumping assets. This 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
This article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Mask Network (MASK)
Mask Network is an open-source Web 3.0 platform that brings encrypted messaging to popular social media sites like Twitter and Facebook, connecting the worlds of Web 2.0 and Web 3.0. Users can access decentralized messaging, payments, file storage, and sharing through Mask Network—without leaving their favorite social media platforms.
One of Mask Network’s standout features is its support for Initial Twitter Offerings (ITOs), which enables blockchain projects to raise funds directly on Twitter. This innovative feature is likely contributing to recent price increases. Currently, Mask Network supports ITOs on the Ethereum, Polygon, BSC, and Arbitrum networks.
MASK’s price has risen to $2.81, marking a 16.41% increase in the last 24 hours. Its market cap also jumped 16% to $280.95 million, with trading volume surging by 488.84%, reaching $356.34 million.
Projections indicate steady growth for MASK. By the end of this month, it could reach a high of $3.955 and a low of $2.579. December forecasts suggest a peak price of $3.671 and a minimum of $2.643.
This positive outlook is fueled by Mask Network’s recent acquisition of Nametag, a decentralized identity platform. Announced on Medium on September 20, 2024, this acquisition will enhance Mask Network’s identity solution, Next.ID, offering users more control over their Web3 identities. This acquisition reinforces Mask Network’s dedication to decentralized social and identity solutions.
2. WEMIX (WEMIX)
WEMIX has shown a solid 3.03% increase in the past 24 hours, with its market cap and daily trading volume rising, hinting at a positive short-term trend. While the token currently trades 46.38% below its 200-day SMA, its 14-day RSI of 68.17 suggests a neutral stance, which might lead to sideways trading.
WEMIX powers a decentralized blockchain protocol designed to support a broad Web 3.0 ecosystem. Its WEMIX3.0 mainnet, compatible with Ethereum Virtual Machine (EVM), leverages a Stake-based Proof of Authority (SPoA) consensus for high transaction speeds and security. The network is governed by 40 Node Council Partners (NCP), making the WEMIX token vital for transactions and gas fees across the platform.
The WEMIX ecosystem offers several key platforms that enrich its Web3 environment. WEMIX Play is a popular play-and-earn gaming platform where payments are integrated directly into games, creating a seamless experience. Additionally, NILE uses DAO-powered smart contracts to manage various projects, while WEMIX.Fi provides DeFi services with fast transactions and low fees.
WEMIX$ is a stablecoin fully backed by collateral, supporting ecosystem stability and growth. The WEMIX Wallet gives users full asset management control, while WEMIX Explorer tracks blockchain activity. Recently, however, WEMIX.Fi paused its lending and borrowing services due to concerns over the liquidation process for WEMIX$. Further updates on this are anticipated.
3. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) has had a strong start this November, securing over $24.7 million in presale funds. After hitting the $23 million mark on October 29, the token quickly raised another $1.5 million in just five days, showing significant investor interest.
Despite a recent 7.9% market decline, Pepe Unchained continues to attract steady funding, solidifying its position as 2024’s top presale token. This momentum is catching the attention of major exchanges, with some hints of a possible listing on Binance, the world’s leading crypto exchange by volume.
Launched in June, Pepe Unchained’s presale funds are directed toward building its upcoming Layer 2 chain on Ethereum. In October, the project opened grant opportunities for developers who present innovative ideas using its L2 technology. Pepe Unchained’s Layer 2 solution aims to set it apart from previous Pepe tokens, offering a more efficient and affordable path for token ownership.
Pepe Unchained ($PEPU) has drawn strong interest from early investors who see potential in a successful exchange listing. Buying in at the discounted presale price, these investors have supported Pepe Unchained’s growth, even as the market has fluctuated in the second half of the year. This steady interest highlights confidence in Pepe Unchained’s Layer 2 (L2) solution vision.
Recently, the presale gained even more momentum, with increased contributions from larger investors. However, time is running out—investors have less than 24 hours to secure $PEPU at the current presale price of $0.01219. After this, the price will rise as the presale moves into its next funding round.
4. Grass (GRASS)
Grass is a Layer 2 data rollup on the Solana blockchain, designed to speed up AI development by streamlining data collection and processing. It uses a decentralized network of web-scraping nodes run by residential users, allowing for secure, efficient data gathering and supporting up to 1 million transactions per second.
Eight days ago, $GRASS token distribution began, offering incentives to those contributing to data scraping and processing. Grass introduced an Airdrop Points Program to encourage community growth, which rewards users with Grass Points for referrals and active engagement. These points can be redeemed for $GRASS tokens, creating a dynamic ecosystem focused on AI training and data accuracy.
GRASS has shown impressive growth this past week. Currently priced at $1.65, the token rose over 2% in the last 24 hours, while its weekly performance reflects a strong 58.87% increase. Its market cap has also climbed by 0.49%, now at $395.47 million. The sentiment around GRASS remains bullish, with a Fear & Greed Index at 69, indicating investor optimism and an uptrend in token transactions.
With solid fundamentals and support from a dedicated crypto community, GRASS shows promise for long-term growth. If the project announces partnerships with other networks, the token could surpass a high of $3.52. Should the crypto market continue its bullish trend, GRASS could average around $2.19 in 2024. However, if the market turns bearish, the token’s minimum value might dip as low as $0.99.
5. Shiba Inu (SHIB)
Shytoshi Kusama, Shiba Inu’s lead developer, has unveiled an ambitious plan to position the U.S. as a leader in blockchain technology. Named the Strategic Hub for Innovation in Blockchain (S.H.I.B.), the initiative aims to attract key figures like Elon Musk and Donald Trump to support this vision. Amid this announcement, Shiba Inu saw a 6% price increase, adding to the excitement.
The proposal outlines two main areas for growth. First, it focuses on infrastructure development, calling for advanced labs, secure data centers, and high-speed connectivity. Secondly, it offers an economic plan with tax incentives, grants, and matching programs to attract businesses and investors. Kusama also advocates for public-private partnerships, aiming to merge private sector expertise with government resources.
Following this news, Shiba Inu’s price rose 6%, reaching approximately $0.00001759 in 24 hours. Many are watching to see if SHIB can surpass the $0.000020 resistance level. With election season ahead and speculation surrounding a potential Trump win, demand for memecoins could surge, possibly fueling another rally for Shiba Inu.
Shiba Inu’s market cap currently stands at $10.52 billion, sparking curiosity among investors about its potential to revisit previous peaks of $20 billion or even $40 billion in the next bull market. While interest in other meme coins grows, Shiba Inu has shown less volatility. This steadiness may be due to its larger market cap and higher liquidity, which typically help minimize sudden price swings.
Meanwhile, Shiba Inu’s development team remains focused on improving the ecosystem. Recently, they launched ShibaSwap 2.0, an upgraded version of their platform that enhances performance and user experience.
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