Next Cryptocurrency to Explode, October 16 — Dogecoin, Scroll, Kucoin Token, Celo
Release: 2024/10/17 02:20 Reading: 614
The market sentiment has surprisingly turned negative, leading to fluctuations in cryptocurrency prices, including Bitcoin (BTC). BTC has recovered above $67K after touching 63K late last month, while Ethereum (ETH) strives to stay above $2,600.
Identifying the next cryptocurrencies to potentially appreciate in value requires research as most funds tend to invest in assets that are already performing well. This article explores the performance of cryptocurrencies that have been trending in the past 24 hours, aiming to identify promising coins and inform investors and traders about each token.
Next Cryptocurrency To Explode
This article discusses the performance of potentially explosive cryptos that investors may consider adding 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:
- Dogecoin (DOGE)
Dogecoin (DOGE), a popular memecoin, has been gaining attention during this market rally. Known for its surge in popularity due to Elon Musk's support, some analysts predict that DOGE could reach a new all-time high in this bull cycle. One analyst suggests a price of $10 is possible, although this is seen as a long-term target.
Currently, DOGE is trading at $0.1252, with an 8.21% increase in the past 24 hours. Its trading volume has surged by 97.71%, indicating increased investor interest. The upcoming U.S. elections may also be driving this activity.
- Scroll (SCR)
Yesterday, Scroll's SCR token saw a 10% surge in price after announcing its partnership with Cysic Network. This collaboration focuses on improving transaction efficiency and security on the Ethereum blockchain by leveraging Cysic's advanced zero-knowledge (ZK) computing technology.
Thanks to the integration of Cysic's GPU servers, the time required for ZK proofs has been significantly reduced from hours to minutes. This upgrade is expected to greatly enhance both the speed and security of transactions on the Scroll network.
Currently, Scroll (SCR) is trading at $1.36, reflecting a 9.39% increase. Its market capitalization has grown to $257.67 million, with a trading volume of $10.05 million, up by 19.51%. Of the 1 billion SCR tokens, 190 million are already in circulation.
- Pepe Unchained (PEPU)
Investors seeking new opportunities may want to consider Pepe Unchained (PEPU), a layer-2 derivative of the popular PEPE meme coin. In its presale, PEPU has already raised over $19.8 million, demonstrating strong market interest.
What sets Pepe Unchained apart is its real utility. Unlike many other meme coins, it utilizes its native layer-2 network to improve scalability, allowing for faster and cheaper transactions compared to Ethereum and other networks. Initially, the popular meme coin PEPE will benefit from this technology, but Pepe Unchained aims to expand these improvements to the entire meme coin sector.
According to YouTuber Clay Bro, with over 130k subscribers, PEPU is already being compared to PEPE, the third-largest meme coin with a market capitalization of $4.3 billion. Pepe Unchained has also launched a developer grant program called "Frens with Benefits" to attract talent and encourage decentralized app (dApp) development on the Pepe Chain.
Investors can stake their PEPU tokens for an annual return of 111%. So far, over 1.4 billion PEPE tokens have been staked. The presale price for $PEPU is $0.00999, and tokens can be purchased using $ETH, $USDT, $BNB, or a bank card. Buyers should act quickly as a price increase is expected soon.
- Kucoin Token (KCS)
KuCoin Token (KCS) is the native cryptocurrency of the KuCoin exchange, which was launched in 2017. It offers benefits like reduced trading fees and a share of the exchange's profits. Initially built as an ERC-20 token on the Ethereum network, KuCoin plans to gradually reduce the total supply of KCS from 200 million to 100 million through buybacks and token burns.
Currently, KCS is priced at $8.72, with approximately 120.4 million tokens in circulation, giving it a market value of around $1.05 billion. Since hitting its lowest point in 2019, KCS has grown significantly, rising by over 2,278%. KuCoin is working to increase the token's utility by integrating it into new features and services on the platform.
Looking ahead, KCS will become the native asset for KuCoin's decentralized financial services and the governance token for the KuCoin community as the platform develops its decentralized trading solution. KuCoin aims to make KCS a key product in the ecosystem, providing even more benefits for its holders.
- Celo (CELO)
Celo is a decentralized platform designed for crypto indices and actively managed funds operating on the Solana blockchain. It uses the Celo Engine to offer various services, including on-chain funds, indices, and multi-token liquidity pools. Additionally, it enables liquidity routing between indices and decentralized exchange (DEX) aggregators, making it a versatile tool in the DeFi space.
Celo also provides public APIs, allowing other DeFi projects to easily integrate its products. Fund managers can create and manage funds consisting of multiple tokens, which can be reweighted, rebalanced, or filtered based on custom rules. Users can also set up their own actively managed funds or indices and trade funds created by others.
Recently, Celo performed well in the market, reaching a 24-hour high of $0.8736 after dipping to a low of $0.7661. At the time of writing, it is priced at $0.8097, reflecting a 2.82% gain. This rise in value suggests increased buying interest and a positive shift in market sentiment.
Celo is currently trading 54.72% above its 200-day simple moving average (SMA) of $0.524995 and has recorded 21 green days in the last 30, showing a 70% positive trend. Technical indicators suggest a favorable outlook as of October 16, 2024.
In addition, Celo recently launched BRLA, a stablecoin pegged to the Brazilian real. This marks the 10th native stablecoin on the Celo chain, highlighting its commitment to providing accessible financial tools through blockchain technology, particularly for underserved communities in Brazil and beyond.
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