Next Cryptocurrency to Explode, October 11 — Pyth Network, Immutable X, XRP, SXP
Release: 2024/10/12 00:13 Reading: 442
Next Cryptocurrency to Explode
Introduction
The current market outlook is surprisingly negative, and cryptocurrency prices have shown consistent volatility, including Bitcoin (BTC). BTC has struggled to remain above $60K after reaching 63K late last month, while Ethereum (ETH) is currently struggling to stabilize at $2,400.
Identifying potential breakout cryptocurrencies requires research as most funds are primarily allocated to pumping assets. This article aims to explore the recent performance of cryptocurrencies that have demonstrated strong gains in the past 24 hours. The goal is to identify coins with potential and keep investors and traders informed.
Potential Explosive Cryptocurrencies
Today's article highlights the performance of several cryptocurrencies that could potentially explode, which investors should watch closely. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. The coin attracted over $150,000 in investments within minutes.
1. Pyth Network (PYTH)
Pyth Network (PYTH) has exhibited a recovery trend, bouncing back from its key support level of $5. A breakout pattern and rising RSI momentum suggest a possible rally. If this recovery continues, the next target is the 200-day EMA. According to Fibonacci levels, the price could reach $0.50, with a possible further rise to $0.67.
Pyth Network has recently achieved the highest Total Transaction Value (TTV) within the Oracle sector, indicating strong performance. The network has also launched an EIGEN/USD price feed, which is now available across 75 blockchains. The $EIGEN token, linked to the @eigenlayer protocol on Ethereum, facilitates restaking within the network. Pyth Network is crucial in DeFi by providing real-time market data to blockchain platforms. Its decentralized Oracle system stands out by delivering data directly from financial institutions and exchanges.
2. Sei (SEI)
Sei (SEI) is currently trading between $0.38 and $0.50, near its $0.32 support level after a recent 3.5% rise. Over the past month, SEI has witnessed a significant 49.61% increase, demonstrating growth potential. The next resistances to watch are $0.56 and $0.69. A breakout could lead to considerable gains, pushing the price 38% higher. SEI has maintained momentum for 287 days, and the altcoin shows signs of a potential breakout. It has secured a position above the 0.236 Fibonacci level, a key support point.
3. Pepe Unchained (PEPU)
Pepe Unchained (PEPU) distinguishes itself from other meme coins by offering real utility, similar to major blockchain projects like Ethereum and Solana. With its native layer-2 network, Pepe Unchained aims to provide scalability for the meme coin market. By managing transaction processing for meme coins, Pepe Unchained offers higher speed and lower fees than Ethereum, Solana, and the TON chain. The first token to benefit from this will be the popular meme coin, PEPE. After that, Pepe Unchained plans to extend its technology to the entire meme coin sector, enhancing efficiency for all.
4. XRP (XRP)
XRP (XRP) has experienced slight upward movement over the past 24 hours, rising to $0.536. This increase comes from its underbought status on yearly timeframes and renewed interest from large investors. XRP's 24-hour trading volume has surpassed 1.3 billion, indicating a possible breakout. It could mark the start of an upward trend, potentially pushing the price close to $1. Analysts remain optimistic about XRP's future, despite ongoing concerns surrounding the Mt. Gox reimbursement.
5. Solar (SXP)
SXP, the cryptocurrency behind The Solar Network, has gained attention as it expands into the metaverse. The sector's expected growth could lead SXP to reach $0.45. However, external factors could push the price lower. In a balanced scenario, SXP might settle around $0.30.
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