Next Cryptocurrency Explodes Monday January 8 – Wall Street Memes, VeChain, Axelar

Investors are constantly looking for the next cryptocurrency that will explode. Usually this is the only way they are compensated for taking the risk in the market.

However, the current market has been quite discouraging, with hundreds of altcoins losing their gains over the past quarter. On the other hand, BTC seems to have found the will to climb out of the $43,000 price point as it printed $45,000 today. Hopefully it will break new ground as the week progresses.

Next cryptocurrency to explode

In the meantime, what are the next cryptocurrencies that will explode? Today’s post examines the performance of VeChain, Axelar, and Stacks. It also explores how the crypto market interacts with the Wall Street Memes token, WSM. Overall, the community is working hard to improve the performance of the token, and so far it has entered the top 1000 tokens. This update explores its future potential.

1. VeChain (VET)

VET has been on an upward trend in the past 24 hours, posting a gain of more than 3%. And trading volume increased by 176%, putting even more pressure on the current price. Hence the chance of a price increase.

VeRocket’s recent integration into the VeChain ecosystem will likely lead to the asset’s return to the $0.05 region. Vechain’s performance recently has also been quite impressive. Over the past 52 weeks, it has seen a price increase of over 89%, putting it above 60% of the top 100 tokens on the market.

Furthermore, given that the 200-day moving average is below its current level, the market can expect a continued bullish trend towards its next resistance at $0.05.

However, there are also disadvantages that investors should take into account. Initially, VET’s performance was completely below that of BTC, making BTC a better investment option in the short term. Again, VET has only had 14 green days in the last 30 days, meaning there is uncertainty in the market.

Thank you for your efforts in integrating VeWorld, @VeRocket team! ????

Now the community can easily trade digital assets from the comfort of our powerful new wallet.#Vechain #DEX $VET $VTHO https://t.co/51JQlkLksq

— vechain (@vechainofficial) January 8, 2024

Furthermore, VET has an RSI value of around 47, indicating that investors are now quite neutral. Since the moving averages are still below price, the accumulation could continue for a few more days or until the end of the quarter. However, it is best to add VET to the watchlist and keep an eye on the trend as it unfolds.

2. Axelair (AXL)

As the adoption of blockchain technology continues to increase, there is a growing demand for cross-chain communications. Axelar takes a position in the market by offering new systems that allow dApps to realize seamless cross-chain communication. Over the past 24 hours, AXL has seen a price increase of around 5% today, making it one of the biggest gainers on the list.

Axelar is currently working to increase the value of its assets through growing use cases. Recently, the ecosystem launched support for AXL proof of stake token support, which supports programmability at the interchain layer.

This capability was made possible by the Exodus platform. So AXL is now part of the more than 1,000 assets that holders can exchange via Exodus. With growing demand, the token is poised for explosive growth.

???? Exodus is a crypto wallet that supports more than 50 networks, allowing exchanges between thousands of assets.

Users can now place bets $AXL — @axelarnetwork native proof-of-stake token that supports programmability at the interchain layer — on Exodus ???? https://t.co/dUeTygRXWG

— Axelar Ecosystem (@Axl_Ecosystem) January 5, 2024

Furthermore, Axelar currently has an RSI reading of 54, which is relatively neutral, and its price is well below its long-term moving average. It implies that the bulls will retain the upper hand for the time being.

On the other hand, the AXL has less than 20 percent of its maximum supply in circulation, which could affect its price in the long run. However, given its strong position in the interoperability sector, investors should add AXL to their watchlist.

3. Stacks (STX)

Stacks ended last year as one of the best performing cryptos with more than 800% price gain. Currently, STX is valued at $1.94, compared to $0.26 52 weeks ago. In the last 24 hours, the price has increased by 12%, making it the highest gainer on CoinMarketCap. Today, STX trading volume is up about 173% and has been rising continuously since the beginning of the quarter.

Will Stacks Become the Next Crypto to Explode? Since Stacks is one of the use cases of the BTC chain, it is currently benefiting from the FOMO building around the Bitcoin trend. With the STX above the $1.9 resistance, investors can expect continued pressure towards the $2 resistance zone.

More importantly, if the STX can break above the $2 region, the chances of a sustained rally are higher. Conversely, the current RSI reading threatens STX’s long-term prospects. This shows that STX is hovering around oversold territory.

Investors can expect a short-term pullback while waiting for the market to return to stability. Ultimately, investors who missed October’s rally can benefit from the STX’s price movement as it shows potential for a rally in the quarter.

4. Wall Street Memes (WSM)

Wall Street Memes Updates May Finally Pay Off. After optimizing the betting function, the value of the tokens has increased remarkably. Moreover, its increasing utility features are restoring investor confidence, securing it a spot among the top 1000 cryptocurrencies. Without a doubt, WSM takes the prime spot for the next crypto to explode.

At the time of writing, the platform has burned over 2.5 million WSM tokens in the effort to increase the value of the asset. More recently, it started a program to match token values ​​burned by users. To date, holders have burned more than 322,000 tokens.

Once again, the community continues to take initiatives to increase the usefulness of the WSM token. It recently added support for gaming offers that holders can take advantage of. Casinos, slots, live casinos, game shows and crash games are popular offerings on the platform. As mentioned earlier, the growing adoption of the game offering also implies that the value of the WSM token will increase. Hopefully it will break into the top 500 cryptos soon.

Now even more optimistic on ChatGPT https://t.co/YQIRrNyHqc pic.twitter.com/50DudhiSBp

— Wall Street Memes (@wallstmemes) January 8, 2024

Fundamentally, the Wall Street Memes focus on building a well-founded community connected by their interest in mutual wealth. The emphasis on having fun is also no different than before. Social media channels continue to receive a flood of meme posts.

Visit the Wall Street Memes page

read more

New Crypto Mining Platform – Bitcoin Minetrix

• Controlled by Coinsult
• Decentralized, secure cloud mining
• Earn free Bitcoin every day
• Native token now on pre-sale – BTCMTX
• Staking Rewards – Over 100% APY