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The altcoin market looks bullish as some coins try to bounce back. Investors should remain alert during this consolidation phase as this could be an opportunity to ride a bullish trend.
Institutional investors are now paying more attention to interoperability and tokenizing real-world assets. The prices of these assets are rising even before the market has fully started. The goal is to identify the next cryptocurrencies that will explode and inform investors and traders about each token.
Next cryptocurrency to explode
The focus in the crypto market in the coming month will be on the altcoin and meme coin sectors and making the most of the altcoin market. Therefore, investors can take advantage of this moment and take a position in upcoming tokens like PlayDoge. PlayDoge is a new Doge meme coin that uses play-to-earn technology to create a real-world monetizable gaming economy. This post covers the details of the pre-sale.
1. GameStop (GME)
The Solana-based GME coin (GME), a meme coin inspired by the 2021 GameStop short squeeze, experienced a surge in value, rising more than 150% to reach $0.029 on June 7. This rise occurred after Keith Gill, known as Roaring Kitty. , announced his return to YouTube after a three-year hiatus.
Since June 2, the price of the GME cryptocurrency has risen more than 730%. Following Gill’s revelation about trading GameStop stock, the GME token has risen more than 110%.
Although Keith Gill’s YouTube announcement did not contain detailed content, it led to significant speculation that he may have been optimistic about GameStop’s future. This expectation has energized the investment community. A notable example is a trader who turned a $2 million investment in Solana’s native token into a $1.5 million profit via the GME meme coin.
From now on you can use $GME as a coin @BetAltcoins , which takes your gaming experience to the next level. 💰🃏https://t.co/7IJfutnHfQ
And that’s not all: Betaltcoins will charge 5% of the fees, helping our community and $GME holders benefit from this epic… pic.twitter.com/NEGq4mVWOo
— GMEonSol 🎮 (@gmecoinsol) June 8, 2024
At the time of writing, the price of GME is $0.0183, marking an increase of 22% in the last 24 hours. The market cap has increased by 21.92% and now stands at $125,698,661. Sentiment for GME’s price forecast is currently positive, evidenced by a Fear & Greed Index of 75 (Greed), indicating more token trades and growing optimism about an uptrend.
Given its solid fundamentals and the support of a dedicated crypto community, GME has significant potential for future growth. If the bullish trend in the crypto market continues, we expect the average price of GME Coin to be around $2.33 in 2024.
2. Bicononomy (BICO)
Biconomy’s distinctive relayer network addresses common blockchain challenges. Curve Finance, Perpetual Protocol, Decentral Games and Sapien Network use it to enable gasless transactions. Quantstamp, MixBytes, Certik and Holborn conduct audits to ensure the security of these transactions.
Additionally, Biconomy provides developers with an easy-to-integrate software development kit. Users sign transactions with private keys, keeping the platform non-custodial and reliable.
Additionally, Biconomy’s multichain relayer protocol improves the user experience of decentralized applications (DApps). The project aims to make Web3 products as easy to use as Web2 products, and its infrastructure aims to overcome several Web3 limitations.
Biconomy allows users to become a member without paying gas costs. Furthermore, they can use any ERC-20 token to cover the gas fees for their transactions. The platform makes blockchain interactions easier and speeds up transaction confirmations.
We are excited to be part of this journey with @Sidebot_! 🚀
Together we are revolutionizing seamless transactions with faster processing.
Stay tuned to see what this collaboration can deliver next! 👀 https://t.co/m1iyul3dJR
— Biconomy (@biconomy) June 7, 2024
Currently, BICO is priced at $0.6364, showing an increase of 19.30% in the past 24 hours and 154.60% over the past year. It is trading 1138.56% above its 200-day simple moving average (SMA) of $0.26812. However, the 14-day Relative Strength Index (RSI) of 79.08 indicates a possible short-term decline. In the last 30 days, BICO has had 15 green days and a high volatility of 10.31%, indicating unpredictable price movements.
Nevertheless, favorable price forecast sentiment and a Fear & Greed Index of 75 (Greed) indicate increased token transactions, indicating growing optimism about an upward trend.
3.TRON (TRX)
TRON is a well-known Layer 1 blockchain platform with more than 2 million daily users. This achievement highlights the platform’s unique community and strong interaction. Thanks to partnerships and an active community, user engagement with TRON is increasing, influencing TRX trading.
Since its launch in June 2018, TRON has established itself as a major competitor to blockchain platforms such as Ethereum, Tezos, Cardano and EOS. It uses a delegated proof-of-stake (DPoS) system for security.
In May, TRON achieved several important milestones. For example, USDD, TRON’s decentralized stablecoin, entered CoinMarketCap’s top 100 16 days after its launch on May 5. As of June 1, USDD had a circulating supply of over $667 million and burned over 8 billion TRX. Additionally, DefiLlama reveals that TRON now ranks third among all public blockchains by total value locked (TVL) at $6.17 billion, behind Ethereum and BNB Chain.
— TRON DAO (@trondao) June 8, 2024
TRON has seen significant price changes since its inception. TRX initially had a price below $0.002, peaked at $0.30 in January 2018, then fell to $0.03 and continued to decline until June 2020, reaching a low of $0.007. In 2021, the token rose to $0.1616 in April before falling again due to market corrections.
TRX was priced at $0.1164 at the time of writing, showing a neutral trend with a 14-day Relative Strength Index (RSI) of 50.05. TRON’s high market capitalization and liquidity make it an attractive option for investors, indicating its resilience and potential for significant returns.
4. PlayDoge (PLAY)
In just under 14 days since launch, PlayDoge (PLAY) has raised over $3.2 million, with the ICO quickly gaining traction. While $PLAY is a meme coin like Dogecoin, it specifically focuses on the Shiba Inu dog breed, which is where the similarities end.
PlayDoge is a earn-your-own (P2E) mobile game that turns the DOGE meme into a Tamagotchi-style virtual pet. This allows users to earn $PLAY tokens. The game combines 90s nostalgia with modern blockchain technology. Players can take care of an 8-bit pixel Doge in this retro-style mobile game. They feed, play mini-games and bond with their virtual pet, earning $PLAY tokens in the process.
#PlayDoge brings Tamagotchi into the 21st century. 🎆
There are games on our app to earn $PLAY tokens that can be redeemed for #Crypto. ✅
We’ve given Tamagotchi the specification upgrade it deserves! 💫#Memecoin #PlayDoge #BNB #P2E pic.twitter.com/8negSBSmM1
— PlayDoge (@PlayDogeGame) June 9, 2024
PlayDoge is unique compared to Dogecoin because it runs on the BNB Chain, developed by Binance, the largest cryptocurrency exchange in the world. In addition to earning through play-to-earn (P2E) mechanisms, token holders can earn passive income by staking $PLAY, which delivers a remarkable annualized yield (APY) of 1,753%.
Currently, $PLAY tokens are priced at $0.00504 each. With an upcoming price increase in less than 24 hours, it’s best to secure the best deal quickly. You can purchase $PLAY on the official website with BNB, USDT or a bank card to participate in the presale.
Participate in the PlayDoge presale here.
5.Monero (XMR)
Monero (XMR) is a leading privacy-focused cryptocurrency built on the CryptoNote protocol. It offers a secure and private currency system that uses unique cryptographic methods to ensure that all transactions are untraceable and unlinkable.
Monero is trading at $169.44, approximately 78.371% higher than the low of $0.2162 on January 14, 2015. With a market cap of $3,118,095,142, Monero reached its peak price of $542.33 on January 9, 2018. Considering the strong performance by over the years, Monero has been a promising investment choice.
We are happy to announce that MoneroKon 2024 starts tomorrow!
‘Monero Konferenco (also known as “MoneroKon”) brings together global privacy advocates, cypherpunks and leading scientists to discuss advances in privacy and financial technology. The conference and hackathon…
— Monero (XMR) (@monero) June 6, 2024
Furthermore, Monero (XMR) has seen its price rise by around 12% over the past week. A positive development is that the price of Monero has increased by 3.02% in the past day and 28.54% in the past month. Although XMR has a Year-to-Date (YTD) return of less than 3%, improving market sentiment indicates a bullish trend for the altcoin in the coming months.
After correcting around 39% in February, the bulls lost momentum, leading to weak price action and consolidation between $112.80 and $126.50 for more than three months. As the bulls regained strength, the price broke out of this range. Since then, XMR has been on a steady upward trend.
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PlayDoge (PLAY) – Latest ICO on BNB Chain
- 2D Virtual Doge Pet
- Play to earn Meme Coin Fusion
- Staking and in-game token rewards
- SolidProof checked – playdoge.io
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