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It’s hard to recognize when the next cryptocurrencies will explode. All crypto sectors are in a sporadic rally in a bull market. However, with the right indicator, investors can identify cryptocurrencies with promising prospects. Some of the stories that are gradually gaining traction in the market this quarter are the DePIN and AI stories.
Assets in the sector are showing remarkable performance. Taking cues from the performance of Fetch.ai, Ronin and Chiliz, we can get an outlook on the crypto markets in the coming months.
Next cryptocurrency to explode
Additionally, emerging cryptocurrencies like Scotty the AI are also gaining popularity due to the speed at which they are achieving their pre-sale milestones. Below is an overview of their pre-sale journey and the prospect of the token.
1. Rendering (RNDR)
Render made headlines in the first quarter of last year when rumors broke out about a partnership with Apple Inc. The news assumed that Render’s decentralized GPU network would be used in the VR headsets.
However, the crypto community’s hopes were dashed when VR headsets hit the market, with little evidence of Render Network technology being used. Nevertheless, Render’s presence at one of Apple’s events leading up to the release of the gears gives the platform the credibility and visibility it needs. The event put the project in the spotlight, strengthening investor interest in the asset.
Today, RNDR is reaping the benefits of the partnership as the token’s value has increased by almost 600% YTD. Interestingly, the price maintains an uptrend as it recorded a price increase of over 5% today. Profits continue to roll in, despite Kinetic Capital’s recent $15 million dump.
However, the dump had little effect on the token’s over $2 billion market cap, and the growing impact of the crypto AI sector puts RNDR on the list of tokens with high potential to become the next cryptocurrencies to explode.
2. Ronin (RON)
Crypto GameFi enthusiasts paid little attention to the Ronin network until recently. It is an EVM with scaling capabilities that allow it to host millions of users every day. At the time of writing, the platform had handled billions of dollars in NEFT transactions and its potential was gaining attention in the industry. The renewed initiative brought the project to a new peak.
RON, the platform’s cryptocurrency, has seen an increase in value of over 600% in the past 90 days. While the token is currently witnessing a pullback, there are signs of a potential rally ahead.
The RON chart shows several upsides, indicating that investors can still benefit from the potential uptrend. The current downtrend could be an opportunity to buy the dip as the recent RSI reading has gone from overbought to neutral in less than 24 hours.
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— Ronin (@Ronin_Netwerk) February 21, 2024
Additionally, the short- and long-term moving averages remain significantly below their current market values, indicating bullish momentum. RON may be one of the next cryptocurrencies to explode, given its resistance to bear pressure.
Nevertheless, RON holders, and especially recent investors, should brace for a sideways trend as it approaches critical resistance at the $3.58 price. If the token breaks above the range, the token could enter a new ATH, which is more likely as the overall crypto outlook remains favorable.
2. Chiliz (CHZ)
As cryptocurrency use increases, assets such as projects like Chiliz could enjoy the windfall. It happens as the bull market takes effect. More and more sports fans are bringing their passion to crypto as they turn to the CHZ token to express their interest. Since the general crypto uptrend began in October of the previous year, CHZ has registered a price increase of over 150%.
Over the past 24 hours, the token has printed a surge of over 10%, sending it to the top of the gainers list today before heading into a reversal. CHZ is gradually approaching its resistance at $0.12 – $0.15. Braking above this range could see the token rise to $0.3 or higher.
I am very happy with this announcement in Korea, one of the largest crypto and blockchain markets. The first time you will see a sports league become a blockchain validator and build chain-based products. https://t.co/t06IsnoX4n pic.twitter.com/kNciCJPvNM
— Alexandre Dreyfus ???????? (@alex_dreyfus) February 19, 2024
Overall, there’s a good chance that CHZ will beat this price range given the recent partnerships the platform is forging in the sports industry. The partnership with Kleague marks an important milestone for the platform as it would strengthen trust in its holders. It would also increase its visibility in a country that is a major player in the crypto market.
Ultimately, investors should keep an eye on the Chiliz trend as the token continues, reinforcing its potential to become the next crypto to explode.
3. Scotty the AI (SCOTTY)
The growing AI trend allows traders who missed previous crypto cycles to capitalize and earn rewards. Fortunately, there are many pre-sale projects underway, opening the way to earning remarkable rewards, especially when the tokens are listed on exchanges.
Scotty the AI is an example of crypto opportunity on its way to becoming the coming crypto boom. The project combines the memecoin story with the prevailing AI story. From the trends comes what is the protector of the crypto industry. The details of the project’s fundamentals and its tokenomics are on the website.
????Presale update!????
ScottyTheAi has raised $500,000 in the early stages of pre-sales
Congratulations to all the early ones #Scottydogs in presale.
Buy now: https://t.co/zRmy4g8hfW #cryptocurrencies #Ethereum #binance $SCOTTY pic.twitter.com/uScsbKkd3t
— Scotty de Ai (@ScottyThe_Ai) February 20, 2024
At the time of writing, the token is valued at $0.00555, and the project has raised approximately $500,000 through pre-sales. Investors can fill their bags before SCOTTY goes live on exchanges. The market has yet to see the PEPE trend from the previous year. SCOTTY could take the lead this quarter.
Visit Scotty the AI presale
4. Fetch.ai Prize (FET)
Like every major cryptocurrency in the AI sector, FET has posted impressive performances in recent weeks. At the time of writing, the price of FET has increased by more than 5%, supplemented by a trading volume of 10%. The sudden turn of events for the token defeated many bears’ expectations as short positions were liquidated.
Today, the FET price briefly crossed the $1 mark before falling a few percent. Technical analysis data shows that FET recently experienced the golden cross when the moving averages changed trends. The market movement likely caused the visible gains in the price. However, RSI readings show that there is likely to be a pullback due to the overbought signals.
Therefore, the falling price could be an opportunity to buy against the next move higher as the crypto AI sector continues to witness growing inflows and interest. The asset is currently at the USD 0.9 support zone, which could break due to bear pressure. However, it is likely to bounce out of the $0.85 range to return to its uptrend.
Big news! ????
In a recent promotion, @binance has recorded $FET in a campaign for their users between February 19 and March 3 ????️
Check out the details in their tweet below ???? https://t.co/6AgpnsF2jJ
— Fetch.ai (@Fetch_ai) February 21, 2024
Furthermore, the ongoing Binance campaign of putting AI tokens up for grabs is likely to result in an upward trend in the category.
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