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The overall feeling in the market is beginning to look positive. Recently, Bitcoin (BTC) finally rose above $70K but wasn’t able to stay above that price for long. Meanwhile, Ethereum (ETH) is striving to stay above $2,500 once more as investors still anticipate the next bull run.
Determining the next cryptocurrency to explode might be challenging as most funds are attracted to pumping assets. However, this article will explore the performance of cryptocurrencies that have a lot of growth potential, especially during the Uptober bull run. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Memebet Token. This new Telegram-based betting platform allows users to bet using meme coins for the first time, generating excitement among crypto enthusiasts. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Gigachad (GIGA)
Gigachad, a meme coin built on Solana, has gained significant traction due to endorsements from popular figures like Ernest Khalimov, the face behind the Gigachad meme, and bodybuilder Mike O’Hearn. Backed by these endorsements, GIGA has shown resilience in today’s bearish market. Its price is up by over 7.40% in the last 24 hours, boosting its market cap to $504.82 million.
The price of Gigachad has been trending upward, with higher highs and lower lows observed in September and October. According to GeckoTerminal, GIGA is consolidating near its recent highs, with bullish momentum pushing it above the $0.0510 resistance level. This recent movement hints at a possible ascending triangle pattern, suggesting further potential growth.
Gigachad’s price is currently trading above both its 50-day and 200-day Simple Moving Averages (SMAs), supporting a positive outlook. Its Relative Strength Index (RSI) is at 60.56, which places it in a neutral-to-bullish zone, suggesting there is still room for growth before it reaches overbought conditions.
We're now past the halfway point in the season of the CT Fantasy Football league, and things are quite different from the first few weeks.. @blknoiz06 is beginning generational run crawling back from 0-5, now 3-5 @wtobe60 is currently plateauing, with his team putting up… pic.twitter.com/ScZtxL7caJ
— $GIGA Chad (@GIGACHAD_meme) October 30, 2024
Gigachad has gained momentum, partly due to its strong ties to the fitness world through its sports brand, Giga Fitness. However, as with many meme coins, its performance relies heavily on social media interest. While GIGA presents short-term profit opportunities, its long-term success will depend on maintaining community interest and offering value beyond celebrity endorsements.
With an active community and increasing interest from larger investors, GIGA is carving out its place in the competitive meme coin space, hinting at the potential for future growth.
2. Raydium (RAY)
On Monday, October 28, Raydium (RAY) crossed the $3.45 mark, showing a 16.8% increase in 24 hours. This rise was part of a broader trend among Solana-based decentralized exchange tokens, including Jupiter (JUP) and Aerodrome Finance (AERO), which helped Solana surpass Ethereum in daily transaction fees.
Throughout the past month, RAY prices gained 79.87%, moving from $2.24 to $3.48. This boost followed Kraken Pro’s addition of RAY futures trading on October 25, which expanded trading options for the Solana-based token. An October 23 upgrade also improved Raydium’s liquidity and swap speeds, increasing transaction volumes.
Currently, Raydium is the third-largest decentralized exchange by daily trading volume. Its price surge has positioned it among the top five DeFi protocols on Solana. According to DeFiLlama, Raydium now ranks fifth in total value locked (TVL) on Solana, which has risen by 29.31% over the past month, reaching $2.62 million.
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— Raydium (@RaydiumProtocol) October 31, 2024
Raydium’s trading volume continues to grow steadily, now placing it fourth among decentralized exchanges (DEXs) with a daily volume of $358.3 million. Its concentrated liquidity market maker (CLMM) variant holds third place, with a volume of $366.5 million. According to a team update from March 19, Raydium’s market cap has exceeded $905 million, supported by strong trading activity that has driven up RAY’s price.
Further Analysis of Raydium indicates a bullish trend, suggesting it may rally beyond the $3.40 level, as it has stable support above the $2.00 mark. The technical indicators for Raydium point toward continued upward movement, with no signs of immediate reversal. Its 50-day, 100-day, and 200-day simple moving averages (SMA) are all trending upward, highlighting its strong position in the market.
3. Memebet Token (MEMEBET)
Memebet Token ($MEMEBET) is gaining strong momentum, having raised over $550,000 in its presale. This unique project is the first to combine meme coins with Web3 gaming, using them as betting currency in its Telegram-based casino. It has quickly become a favorite among dedicated fans, giving them a chance to see real returns on their meme coin investments.
Excitingly, social media rumors suggest that the online casino could open this week. This would give presale participants an exclusive look at the perks available to $MEMEBET holders just over a month after the presale launched.
Rewards are also expanding, with chances to win $1,000 worth of tokens and other real-world prizes. Newcomers looking to use meme coins creatively can join the presale to get $MEMEBET at $0.0263 per token. However, this price is only available for a couple of days before the 15th presale round begins at a higher rate.
Although the launch date for Memebet’s Telegram casino is still uncertain, early $MEMEBET token holders could enjoy valuable perks once it goes live. For presale investors, especially those cautious about high-risk trading, the chance to invest in a token that connects meme coins with Web3 gaming is intriguing.
This combination of two fast-growing sectors creates a strong potential for future growth. For those interested in investing or testing their luck, joining $MEMEBET is easy. Simply visit the $MEMEBET token website, connect your wallet, and exchange ETH, BNB, or POLY for $MEMEBET tokens. A bank card option is also available for extra convenience.
Visit the Memebet Token Presale Website
4. Retardio (RETARDIO)
Retardio is a unique and lively project within the Solana ecosystem, gaining attention through its playful meme-based approach. The origins of the Retardio token are mysterious, with anonymous creators and secretive beginnings. This has sparked interest from a community of early adopters, who are drawn to the project’s unconventional and adventurous spirit.
Stories surround Retardio’s launch, adding to its mystique and appeal. Its path has surprised many, attracting a growing group of followers who want to join its journey. The project suggests that everyone has a part of the “Retardio spirit” within them, waiting to explore new possibilities.
One of Retardio’s most anticipated elements is its collection of 4,444 NFTs, known as Retardio Cousins. Built on the Solana blockchain, each NFT offers unique ownership benefits, aiming to strengthen the community and open doors to future potential in the ecosystem.
The current price of RETARDIO is $0.1675, marking a 32.60% increase over the past 24 hours. Its market cap has also grown by 33% to reach $163.38 million, and its 24-hour trading volume surged by 260.55%, reaching $14.04 million. In the past month, RETARDIO has seen positive trading activity on 16 different days.
The sentiment around RETARDIO remains bullish, with a Fear & Greed Index score of 69, indicating a high level of market confidence. This upward trend, along with the rise in daily trading volume, shows that investors are optimistic about its growth. With strong community support, RETARDIO has promising potential. If the project secures partnerships with other networks, the price could soon exceed $1.52.
5. aelf (ELF)
Like many altcoins, aelf (ELF) has experienced a lot of price swings this year, with a mostly bearish trend so far. However, several technical indicators now point to potential bullish growth. A positive regulatory environment and advancements in technology have helped Aelf’s gradual growth.
These factors support broader crypto adoption. Additionally, the launch of Bitcoin ETFs and stronger compliance by large exchanges are key influences on its growth. As a result, ELF could reach an average price of $3.50 and potentially hit $4.75 by 2025.
Aelf has also built a network of strategic partnerships across the industry, including with Huobi, a major digital asset exchange. This partnership helps increase aelf’s token liquidity and adoption. Furthermore, partnerships with platforms like Innovation Alliance are helping aelf advance its blockchain technology.
🚨(CHAIN)GE IS HERE: Introducing aelf's dAppChain!
With over half a billion transactions and leading #Web3 on @Telegram, dAppChain is purpose-built to create and power seamless #dApp experiences.
Read the full announcement 👉https://t.co/CCkuAY59UF
More details in 🧵
[1/4]— aelf (@aelfblockchain) November 1, 2024
Currently, aelf (ELF) is trading at $0.3545, with a market cap of $260.14 million. In the last 24 hours, its price rose slightly by 0.11%, placing it at rank 182 in overall cryptocurrency rankings with a trading volume of $12.25 million. Though the current sentiment is bearish, the Fear & Greed Index shows a score of 69 (Greed), indicating optimism. Additionally, token transaction volume has risen, suggesting confidence in a possible uptrend. Finally, the 14-day Relative Strength Index (RSI) is at 31.40, keeping aelf in a neutral zone for now.
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