After several weeks of impressive gains, the cryptocurrency market is currently in a slight correction. The total market capitalization of cryptocurrencies is down by 1.78% to $1.95 trillion. However, the broader outlook looks bullish, which means the current market correction is an opportunity to buy the dip. Under these conditions, a savvy investor may be asking, what is the next crypto to explode?
To answer this, you need to understand the difference between cryptocurrencies that have simply dipped in value and those in a selloff. This is not easy in a market with many pump-and-dump cryptocurrencies mixed up with valuable cryptocurrencies. The good news is that you have come to the right place for information about hot cryptocurrencies to buy in the current market dip.
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Read on to find out which cryptocurrencies hold the most upside potential.
Next Cryptocurrency To Explode
This article narrows down on high-potential cryptocurrencies whose price correction presents an opportunity for buyers to get in at favorable prices. The article touches on Ethereum’s price dip ahead of Dencun hard fork, JasmyCoin’s price correction as hype builds up in Japan, and Manta Network’s potential as it is added to more farming pools. The article also looks at MINU’s dip despite growing holder numbers and Bitcoin’s perfect entry point ahead of the halving.
Ethereum (ETH)
Ethereum (ETH) is, without a doubt, a hot cryptocurrency to buy the dip today. In the last 24 hours, Ethereum has dipped by 1.91% after pushing through the $3000 mark earlier. This correction allows investors to get into Ethereum at a favorable price because there is every reason for an Ether rally that could leave investors chasing the price.
One of the most significant factors that make Ethereum worth of buying the dip is the upcoming Dencun hard fork slated for March 13th. The hard fork will allow Ethereum layer 2s to more smoothly by cutting on their transaction costs. It’s an upgrade that is set to make Ethereum scale better and will have an impact on the price.
The ‘Dencun’ upgrade is a major hard fork upgrade, scheduled for March 13, which is intended to enhance the Ethereum network’s scalability, security, and usability.
It’s part of ‘The Surge’ on Ethereum’s roadmap, the series of updates focused on scalability. pic.twitter.com/hPoQAbjyLS
— Miles Deutscher (@milesdeutscher) February 21, 2024
Also, investors are keenly watching a possible approval of Ethereum ETFs on May 23rd. With all indicators of possible approval, the market expects a wave of institutional money to flow into Ethereum. Also, given that the possible ETF approval will happen post-Bitcoin halving, the odds of an Ethereum rally are quite high. With so much to look for in the coming weeks and months, Ethereum is a cryptocurrency worth buying the dip.
JasmyCoin (JASMY)
JasmyCoin (JASMY) is another hot cryptocurrency a savvy investor would want to consider that the market is in a minor correction. After more than doubling in price in less than a month, JASMY is down by 12%.
This is a case of short-term profit-taking because the fundamentals for JasmyCoin are getting stronger. One of the fundamentals likely to drive this token is the change in Japanese regulations to allow Venture Capital firms to invest in crypto assets directly. JasmyCoin, being one of the hottest cryptocurrencies in Japan at the moment, stands to benefit the most from such regulations.
Also, there is a lot of positive messaging around JASMY at the moment that could help propel it higher than it already has. This includes rumors that it could partner with major Japanese corporations like Toyota. These are all factors that make JASMY a top crypto to buy as the market eases up ahead of the week. The odds of a rally, once Bitcoin puts the market back in bullish territory, are high.
Top 5 Coins by AltRank™ over the last 24 hours on @Lunarcrush! $FIL @Filecoin $ONDO @OndoFinance $KAS @KaspaCurrency $JASMY @JasmyMGT $HBAR @hedera
Top influencers are @WorldOfCharts1 @degengambleh @plzsats @HARA_JasmyCFO @OCryptoTroll⚡️🚀 pic.twitter.com/z8yfva4LA1
— BlockTalks (@HiBlockTalks) February 20, 2024
Manta Network (MANTA)
Manta Network (MANTA) is currently down by 8.63%. That’s despite its increasingly strong market presence as one of the best networks for building efficient Dapps. Manta Network is also increasingly being added to different DeFi networks, opening up opportunities for investors to earn a passive income by investing in MANTA tokens.
Steer Protocol is the latest DeFi project to add MANTA to its farm pools. The returns on this protocol for MANTA are pretty high, standing at more than 300% APR. This and Manta Network’s overall strong fundamentals will likely draw in more investors to the token.
🔔 New Farm Pool Alert!
🚀 Dive into the new Dual Reward Farm Pool by @MantaNetwork on @QuickswapDEX and Earn both $QUICK and $MANTA tokens now! 💸
🏆 Dive into these high-yield pools:
🏊 $WETH – $STONE (0.05%) ~368% APR
🏊 $WETH – $MANTA (0.05%) ~318% APR
🏊 $MANTA – $STONE… pic.twitter.com/amhYPfweCV— Steer Protocol (@steerprotocol) February 22, 2024
Since prices are a function of demand and supply, the odds of MANTA going higher than it already has are pretty high. For this reason, a rally after this slight dip is almost guaranteed, making MANTA one of the best cryptocurrencies to invest in today.
MINU (MINU)
MINU (MINU) is up by more than 300% in the month and has been making double-digit gains daily for days. As such, it is not surprising that it has dipped more than most top altcoins in the last 24 hours. MINU is currently down by 28%, as some investors take profit after such an impressive run.
However, all pointers are towards a continuation of the rally. That’s because more holders are entering the MINU ecosystem, which now stands at over 8000. What is attracting people to MINU is the ability to mine BNB. The good news is that as more people jump into mine MINU, it positively affects the supply and demand dynamics of the token.
Add to that the possible listing on a top-tier exchange, and it’s easy to see why MINU is one of the next cryptocurrencies to explode in today’s market dip.
$MINU will be listed in a Top Tier CEX. We are in communication currently and once deal is closed, you will directly see the announcement from CEX’s Social Media.
We were listed on @ProBit_Exchange at 800-900k MC that is Top 20. Now we are talking with a bigger one.
👉Try to…
— Prince⚡️ (@PrincesFast_) February 22, 2024
Bitcoin (BTC)
Bitcoin (BTC) is the king of the crypto market and is the key determinant of the broader market movement. In the last 24 hours, Bitcoin has dipped by 2%. This price is largely driven by technical factors, mainly Bitcoin’s inability to push through the $52,300 resistance earlier in the week.
However, the fundamentals remain strong, and buying volumes are already pointing to a rebound. With halving hype still strong, and the sustained inbound flow of capital through ETFs, there is no doubt that a bounceback is underway.
Spot #Bitcoin ETF inflow is growing exponentially. pic.twitter.com/peZKy93YDS
— Crypto Rover (@rovercrc) February 23, 2024
With many analysts expecting Bitcoin to hit highs above $69k once it breaks the $52,300 resistance, it is not hard to see why we believe it is one of the safest cryptocurrencies to invest in today.
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