Highlights:
- Bitcoin’s surge past $81k, coupled with pro-crypto political developments and ETF inflows, indicating a strong potential for continued growth.
- Dogecoin’s weekly 90% increase and high trading volume signal a potential parabolic move, positioning it as a standout in the memecoin market.
- SUI’s impressive market gains this year, driven by high trading volume and broad utility in dApps, make it a promising crypto investment for 2024.
The crypto market continues to see significant fluctuations, with many crypto prices surging recently. The leading asset, Bitcoin, is leading the bullish rally, pumping to a new ATH and currently consolidating around $80k. Additionally, the largest altcoin, Ethereum, has followed suit, climbing above the $3k mark.
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The bullish sentiment follows Donald Trump’s presidential victory, elevating the total crypto market cap to levels observed in the March bull run, hitting $2.70 trillion. Trading volume has surged above $200 billion. Furthermore, Bitcoin’s dominance remains at 58%, while the fear and greed index climbs to 79, indicating greed.
Despite the bullish sentiment, selecting the next cryptocurrencies to explode could be difficult. So, let’s examine the performance of these selected cryptocurrencies and the recent developments that might ignite their price.
Next Cryptocurrencies to Explode
1. Bitcoin (BTC)
Bitcoin soared past $81k, marking a new all-time high. Over the past 24 hours, BTC has gained 2.64%, correcting to $81,163. BTC has surged by 17% and 28% on the weekly and monthly charts, respectively. In addition, the market cap and trading volume rose to $1.61 trillion and $77 billion, respectively.
After Donald Trump’s presidential victory and emerging Congress members being crypto-friendly, pro-crypto sentiments rose. The cryptocurrency sector supported pro-crypto US candidates, investing over $119M, hoping for crypto-friendly legislation. Moreover, the rally was fueled by massive inflows into Bitcoin ETFs, totaling $1.6 billion last week.
BITCOIN BREAKS RECORD $81,000 AMID ETF INFLOWS & PRO-CRYPTO POLITICAL SHIFT
– Bitcoin smashed past $81,000, marking a historic high as pro-crypto sentiments rise with Donald Trump’s election victory and new crypto-friendly Congress members.
Here’s a Breakdown:
– Bitcoin… https://t.co/k2AJpOwLGG pic.twitter.com/WbEOpoHjPF
— BSCN (@BSCNews) November 11, 2024
Bitcoin has surged over 90% this year, doubling from a January low of $38,505. Recent Federal Reserve interest-rate cuts also boosted investor enthusiasm. Analysts predict continued demand for Bitcoin, positioning it as one of the next cryptocurrencies to explode. Noelle Acheson believes Trump’s support will pave the way for favorable regulation, while Richard Galvin foresees sustained buying momentum.
2. Dogecoin (DOGE)
Dogecoin, the largest memecoin, is trading at $0.2837 after a 24% increase in the past 24 hours. It has surged by more than 90% over the last week. Dogecoin is now the sixth major cryptocurrency, surpassing XRP and US dollar currency (USDC) with a market cap of $41 billion. Its daily trading volume also surged by 220% to $18.56 billion.
Crypto analyst Ali Martinez on X believes Dogecoin may be about to make a major upward movement. Based on historical patterns, he predicts that we could see a peak along the Fibonacci levels between 1.618 and 2.272, which translates to a price range of $3.95 to $23.26.
#Dogecoin $DOGE is about to go parabolic! Based on historical patterns, a potential top might lie between the 1.618 and 2.272 levels, translating to a price range of $3.95 to $23.26. pic.twitter.com/FqvC3AEF7o
— Ali (@ali_charts) November 10, 2024
Dogecoin is beginning to head toward the Parabolic phase, according to Ali’s projections, Dogecoin still has massive growth potential, posing it as the next memecoin to explode. As the memecoin market shows renewed momentum, investors should closely monitor Dogecoin’s price movement.
3. Sui (SUI)
SUI stands out as one of the best cryptos to buy in 2024. Its price jumped 7% in the last 24 hours and 60% over the past week to trade at $3.15. Consequently, its market capitalization hit $9 billion, surpassing Chainlink, which ranked 14th, according to CoinMarketCap data.
Moreover, SUI’s trading volume soared by over 250% on the last day. It reached a new all-time high of $3.28. Over the past year, SUI outperformed 87% of the top 100 cryptos with a 455% price increase.
$SUI is Unstoppable! Hits a New ATH Today at $3.28. 🚀#SUI outperformed 87% of top 100 #cryptos in 1 year with price rising by 455%. 🔥$SUI is now the 14th largest cryptocurrency by MC of $9.16B, overtaking #Chainlink ( $LINK).
Is SUI to hit $10? 📈
➡️ $SUI is in a bullish… pic.twitter.com/NgRU2npIGg
— Coinpedia Markets (@MarketCoinpedia) November 11, 2024
Analysts predict SUI could hit $10 if bullish momentum continues. The coin trades above all moving averages and has strong support at $3.05. Additionally, the RSI rose from 43 to 78, signaling strong market interest. Demand will likely rise further with nearly 200 dApps using SUI for gas fees.
Final Thoughts
Recent market trends and developments make Bitcoin, Dogecoin, and SUI the relatively promising next cryptocurrencies to explode. With continued pro-crypto sentiment and more trading volumes fueling these assets, these are bound to surge in the near term.
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