Next Crypto Explosion Friday March 15 – Dogecoin, Jupiter, Solana

adminMarch 16, 2024

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Fund allocation to cryptocurrency assets is very attractive this season. While most institutional investors are pouring money into Bitcoin, retail investors and traders are driving the altcoin’s explosive price rise. The difference in selection has led to optimistic price performance for cryptocurrencies.

Meanwhile, the most important factor to pay attention to in this bull market is the new narrative. One of the growing stories that will influence future trends in the cryptocurrency market is the DePIN sector. The promise of blockchain-based decentralized physical infrastructure technology across industries is enormous.

Next Cryptocurrency to Explode

Investors are currently hedging their bets on the DePIN project and cryptocurrency assets, hoping they will become the next big thing in the cryptocurrency ecosystem. For example, 5th Scape is a recent notable project. This post focuses on revolutionizing the way the world interacts with and uses VR technology, and this post looks at what this means for the evolving world of blockchain.

1. Dogecoin (DOGE)

Dogecoin made headlines during the previous bull market with performance that surprised cryptocurrency investors. Amazingly, the asset price rose from $0.004 to $0.73 in less than 180 days. Talk of its previous achievements still lingers among cryptocurrency traders, as it has created several instant cryptocurrency millionaires.

Surprisingly, Dogecoin may be gearing up for another outstanding run this cycle, as it recorded a significant price surge today. In the last 24 hours, the token has recorded gains of over 10%. We also saw increased trading volume, confirming growing investor interest in the asset. As of this writing, DOGE’s trading volume in the market is over $4.6 billion, a 68% increase from yesterday.

DOGE price chart

Despite a prolonged decline in activity across the network, it’s great to see DOGE returning to its glory days. To provide context, the only significant announcement recently made by the Dogecoin team and community is an upgrade to the wallet. Therefore, the price increase is an impressive milestone for Dogecoin holders, especially during a bull market.

#Dogecoin Version 1.14.7 is currently available.
If you are running Qt binaries (GUI wallets), we recommend upgrading as soon as possible.
Release notes and downloads can be found here: https://t.co/mx2O32V9Yn https://t.co/kDCy3XOF7C
— ☣ Junior Developer ☣ (@chromatic_x) February 28, 2024

In general, the rise in value of DOGE is not a coincidence. This is mainly due to the recent news that DOGE holders will soon have the opportunity to purchase Tesla with the token. This information appeared yesterday on Elon Musk’s official Twitter handle and reliable news outlets.

However, this is not the first time Elon has hinted at accepting cryptocurrency as a form of payment for Tesla. The news therefore sparked interest in the coin and conversation about the sustainability of the initiative. If Tesla follows its plan, DOGE could be one of the next cryptocurrencies to explode in the short and long term.

2. Jupiter (JUP)

Jupiter is gaining momentum again and social mentions of Jupiter have increased over the past seven days. This visibility could allow JUP to break all-time high valuations in this market cycle. Market data suggests that only a further 54% gain is needed to reach above $2, and the current uptrend could achieve that this quarter.

In the past 24 hours, the price of JUP has increased by 6%, with the new price more than 104% above the all-time low. Data in the chart also shows that the token’s trading volume has increased by more than 40%, reflecting renewed investor interest in the asset.

JUP price chart

As of now, it is difficult to say whether JUP will be the next cryptocurrency to explode given the choppy trends across the cryptocurrency market. Nonetheless, the data on the chart suggests that JUP is breaking out of its recent sideways trend and looking for further upside.

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JUP’s price action was primarily driven by recent improvements to exchange services. Value average updates allow users to balance portfolio growth without any hassle. We also aim to improve user experience and make Jupiter Exchange work more efficiently.

The overall increase in user base and improved platform performance is likely to lead to capital inflow and demand for JUP tokens. Ultimately, JUP will reach the $2 mark before the end of the year, but achieving that may require more effort from JUP bulls.

3. 5SCAPE

Virtual reality is the new wonder of the internet. Amazingly, we haven’t seen the end yet. A new wave of innovation is coming to the VR industry, and the combination of AI and blockchain technology is already changing the way virtual reality is done. More importantly, the future of VR technology largely depends on the success of the Web3 metaverse, which is based on blockchain technology.

In this case, the cryptocurrency community should not underestimate innovative projects like 5th Scape. This is a new platform that will form the backbone of the movement. It is an Ethereum-based platform that brings new emotions to the VR user experience. The project has established itself as the world’s first blockchain-based VR network. It is positioned as a connected virtual world where users can access futuristic games, visuals, entertainment, and more.

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— 5th Scape (@5th_scape) January 22, 2024

One of the key focuses of the team and ecosystem is ensuring that 5th Scape integrates well with existing VR technology. Therefore, ongoing work is underway to build partnerships and launch cross-platform operability. Investors can check the technical details of the project on the pre-sale page. We also share details about exciting and fun content and games you can look forward to. There are also plans to invest in hardware to offset the platform’s dependence on third-party technology.

Ultimately, the cryptocurrency community will witness a mix of key web3 technologies, including futuristic hardware, AI, blockchain, and cryptocurrencies. 5SCAPE is still available for pre-sale and interested investors can visit the pre-sale page to take advantage of the emerging technology ahead of listing.

Check out the 5th Scape Presale

4. Solana (SUN)

Solana is quickly becoming the chain of choice for most cryptocurrency projects, especially memecoins. While Ethereum has been the center of previous memecoin seasons, the current meme culture is primarily built within the Solana ecosystem. Solana’s total gains since the bull market began are over 650%, and tokens built on the chain have printed multi-millionaires.

As the token moves towards its ATH value, investors may need to brace themselves for further profits. At the time of writing, SOL is valued at $165, about 36% below its all-time high. With growing interest in the token, it is possible that its value could exceed $260 before the end of the quarter.

SOL price chart

Additionally, the data on the chart shows a consistent increase in SOL trading volume over the past 7 days. This trend, combined with the sharp rise, suggests that the accumulation period has just completed. This means that the current trend may exceed the $160 range. Apparently it touched a value of $172 today before reverting back to the current price.

On the other hand, investors may want to watch out for the $170 – $180 range as the price could shop in that area for a while before returning to the push above. Interestingly, there is little resistance to change SOL’s progress. Therefore, it could be one of the major cryptocurrencies to explode in this bull market.