Next Crypto Explosion Friday, January 12 – HEX, Bonk, eCash

adminJanuary 13, 2024

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Cryptocurrency markets are known for their volatile values and unpredictable trends, leading investors to continually look for opportunities to make significant profits. That’s why Insidebitcoins searches the market for the next cryptocurrency poised to explode, giving investors the tools to make informed market decisions. In this article, we will look at tokens that have the potential to earn you significant returns. Additionally, we will examine the factors contributing to the growth of specific cryptocurrencies that are expected to make significant breakthroughs.

Next Cryptocurrency to Explode

In a BBC interview, Cathie Wood recently shared a positive outlook for Bitcoin’s future price. She predicts that Bitcoin could reach $1.5 million by 2030. She further emphasized that the recent approval of a Bitcoin spot ETF (exchange-traded fund) in the US is a key factor. Wood, who reportedly initially predicted $1 million, noted her recent developments, which led her to revise her estimate upward.

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In addition, the U.S. Securities and Exchange Commission (SEC) recently approved a Bitcoin spot ETF, opening the way for at least nine ETFs to be traded on the U.S. stock exchange. This created immediate enthusiasm in the market. Moreover, Bitcoin price responded positively on Thursday, surging 9% within the first hour of trading.

1. Ecash (XEC)

eCash’s recent market performance has shown a positive trend, surging 10.59% over the past seven days. Currently trading at $0.00003755, the token is showing a daily gain of 1.32%. A notable development is the announced listing of eCash on KoinBX on the X platform.

XEC price chart

XEC has a 24-hour trading volume of $24.58 million, showing growing interest and activity from investors. With a circulating supply of 19.61 trillion XEC tokens, eCash currently has a market capitalization of $746.36 million.

📣 New listing notification! 🚀
🔜 eCash $CHECK 🤝 @CoinBX
Pay attention! 🙌 https://t.co/RJW9Y2ZMAg
— eCash (@eCashOfficial) January 11, 2024

The annual supply inflation rate is reported at 1.92%, generating 369.65 billion XEC over the past year. In the layer 1 segment, eCash ranks 42nd by market capitalization.

In the past year, eCash has seen a 44% price increase, surpassing its 200-day simple moving average. Cryptocurrencies boast high liquidity, as can be seen from their market capitalization. Trading on Binance further strengthens eCash’s accessibility and market presence.

2. BONK

BONK’s Money Flow Index (MFI) showed a marked upward trend, indicating increased market activity. The token’s Moving Average Convergence Divergence (MACD) also suggested a bullish crossover, hinting at a potential price increase. But let’s take a closer look.

BONK price chart

According to CoinMarketCap, investors have seen the value of BONK rise a solid 33.33% in the past week. However, there was a slight decline of 11.04% in the last 24 hours. The current supply of BONK is 63.33 trillion out of 100 trillion.

Last year, approximately 16.83 trillion BONK was created, increasing the annual supply by 36.20%. In the memecoin sector, it ranks 3rd in terms of market capitalization. In addition, it shows a steady trend by trading above the 200-day moving average line and has high liquidity based on market capitalization.

Margin blood (@marginfi)
Over 13,00 new BONK accounts were created for users who borrow or lend during BONKmas. $BONK15% increase in new users!
13/ pic.twitter.com/6ViMzEJ7Gt
– Bonk! (@bonk_inu) January 5, 2024

Last year, BONK’s price rose a whopping 1,263%, outperforming 97% of the top 100 cryptocurrencies. This looks promising, but potential investors should be aware of the risks involved. Although BONK is still in its infancy, it is a notable cryptocurrency in line with the decentralization trend.

3. Meme Combat (MK)

Meme Kombat attracted investors with its unique game features and the promise of potential passive income through its staking mechanism. The project combines various meme coins within the platform, allowing users to engage in predictive betting on the outcome.

MK has introduced a live betting system where stakers can bet and earn Annual Percentage Yield (APY) at the same time. This mechanism is considered innovative and dynamic, combining on-chain and off-chain transactions to minimize user fees.

$6.6 million passed🌙$MK We’re moving fast and working hard to create engaging gaming experiences👾 pic.twitter.com/JQh2OBWoRU
— Meme Kombat (@Meme_Kombat) January 11, 2024

Users can choose between staking or distributing tokens for battle within the integrated gaming system. $MK tokens have raised over $6,700,852.96 of the $8,000,000.00 goal, with each token priced at $0.279.

Operating on the Ethereum blockchain, MK shares similarities with $PEPE. The project has seen significant success, raising over $5 million in its initial coin offering (ICO) and reaching its 50% goal. Investors are given the opportunity to stake $MK to earn a competitive APY of 184%.

With 78% of the total coin supply already sold and staked, Meme Kombat expects less selling pressure on exchanges than for newly listed tokens. Token supply is limited to 120,000,000, with 50% allocated to the ICO. The remaining distribution is allocated to staking, battle rewards, community incentives, etc. This strategic allocation aims to foster a sustainable ecosystem for Meme Kombat.

The project’s well-thought-out token distribution strategy focuses on long-term sustainability. As altcoin season gains momentum, Meme Kombat is the next cryptocurrency set to explode. However, as with all investments, potential investors should conduct thorough research and consider the risks involved.

Visit Meme Kombat Presale.

4. HEX

After three months of decline, HEX has crossed above the downtrend line, indicating a potential trend reversal. The current trend is bullish and shows potential for continued upside, with RSI above 70.

HEX was quite bullish last week with an impressive 139.02% gain and strong support at the market bottom. According to the latest data, with an increase of 9.99% in one day, HEX price is $0.01089.

The HEX cryptocurrency chart shows positive signs such as increased buying activity. However, it is important to note that HEX is below the 200-day simple moving average. It has outperformed 99% of the top 100 cryptocurrency assets over the past year, but lagged behind Bitcoin and Ethereum.

HEX price chart

The circulating supply of HEX is 173.41 billion out of a maximum of 633.54 billion. In terms of market capitalization, HEX ranks 3156th in the Ethereum token sector, representing less than 27% of the total circulating supply, indicating low liquidity.

Moreover, HEX’s recent positive momentum, as evidenced by price surges and bullish signals, suggests a potential reversal. However, investors should keep in mind low liquidity and the fact that HEX is trading below its 200-day simple moving average.