Next Crypto Explosion Monday February 26 – Cardano, Immutable, Mantle

adminFebruary 27, 2024

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Currently, assets in the Ethereum ecosystem and GameFi sector are growing. The surging price coincides with growing interest in cryptocurrency AI projects, which has many wondering if this is the next cryptocurrency to explode.

Today, Cardano, Immutable, Optimism, and a handful of other cryptocurrencies set the pace for the market this week with impressive price action. As the market approaches halving, several upcoming projects are also making notable progress.

Next Cryptocurrency to Explode

Meme Kombat, just a few days away from listing, is one of the upcoming cryptocurrency projects to watch this season. This project combines GameFi trends and innovative memecoin initiatives. It also utilizes the concept of deflation to ensure a continuous increase in MK token value. The overall outlook for the project looks promising, and the article provides brief highlights of its achievements.

1. Immutable (IMX)

The excitement surrounding the ETH price surge may have overshadowed the potential of other cryptocurrencies in the ecosystem. Most importantly, many traders currently underestimate the potential of the Immutable IMX token. This token is likely to be one of the next cryptocurrencies to explode as the bull market gets into full swing.

Immutable is designed to serve as a scalable layer 2 platform for the Ethereum chain, specifically its NFT wing. As expectations rise for the Ethereum spot ETF and Dencun upgrades, layer 2 projects are also poised to ride the wave. IMX holders are therefore in a position to capture a windfall. Additionally, use cases for the network are growing and encouraging more users and developers to participate.

IMX price chart

Interestingly, trends in the Ethereum ecosystem have led to a surge in IMX price by nearly 70% in the past 30 days. Market data shows the potential for further upside as it is already putting pressure on the $3.4 resistance. The upward trend of ETH token will lead to further rise in IMX price.

Immutable zkEVM requires no gas for gamers!
Immutable will pay all gas costs for eligible games and marketplaces on Immutable zkEVM. @0xpolygonUntil September 2024.
Players and traders using Immutable Passport will have gas fees removed from their user experience… pic.twitter.com/y6JMZJZ5Iq
— Immutable (@Immutable) February 20, 2024

Moreover, the recorded price rose by more than 3% today and the volume increased by 30%. The increasing trend shows that the bulls are still moving. Additional details of the technical data show that the RSI indicator remains neutral and the price remains below the moving averages of the 200-day and 100-day indicators.

On the other hand, investors could watch for increasing bearish pressure in the near term as the 10-day and 20-day moving averages indicate increasing selling pressure. In such cases, it is best to carefully review the trends before making a decision.

2. Meme Combat (MK)

With Meme Kombat’s listing about eight days away, more investors are flocking to the pre-sale page before the project launches. The project has a growing number of stakers, with 12,966 participants at the time of writing. As a result, over 41,435,828 were staked with an APY of over 95%.

Telegram community members exceed 10,000🥊
Let’s go pic.twitter.com/N7jnNHv6O4
— Meme Kombat (@Meme_Kombat) February 25, 2024

Investors will not have to wait for MK to fully launch before receiving rewards. The project paid out over 9,367,789MK in compensation. The higher the stake, the higher the rewards. The Meme Kombat project has a unique niche with its mix of gaming features and utility through the meme coin concept.

As the project debuts, investors still have the opportunity to purchase and stake MK tokens at a discounted price. At press time, the value is pegged at $0.279. Upon listing, its value will increase significantly considering the number of holders it has accumulated during the pre-sale period. By participating early, investors can reap significant ROI from the initial upswing.

Visit Meme Kombat Presale

3. Mantle (MNT)

Considering the recent trends in the DeFi sector, the chances of MNT turning into an upward trend are relatively high. Since BitDAO switched 1:1 to the Mantle token in the second quarter of last year, the token has struggled to maintain its price above its launch price of $0.4.

However, as usual, today Mantle price reached $0.95 and then set a new ATH. The pressure on asset prices would have been caused by a 250% increase in asset trading volume. In the last 24 hours, the price rose by 20% before falling to the current price of $0.88.

MNT price chart

However, the recent surge in value is not unfounded, as an ongoing vote request from the community is putting it on the map. Following the recent UNI price action, many are expecting a similar trend in the MNT community.

As the current value is trending closer to the oversold range, it is likely that a reversal will take effect, pushing the asset price closer to the $0.80 range. However, finding support at the price level is likely to reignite the bullish trend. Alternatively, a strong signal in current demand could push the asset back above $0.95 ATH.

4. Cardano (ADA)

The Cardno token, ADA, has been under the radar for quite some time, mainly due to rampant legal issues. However, since the start of the new quarter, the token has attempted to rise in price several times. Recent trends suggest that ADA has the potential to become the next explosive cryptocurrency.

Over the past seven days, the layer-1 cryptocurrency has recorded an increase of more than 20%, bringing its price closer to previous quarterly highs. However, the price quickly encountered resistance where it reversed to the current price of $0.5799.

Today, ADA is showing more signs that the token may be ripe for a rally. In the early hours of the day, it recorded a volume increase of almost 20% and a free price increase of around 10%. Unfortunately, the bullish force may not be enough to push asset prices to new highs. However, this prepares the token for a breakout.

ADA price chart

Looking at the recent price structure, especially over the last 20 days, we can see that ADA broke out of the range and found support at the $0.57 price. A further push could test the $0.6 resistance again and attempt a breakout. A break above the resistance level is likely to push the price of ADA up to $1.

Another detail that could fuel the ADA rally is the recent surge in the number of daily wallets created on the Cardano network. Current data shows that there have been around 3219 wallets since February 22nd. Additionally, increased activity means the token will be the next cryptocurrency to explode.