Next Cryptocurrency to Explode, 11 December — Gigachad, XRP, SPX6900, Raydium

The global crypto market cap has fallen 19% in the past 24 hours, but the overall market sentiment is positive. Cryptocurrency prices have fluctuated for a while, including Bitcoin (BTC). BTC finally went above 100K, even though it couldn’t stay above the 100K mark for long. Meanwhile, Ethereum (ETH) seems to be closing in on 4K.

Identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token. 

Next Cryptocurrency To Explode

Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.

1. Gigachad (CHAD)

Gigachad ($GIGA), a meme coin built on the Solana blockchain, has been turning heads in the crypto market. It is fueled by endorsements from popular figures and a supportive bullish trend. These factors have helped GIGA show impressive resilience, with its price jumping 24.23% in the last 24 hours to reach $0.06685, pushing its market cap to an impressive $621.86 million.

Over recent months, GIGA has demonstrated a steady upward trend, characterised by higher highs and lower lows during September and October. According to GeckoTerminal, the token recently consolidated near its highs, with bullish momentum breaking through the $0.0510 resistance earlier this month. This move hints at forming an ascending triangle pattern, often a sign of potential further growth.

In the past week alone, GIGA’s price surged by 59.95%, bolstering confidence among investors. The token remains above its 50-day and 200-day Simple Moving Averages (SMAs), reinforcing a positive outlook. With a Relative Strength Index (RSI) of 60.56, GIGA sits in a neutral-to-bullish zone, leaving room for growth before hitting overbought territory.

A key driver of GIGA’s momentum is its ties to the fitness world through its sports brand, Giga Fitness, which adds a unique dimension to its appeal. However, like most meme coins, its performance heavily depends on social media buzz and community enthusiasm. While GIGA presents exciting short-term profit opportunities, its long-term success will rely on sustained community engagement and delivering value beyond celebrity endorsements.

2. XRP (XRP)

As BitcoXRP’sTC) experiences a modest rise of 0.31% to $87K, XRP is stealing the spotlight with its strong upward momentum. This recent price surge is driven by a key technical breakout and renewed optimism within the crypto community. Adding to the excitement are rumors that SEC Chairman Gary Gensler might step down, sparking hopes for regulatory shifts and further energizing XRP’s rally.

XRP’s recent climb is more than a temporary spike. It reflects a long-anticipated breakout that traders have eagerly awaited for years. The cryptocurrency had been stuck in a descending triangle pattern for nearly four years, leading to extended periods of consolidation and downward pressure. However, on November 12, XRP finally broke out of this pattern, surpassing the $0.58 resistance level on the weekly chart. This breakout has since fueled an impressive 300.80% price surge.

Today, XRP built on this momentum by crossing another significant resistance level at $2.2, a key psychological milestone closely watched by analysts. After briefly retreating to $2.29 for a retest, XRP resumed its climb to $2.34. This successful retest has strengthened investor confidence, indicating that XRP’s upward trend will likely persist.

XRP’s next major resistance is $2.4, just 2.6% higher than its current price. If it breaks past this level, it could signal the start of a stronger bullish trend, driving the price toward its next target of $3.35. Achieving this milestone would mark a remarkable 43.2% increase, making XRP a cryptocurrency worth watching closely in the coming weeks.

3. Pepe Unchained (PEPU)

Pepe Unchained (PEPU) has captured the spotlight with a remarkable 107% price surge over the last 24 hours, reaching $0.02156 as of 11:00 p.m. EST. This growth was fueled by trading volume skyrocketing to $21.3 million following its highly anticipated presale launch on Uniswap on December 10. The development team has hinted at rapid upcoming centralised exchange (CEX) listings, sparking speculation about potential debuts on platforms like Coinbase or Binance.

A closer look at the PEPU/USD 15-minute chart reveals a rounding bottom pattern: bulls leveraged the $0.013 support level to drive the price upward. Data from GeckoTerminal highlights a significant recovery from the $0.013 zone, peaking near $0.025 before settling at $0.01915.

The slight rebound from the $0.01915 support suggests the possibility of forming a cup-and-handle pattern. Such a formation could signal further upward momentum. The asset trades well above its 50-day Simple Moving Average (SMA), a positive indicator of its bullish potential. Meanwhile, the Relative Strength Index (RSI) sits at 56.72, reflecting neutral-to-bullish conditions. After briefly entering the overbought zone, the RSI has pulled back, aligning with the current consolidation phase.

If buyers maintain their momentum, PEPU could target the $0.026-$0.030 range. On the other hand, if sellers gain control, immediate support can be found at $0.020 and the 50-day SMA at $0.01729. A drop below these levels might indicate a bearish shift. Pepe Unchained’s impressive price action, strong community interest, and looming exchange listings make it one of the most exciting meme coins of the year. Investors will be watching closely to see if this momentum continues.

Visit the Pepe Unchained Website

4. SPX6900 (SPX)

SPX6900 (SPX) is gaining attention as it trades at $0.7318, boasting a market cap of over $681.15 million. This meme coin shows strong momentum despite facing more lows than highs in the past two weeks. Its consolidation within a bullish pennant pattern suggests a possible upward breakout, propelling the price past a key resistance level and potentially sparking a rally toward $2.

Selling SPX6900 now might mean missing out on significant gains. With the year’s final quarter approaching, holding onto this altcoin could be a wise strategy as momentum builds. The token’s impressive 9.89% weekly gain and an astonishing 13,511.96% annual rise make it a favorite among investors. SPX6900’s price climbed over 4% in just one day, highlighting its growth potential.

Since its launch over a year ago, SPX6900 has skyrocketed more than 13,000%, securing its spot as one of the top meme coins by market cap. Drawing inspiration from the fictional S&P 6900 index, SPX6900 thrives on meme culture and social media buzz, much like popular tokens Shiba Inu and Pepe.

Analysts are closely watching the $0.78 resistance level. A breakout above this mark could push SPX to challenge the $1.00 milestone, with the next resistance at $0.98. With the Relative Strength Index (RSI) nearing 69, the bullish trend looks promising, though traders should stay alert for potential reversals.

5. Raydium (RAY)

Raydium has emerged as a powerhouse in the decentralized exchange (DEX) space, recently outperforming Uniswap to claim the top spot for two consecutive months. With a staggering monthly trading volume of ~$125 billion, Raydium outpaced Uniswap’s ~$91 billion by nearly 30%, cementing its position as a leader across all chains.

The platform’s rapid growth began in October, driven by its ability to consistently capture over 60% of Solana’s daily DEX volume. This success mirrored a broader trend of Solana surpassing Ethereum in daily DEX activity. In November, Solana claimed 50% of monthly DEX volume across all chains, a significant lead over Ethereum’s 18% share. Raydium’s momentum was further bolstered by its V3 launch in March and a surge in meme coin trading in November, which propelled it to the top spot on Solana.

Raydium’s recent performance has been equally impressive. Over the past 24 hours, the token surged by 22.54%. On November 9, it marked a 34-month high of $5.97 after climbing for four consecutive days. This rally made it the month’s top-performing asset, pushing its market cap beyond $1.6 billion and delivering substantial returns to investors.

Raydium’s dominance on Solana has grown steadily throughout the year, particularly since March, as it consistently recorded higher daily volumes than its main competitor, Solana Orca. In Q3 of 2024, Raydium led Solana’s daily DEX volume for the first time, marking two consecutive quarters of dominance. According to industry reports, this success prompted a migration of users and liquidity to Solana-based DEXs like Raydium, solidifying its position as a top choice for traders.

Read More

• Next Big Crypto Breakout for 2024