Next Cryptocurrency to Explode Friday 8 September – Wall Street Memes, Dash, XDC Network

On Sep 8, 2023

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The global market capitalization has experienced a notable upturn, reaching $1.06 trillion, marking a 1.32% increase in the last 24 hours. It is a welcome development seeing what transpired in the market on Thursday.

Over the past 24 hours, the overall trading volume in the cryptocurrency market has decreased by 4.19%, standing at $25.5 billion. The decentralized finance sector accounts for $2.36 billion within this volume, representing 9.24% of the total crypto market’s daily trading volume. Furthermore, stablecoins contribute significantly, with a volume of $23.96 billion, constituting 93.97% of the total cryptocurrency market’s 24-hour trading volume.

Bitcoin (BTC), the leading cryptocurrency, has seen an increase in its dominance over the cryptocurrency market. It currently holds a dominance of 48.58%, reflecting a rise of 0.40% in the past day.

Asian stock markets experienced declines on Friday, primarily driven by a drop in tech shares amidst escalating tensions between the United States and China. Simultaneously, the U.S. dollar was on track to achieve its lengthiest winning streak in nine years as investors prepared for higher U.S. interest rates in the foreseeable future.

In Europe, stock futures signaled a potential uptick in market openings. Futures for Eurostoxx 50 indicated a 0.21% increase, while those for the German DAX showed a 0.18% rise. Conversely, FTSE futures displayed a minor 0.07% decline.

Next Cryptocurrency to Explode

Investor attention was particularly focused on European Apple (AAPL.O) suppliers following the recent news of China restricting the use of iPhones by government employees. Apple had witnessed a sharp drop in its market capitalization, losing approximately $200 billion over two days. On Friday, concerns over protectionist measures were adding to the downward pressure on shares of Asian suppliers.

1. Wall Street Memes (WSM)

On May 26 this year, Wall Street Memes, renowned for its viral memes on platforms like Instagram and Twitter, unveiled its foray into the world of meme coins. The meme coin’s initial exchange offering (IEO) is scheduled for September 27, and the presale phase has already attracted over $25 million in funding.

How are they still flexing pic.twitter.com/QVDvM7dsfb
— Wall Street Memes (@wallstmemes) September 7, 2023

This venture into cryptocurrency isn’t the company’s first; in 2021, Wall Street Memes gained recognition with its NFT collection “Wall St Bulls,” which remarkably sold out within just thirty minutes. In 2023, the company furthered its NFT efforts by listing its Wall St Bulls Ordinals NFTs on Magic Eden.

The initial price for each $WSM token stood at $0.025 and has since climbed to $0.0337. The presale phase is expected to conclude in the upcoming weeks, with the IEO following shortly after that.

With a substantial social media following of one million followers, Wall Street Memes has garnered considerable support for its meme coin project.

The company has laid out a clear roadmap for its meme coin. The entire token supply will be distributed to the community, with half designated for the presale and the remaining split between liquidity and community rewards. Currently, 289 million tokens have been added to the staking pool, projecting an estimated annual percentage yield (APY) of 69%.

Notably, Elon Musk has engaged with Wall Street Memes on Twitter. However, it does not confirm anything, sparking speculation that WSM may be listed on major exchanges in the future, similar to other trending meme coins.

Visit Wall Street Memes.

2. XDC Network (XDC)

XDC Network, formerly XinFin Network, represents a blockchain platform that amalgamates the most advantageous attributes of public and private blockchains. Its primary objective is to facilitate efficient financial services using cutting-edge blockchain technology and robust infrastructure.

The network functions on a Delegated-Proof-of-Stake (XDPoS) consensus mechanism, delivering rapid transaction processing, interoperability, and heightened security capabilities. With a remarkable capacity of handling up to 2000 transactions per second (TPS), it also extends support for interoperable smart contracts. It seamlessly integrates with the Ethereum Virtual Machine (EVM), empowering users to expand their projects effectively.

The XDC Network enjoys strong backing from a diverse spectrum of participants, including digital wallets, decentralized applications, and cryptocurrency exchanges.

To reach a valuation of $10, XDC would need to experience a 333-fold increase. At this point, XDC’s Market Cap would stand at $138.44 Billion. Assuming a consistent growth rate of 25% annually, it would take approximately 8.6 years to achieve the $10 milestone.

Considering the precedent set by Bitcoin, which witnessed a remarkable 1,400-fold growth over a decade, it is conceivable for a cryptocurrency like XDC to achieve a 333-fold expansion within an 8 to 9-year timeframe. Hence, under favorable market conditions, a reasonable probability exists that XDC will reach the $10 mark within the specified period and become the next cryptocurrency to explode.

The token is currently up on Friday by 4.14%, according to CoinMarketCap.

3. Cronos (CRO)

The native token of the Cronos blockchain, Cronos (CRO), has observed a 3.01% price increase within the past 24 hours, reaching $0.0516. This places CRO among the top 50 cryptocurrencies by market capitalization, with a total market cap of $1.30 billion. This analysis delves into the essential metrics influencing CRO’s price dynamics and offers insights into its potential future movements.

Firstly, CRO’s trading volume over the last 24 hours is $1.12 million, indicating sustained interest in the cryptocurrency. There has been a minor 0.27% price dip in the past hour, likely a slight correction following the day’s gains. Zooming out to a broader perspective, CRO has experienced a 3.82% decline over the past week and a more substantial 13.54% drop in the past month. Over the last six months, the losses have been more pronounced, totaling 30.84%.

Examining CRO’s price chart reveals a prolonged downtrend since its all-time high of $0.96 in November 2021. However, focusing on the shorter-term 4-hour chart reveals the emergence of a potential reversal pattern. CRO has formed a double bottom around the $0.048 level, aligning with its 2022 lows. This double-bottom pattern and the recent breakout above $0.05 signal a strengthening bullish momentum.

A breakout beyond the $0.06 level soon would validate the initiation of a new bullish trend, likely propelling CRO towards its previous all-time high within the next 9-12 months.

4. Dash (DASH)

Like numerous other cryptocurrencies, DASH remains significantly influenced by market fluctuations and exhibits a high level of vulnerability. Experts’ opinions and price predictions concerning the future potential of DASH vary, rendering its growth trajectory notably unpredictable. Nevertheless, it cannot be entirely discounted that the price of DASH may exhibit consistent growth over time.

DASH is currently valued at approximately $26.32, indicating an opportune moment for investment, particularly for adept swing traders. To gain deeper insights into DASH’s price forecasts, it is advisable to delve into its historical performance.

One of DASH’s advantages lies in its extensive listing across many exchanges, enhancing its sustainability. The token has demonstrated a robust trading volume of $35.7 million in the past 24 hours. While many experts view it as a bullish asset, DASH garners evaluations from millions of individuals, positioning itself as a preferred digital asset choice.