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The overall feeling in the market has been positive since the close of October. This month, Bitcoin (BTC) finally rose above its all-time high and surpassed the 100K mark, even though it eventually fell to $95K as of today. Meanwhile, many investors have already made plenty of gains from the November/December bull run.
Determining the next cryptocurrency to explode might be challenging as most funds are attracted to pumping assets. However, this article will explore the performance of cryptocurrencies with much growth potential, especially before the year runs out. The aim is to identify coins with some potential and help investors and traders make informed decisions 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 the presale token, Solaxy. This new meme coin offers a unique blend of these two dynamics by combining meme coins’ excitement and reward potential with the practical utility of a Layer 2 blockchain solution.
1. Movement (MOVE)
The $MOVE token has been turning heads with its impressive performance. Since its debut on December 9, MOVE has maintained a strong bullish trend. Over the past 24 hours, it recorded a 9.18% gain, bringing its weekly growth to an outstanding 53.76%. Today, MOVE is priced at $1.15, teetering on the edge of a significant breakout from a classic cup-and-handle pattern. This bullish formation often signals further growth.
On December 20, MOVE stood out as the top gainer among the 100 largest cryptocurrencies, hitting an intraday high of $0.877 and closing with a market cap of nearly $2 billion. This surge was accompanied by a 63% increase in daily trading volume, which surpassed $1.6 billion, highlighting growing interest from traders. Moreover, open interest in MOVE’s futures market skyrocketed to an all-time high of $103.93 million, more than double the previous day’s figure of $56.03 million, according to CoinGlass data.
MOVE’s rapid ascent is primarily attributed to its partnership with BitGo, a leading digital asset custody and security provider. This collaboration will introduce WBTC (Wrapped Bitcoin) to Movement’s mainnet, expanding its DeFi ecosystem. With WBTC integration, Movement aims to offer more options for asset utilization, liquidity provision, and engagement in decentralized finance services.
Our grants program is live!
The Movement Network Foundation Grants & Request for Motion proposals are open — empowering builders, developers, and creators in the Move ecosystem.
Ready to shape infra, apps, and NFTs? Apply now to join!https://t.co/vpeAAkbIPi
— Movement Network Foundation (@movementfdn) December 23, 2024
Additionally, Movement’s mainnet launch two weeks ago has played a key role in its momentum. As an Ethereum layer-2 network powered by MoveVM, Movement distributed a portion of MOVE tokens to early adopters and community members, further fueling interest.
While MOVE’s setup looks promising, traders should still be cautious. A failed breakout at its current resistance could trigger a short-term pullback, potentially finding support around $0.83. However, if MOVE successfully breaks through, it could continue its impressive upward trend.
2. CoW Protocol (COW)
CoW Protocol continues to shine in the decentralized finance (DeFi) space despite a modest 2.59% dip in the past 24 hours. However, its weekly and monthly performance reveals a promising trend, reflecting strong growth and optimism. Known for its innovative trading model, CoW Protocol uses batch auctions and peer-to-peer mechanisms to optimize transactions. This approach minimizes gas fees and ensures better prices through its unique Coincidence of Wants (CoWs) feature, distinguishing it from traditional DEX aggregators.
Currently priced at $1.14, CoW has achieved an impressive 67.01% weekly gain and an astonishing 208.00% increase over the past month. Its strong liquidity, with a 2.1107 volume-to-market cap ratio and a trading position 813.72% above its 200-day SMA, underscore its robust market performance. Over the past year, the token has surged by 522%, outperforming 92% of the top 100 crypto assets. Moreover, its 66.37 RSI suggests balanced market sentiment, leaving room for steady growth.
CoW Protocol’s recent expansion to Base, Ethereum’s fastest-growing Layer 2 network, adds to its momentum. By introducing advanced order types, gasless swaps, and MEV protection, CoW Swap is enhancing the trading experience for Base users. To celebrate this milestone, the protocol launched a 10,000 COW token giveaway for Base traders, sparking excitement and boosting activity among DeFi enthusiasts.
This combination of cutting-edge features and strategic growth initiatives has undoubtedly contributed to CoW Protocol’s recent success.
3. Solaxy (SOLX)
Meme coins are known for their high-risk, high-reward nature. They often gain value during bull markets driven by emotional buyers. Meanwhile, utility tokens focus on delivering long-term value through their functionality and the projects they support. Solaxy (SOLX) offers a unique blend of these two dynamics. By combining meme coins’ excitement and reward potential with the practical utility of a Layer 2 blockchain solution, Solaxy taps into Solana’s scalability and provides attractive staking rewards.
The ongoing Solaxy presale has been capturing significant attention, with daily net inflows between $400,000 and $500,000. The presale is just a few hundred thousand dollars from its $6 million milestone.
This momentum highlights growing investor confidence in the token’s potential. If the $6 million target is reached within the next 1 day, the presale is expected to accelerate further. Each $SOLX token is priced at $0.00158, with slight price increases anticipated as funding goals are achieved.
Moreover, this growing visibility positions Solaxy as a promising project, reminiscent of successful Layer 2 tokens like Pepe Unchained. If Solaxy follows a similar trajectory, investors could see gains of up to 7x within the first two days post-launch. Meanwhile, the team has confirmed plans to list $SOLX on major exchanges after the presale.
Purchasing Solaxy tokens is straightforward, as they are available via ETH, BNB, or SOL. Buyers can also use a card or the Upcoming Tokens feature in Best Wallet for convenience. For a step-by-step guide on acquiring Solaxy tokens, click here.
4. Pudgy Penguins (PENGU)
The PENGU token has made waves in the cryptocurrency market, showcasing its potential to deepen the connection between the Pudgy Penguins brand and its global fanbase. Initially launched on Solana, the token plans to expand its utility by enabling compatibility with Ethereum and Igloo’s Ethereum Layer 2 Abstract Chain in future updates, enhancing its cross-chain functionality.
In the past 24 hours, $PENGU has risen by 3.5%, adding to an impressive 30% gain over the past week and a staggering 681.47% growth this month. This surge has been driven by significant developments, including a central exchange listing and notable whale accumulation.
The token’s price spike followed Bithumb’s announcement, South Korea’s second-largest cryptocurrency exchange, to list the PENGU/KRW trading pair. Trading began on December 24, 2024, at 5:00 PM KST, marking a significant milestone for Pudgy Penguins. The listing has boosted liquidity and attracted more traders, further fueling the token’s upward momentum.
$PENGU is now live on Bithumb! https://t.co/5BUfgPXJCW pic.twitter.com/mB4BGo2b6P
— Pudgy Penguins (@pudgypenguins) December 24, 2024
Within 24 hours, $PENGU achieved a major breakout, surpassing its previous resistance level at $0.03026 and climbing to its current price of $0.03907. The token now sits in a resistance zone between $0.03026 and $0.03984. If it manages to break through, it could aim for the next resistance levels at $0.042 and $0.0472, representing a potential 21% gain from its current price.
5. aixbt by Virtuals (AIXBT)
AIXBT is gaining popularity for its ability to deliver actionable insights. AIXBT equips token holders with a strategic edge in the fast-moving crypto world by automating the tracking and interpretation of market trends. Moreover, integrating various data sources ensures users receive well-rounded and informed analyses, highlighting its commitment to comprehensive market intelligence.
In the last 24 hours, the token recorded a 4.67% gain, contributing to an impressive 26.00% weekly increase and a staggering 331.34% rise over the past month. Currently priced at $0.3478, the token’s upward trajectory reflects growing interest and confidence in its utility.
This growth is closely tied to the Virtuals Protocol, which leverages AI agents as revenue-generating assets in sectors like gaming and entertainment. By enabling decentralized co-ownership of these agents, AIXBT offers unique functionality within virtual economies, positioning itself as a forward-thinking player in the crypto space.
The bullish sentiment surrounding AIXBT is also supported by the Virtuals Protocol’s success in overcoming challenges related to AI integration into consumer applications. Its plug-and-play model simplifies adoption, making it more appealing to a broader audience. As AI continues to gain traction in virtual economies, AIXBT is carving out a niche as a promising investment opportunity.
Adding to its appeal, AIXBT demonstrates strong liquidity with a market cap-to-volume ratio of 0.5605. Furthermore, the Fear & Greed Index is at 79, reflecting strong optimism in the market. With its innovative approach and rising momentum, AIXBT stands out as a token worth watching in the evolving crypto landscape.
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