The altcoin market looks bullish as some coins try to bounce back

Investors need to stay alert during this consolidation phase, as it could be a chance to ride a rising trend. Institutional investors are now paying more attention to interoperability and tokenizing real-world assets.

The altcoin market is showing bullish signs as several coins attempt to rebound. Investors should remain vigilant during this consolidation phase, as it could present an opportunity to capitalize on an emerging uptrend.

Institutional investors are increasingly focusing on interoperability and tokenizing real-world assets, driving up the prices of these assets ahead of a potential market rally. The goal is to identify the next cryptocurrencies poised for a surge and inform investors and traders about each token.

Next Cryptocurrency To Explode

With the crypto market set to shift towards the altcoin and meme coin sectors in the coming months, making the most of the altcoin market could be crucial. Hence, investors might want to consider upcoming tokens like PlayDoge. PlayDoge is a new Doge meme coin that integrates play-to-earn technology to create a gaming economy with real, monetizable value. This post covers the details of its presale.

1. Convex Finance (CVX)

Convex Finance is a DeFi protocol that allows Curve liquidity providers to earn a portion of the trading fees on Curve without directly staking their liquidity there. LPs can stake with Convex and receive boosted CRV and liquidity mining rewards. This process offers CRV stakers better capital efficiency, as noted by the project team.

Over the past week, Convex Finance (CVX) has seen a 67.04% increase in price. Currently, CVX’s total market cap is around $377.96 million. The price surged by 63% over the last 24 hours, reaching $3.65 at 04:00 a.m. EST. Trading volume soared by 1,336% during this period to $177 million. The price rose further to $3.92 at press time, with trading volume increasing to $209.38 million.

According to GeckoTerminal data, Convex Finance’s price declined after reaching the $5 resistance zone in March, with bulls pulling back to the $2.12 support zone. The price has been oscillating within this range, with bulls and bears vying for control during this consolidation phase.

Currently, the CVX price is trading well above the 50-day and 200-day Simple Moving Averages (SMAs), breaking through resistance levels at $2.57 and $3.37, respectively. The Relative Strength Index (RSI) on the 1-day chart is around 71, indicating strong buying pressure.

How do you want your fees? I know we like $crvUSD. Make sure to vote on this proposal that transitions @CurveFinance DAO fees from 3crv –> crvUSD!https://t.co/rOsKL9r0lu

— Convex Finance (@ConvexFinance) June 12, 2024

The bulls have emerged victorious in the consolidation phase, pushing the token beyond the channel as they strive to maintain the upward momentum. Critical technical indicators suggest optimistic investors are capitalizing on this trend, with both the MACD and RSI indicating overbought conditions. 

Additionally, investors seeking diversification might consider $PLAY, a new Doge meme coin that integrates play-to-earn technology to create a gaming economy with real, monetizable value.

2. PlayDoge (PLAY) 

Even as the meme coin market sees a downturn, PlayDoge’s presale is performing well, having already reached its $4.4 million goal. Several factors have contributed to this strong start. One key reason is the anticipated rise in meme coin popularity, especially for doge-themed coins.

PlayDoge's unique combination of doge-themed memes and a play-to-earn (P2E) feature is its primary appeal. This project blends these two elements to offer real utility. Users can enjoy the PlayDoge P2E game while earning cryptocurrency.

Inspired by the popular Tamagotchi game from the 90s, PlayDoge adds a modern twist that rewards users financially. Players must care for their virtual pets and go on P2E adventures to earn crypto rewards.

PlayDoge offers more than just pet care; it includes nostalgic mini-games inspired by classic 8-bit 2D side-scrollers. Interacting with pets and playing these mini-games allows users to climb the leaderboard and earn $PLAY tokens. These tokens can be used both as in-game currency and as tradeable assets.

New High Score ✅

We've just blasted through $4.5M in the $PLAY #Presale! 🚀

Get your hands on some $PLAY at this price while you can. 🤩

The next price increase is coming very soon!⏳🔥

BUY NOW – Link in Bio!#PlayDoge #MemeCoin #P2E #BNB #ETH pic.twitter.com/2Xx72kB8kG

— PlayDoge (@PlayDogeGame) June