Next Cryptocurrency To Explode: 5 Altcoins To Watch in November 2024

The overall feeling in the market is beginning to look positive. Recently, Bitcoin (BTC) finally rose above $70K but wasn’t able to stay above

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The overall market sentiment is beginning to look positive. Recently, Bitcoin (BTC) finally rose above the $70K mark but was unable to sustain itself above that price for long. Meanwhile, Ethereum (ETH) is striving to stay above the $2,500 level once more as investors still anticipate the next 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 that have a lot of growth potential, especially during the Uptober bull run. 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 Memebet Token. This new Telegram-based betting platform allows users to bet using meme coins for the first time, generating excitement among crypto enthusiasts. The details of its presale and the performance of the top-performing cryptos today are shared below.

1. Gigachad (GIGA)

Gigachad, a meme coin built on Solana, has gained significant traction due to endorsements from popular figures like Ernest Khalimov, the face behind the Gigachad meme, and bodybuilder Mike O’Hearn. Backed by these endorsements, GIGA has shown resilience in today’s bearish market. Its price is up by over 7.40% in the last 24 hours, boosting its market cap to $504.82 million.

The price of Gigachad has been trending upward, with higher highs and lower lows observed in September and October. According to GeckoTerminal, GIGA is consolidating near its recent highs, with bullish momentum pushing it above the $0.0510 resistance level. This recent movement hints at a possible ascending triangle pattern, suggesting further potential growth.

Gigachad’s price is currently trading above both its 50-day and 200-day Simple Moving Averages (SMAs), supporting a positive outlook. Its Relative Strength Index (RSI) is at 60.56, which places it in a neutral-to-bullish zone, suggesting there is still room for growth before it reaches overbought conditions.

Gigachad has gained momentum, partly due to its strong ties to the fitness world through its sports brand, Giga Fitness. However, as with many meme coins, its performance relies heavily on social media interest. While GIGA presents short-term profit opportunities, its long-term success will depend on maintaining community interest and offering value beyond celebrity endorsements.

With an active community and increasing interest from larger investors, GIGA is carving out its place in the competitive meme coin space, hinting at the potential for future growth.

2. Raydium (RAY)

On Monday, October 28, Raydium (RAY) crossed the $3.45 mark, showing a 16.8% increase in 24 hours. This rise was part of a broader trend among Solana-based decentralized exchange tokens, including Jupiter (JUP) and Aerodrome Finance (AERO), which helped Solana surpass Ethereum in daily transaction fees.

Throughout the past month, RAY prices gained 79.87%, moving from $2.24 to $3.48. This boost followed Kraken Pro’s addition of RAY futures trading on October 25, which expanded trading options for the Solana-based token. An October 23 upgrade also improved Raydium’s liquidity and swap speeds, increasing transaction volumes.

Currently, Raydium is the third-largest decentralized exchange by daily trading volume. Its price surge has positioned it among the top five DeFi protocols on Solana. According to DeFiLlama, Raydium now ranks fifth in total value locked (TVL) on Solana, which has risen by 29.31% over the past month, reaching $2.62 million.

Further analysis of Raydium indicates a bullish trend, suggesting it may rally beyond the $3.40 level, as it has stable support above the $2.00 mark. The technical indicators for Raydium point toward continued upward movement, with no signs of immediate reversal. Its 50-day, 100-day, and 200-day simple moving averages (SMA) are all trending upward, highlighting its strong position in the market.

3. Memebet Token (MEMEBET)

Memebet Token ($MEMEBET) is gaining strong momentum, having raised over $550,000 in its presale. This unique project is the first to combine meme coins with Web3 gaming, using them as betting currency in its Telegram-based casino. It has quickly become a favorite among dedicated fans, giving them a chance to see