Which Cryptos Are Primed for a Bullish Run in 2024?

The crypto market is buzzing with excitement, as new projects emerge and existing ones show impressive growth. Despite recent downturns, bullish trends are back, with meme coins leading the charge. Sui is primed for explosive growth in 2024, scaling the crypto landscape by enhancing usability in everyday transactions. This project aims to accelerate global adoption of cryptos, expanding blockchain technology applications. Despite growing use cases, many remain uninitiated in this emerging tech.

Which Cryptocurrencies Are Poised for Explosive Growth in 2024?

The cryptocurrency market has been abuzz with excitement lately, fueled by the surge of new projects and the impressive price actions of existing ones. While the market has recently experienced a downturn, the return of bullish trends has sparked a fresh wave of optimism, with meme coins leading the charge.

Sui (SUI): Scaling the Crypto Landscape

Sui has made significant strides in enhancing the usability of cryptocurrencies in everyday transactions. The project's primary objective is to accelerate the global adoption of crypto, believing it will expand the applications of blockchain technology. Despite the growing use cases for cryptocurrencies, a large portion of the world's population remains uninitiated in this emerging technology.

Given its strong fundamentals, Sui's vision and mission carry significant weight. The recent launch of Pilotfish technology, a groundbreaking autoscaling innovation, further solidifies Sui's commitment to its ultimate vision. Pilotfish is poised to enhance the throughput of the Sui network, potentially surpassing that of the Bitcoin blockchain. This improvement will likely drive increased adoption and, subsequently, an uptick in the price of SUI.

Smog (SMOG): Riding the Memecoin Wave

Smog has emerged as a top crypto gainer, boasting an impressive 30% price surge in the past 24 hours. Meme coins have regained their momentum as the market leaders following a week-long decline. Smog's arrival provided investors who missed out on previous crypto rallies an opportunity to participate in the ongoing surge. Since its inception, the token has generated significant returns, delivering over 500% growth in less than 30 days.

Current market data highlights Smog as a cryptocurrency to watch as the quarter draws to a close. The token has established support at $0.17 and is currently testing the upper trend line. Continued bullish activity is likely to propel Smog towards higher values. Additionally, the ongoing airdrop event has generated considerable attention, with the community claiming it will be the largest in the history of the Solana chain.

THORChain (RUNE): Poised for a Return to Growth

RUNE's recent recovery from a downtrend presents a short to medium-term hedging opportunity. The token experienced a surge earlier this month after the community voted to adjust its lending cap. This decision led to an influx of funds, driving the price of RUNE to a record high of over $10 in less than seven days.

However, the recent market downturn has forced RUNE to retrace its price, currently hovering around the $8.5 range. Technical analysis indicates that RUNE may be poised for an uptrend in the coming days. A 10% price increase in the past 24 hours has halted the protracted price decline of the past seven days.

Furthermore, the network's recent token burn could serve as a catalyst for RUNE's resurgence. While the burned tokens are no longer in circulation, they represent 12% of RUNE's total supply, which could positively impact its price in the long run.

Arbitrum (ARB): Recovering from a Major Price Dump

Arbitrum encountered a significant price drop following a token unlock earlier this month, losing over 30% of its value within seven days. The price declined from $2 to $1.4, but the trend has since reversed, with ARB trending upward in the last 24 hours. A 6% increase today suggests further gains are likely. ARB is poised to return to the $2 range before the end of the month.

Technical analysis indicates that a break above the $1.7 range would position the token for a move towards $2. Despite the recent token unlock, the market is overly bearish on ARB. However, the current price action presents an opportunity to buy the dip in anticipation of an uptrend. The RSI value of 40 suggests that ARB is undervalued and may soon experience an upward price retracement.

Investors can expect a further push towards higher values in the coming weeks as the RSI continues to decline. Additionally, the ARB network is actively expanding its use cases, particularly in the crypto gaming sector. The adoption of the platform in crypto gaming could capitalize on the growing GameFi narrative and drive demand for ARB.