Top 5 Next Cryptocurrencies to Explode in 2023 – SafePal (SFP), Saga (SAGA), Shiba Shootout (SHIBASHOOT), Gravity (G), and VGX Token (VGX)

Many altcoins are trying to make a comeback as they record significant gains. Meanwhile, Bitcoin (BTC) has fallen below $60,000 and is still hoping to find

Many altcoins are attempting to make a comeback as they record significant gains. Meanwhile, Bitcoin (BTC) has fallen below $60,000 and is still hoping to find support for its next big move. Investors need to stay alert during this consolidation phase as it could be a chance to catch a ride on a rising trend.

Prices of these various assets are climbing, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token.

Next Cryptocurrency To Explode

Smart investors are moving to capitalize on the boom in the altcoin market and taking positions in upcoming tokens like the Shiba Shootout. The project features a unique Wild West design, combining this popular period from American history with the crypto frontier. This post covers the details of its presale.

1. SafePal (SFP)

SafePal has recently rolled out significant updates to enhance its platform, including integrating with MultiversX (EGLD). This allows users to securely manage and trade EGLD through SafePal’s browser extension, mobile app, and hardware wallets. Additionally, a new collaboration with Kryptos simplifies cryptocurrency tax calculations and portfolio management. It supports over 2,000 DeFi protocols and more than 100 exchanges and wallets. These updates highlight SafePal’s commitment to improving user experience and security while addressing the complexities of crypto tax reporting.

Launched in 2018, SafePal transforms how users protect and grow digital assets with innovative wallet solutions. The platform offers both hardware and software wallets, all managed through the SafePal App. Notably, SafePal was the first hardware wallet to receive investment from Binance, further establishing its credibility.

Stay up to date with the latest Crypto News provided by our partners @SoSoValueCrypto pic.twitter.com/EWof2us5Ry

— SafePal – Crypto Wallet (@iSafePal) August 12, 2024

SafePal supports various popular cryptocurrencies and tokens on Ethereum, Binance Smart Chain, and TRON blockchains. The platform’s native token, SFP, plays a central role in its ecosystem by offering discounts, incentivizing users, and enabling governance through proposals and votes on new features.

SFP is priced at $0.8019, reflecting a 3.80% increase in the last 24 hours. The token shows high liquidity, with a volume-to-market cap ratio of 0.0568. A 14-day RSI of 56.59 suggests a neutral market stance, possibly leading to sideways movement. Over the past month, SFP experienced 15 bullish days, with a 30-day volatility of just 2.60%. Additionally, trading 37.62% above its 200-day SMA of $0.583112, SafePal has appreciated 75% over the past year, outpacing 67% of the top 100 crypto assets.

2. Saga (SAGA)

Saga (SAGA) experienced a price surge of 20% today, reaching $1.61. SAGA’s total market capitalization is $160 million at the time of writing. This increase follows an announcement made by the Saga team on August 12 through X, where they introduced the Liquidity Integration Layer (LIL). This innovative solution aims to address the issue of liquidity fragmentation in the blockchain space. The team pointed out that the rise of various chains, L2s, and rollups has led to this fragmentation, which has created complexity and a poor user experience. Saga aims to change that.

Saga’s L1 protocol provides infinite horizontal scalability through chainlets. However, the team clarified that this scalability no longer leads to liquidity fragmentation. Developers can easily request chainlets, but the decentralized nature of these chainlets has traditionally resulted in fragmented liquidity. LIL offers an integrated architecture that introduces automatic composability to Saga’s ecosystem. This connects chainlets seamlessly, providing instant access to tokens, services, and applications within and beyond the ecosystem.

Today we are introducing Saga's Liquidity Integration Layer (LIL) – a groundbreaking solution to tackle liquidity fragmentation in the blockchain space. Here's what you need to know: 🧵👇https://t.co/hH22YXcrc6 pic.twitter.com/A62ikbIAQv

— Saga ⛋ (@Sagaxyz__) August 12, 2024

Saga’s price increase followed a recovery from its monthly lows, forming a double-bottom pattern. This pattern suggests the possibility of a bullish reversal if the price moves above the pattern’s neckline.

By applying the Fibonacci retracement from the recent swing high of $1.82 to the swing low of $0.86