Next Crypto to Explode in 2024: What is the Next Cryptocurrency to Boom

In the fight against the volatility and unpredictability of the cryptocurrency market, newcomers and not only tend to look for new crypto coins with lower market capitalization and price per unit token, aiming for higher growth potential. Of course, such a strategy can be advantageous, but do not hope that there will be no losses in this case, because it is not a fact that each new cryptocurrency asset will be successful in the medium and long term.

But then what is the next cryptocurrency to boom this year? What causes cryptocurrency price explosions and what do they mean for the crypto industry and investors? In this article, we'll look at some possible factors and answer all the questions.

What Causes a Cryptocurrency to Explode in Price?

Interesting question. Since the cryptocurrency market is known for its volatility and unpredictability, the prices of cryptos in it often undergo changes. Such changes can be so big that they are called cryptocurrency price explosions, when the value of a crypto asset increases or decreases several times over a short period of time. And there are a few different factors that affect price changes in cryptos that could explode:

• Demand and Supply: Basically, the price of cryptocurrencies is determined depending on their availability and popularity. For example, the demand and interest in Bitcoin in 2017 sharply increased. And as a result, the price of the coin began to grow rapidly and rose from $1 thousand to $20 thousand in just one year. The same can happen with other cryptocurrencies: limited supply combined with increased demand helps determine what crypto will explode next, increasing its prices many times over. On the other hand, excess supply and decreased demand can lead to lower prices.

• Technological Factors: Also, cryptocurrency rate hikes often occur after the disclosure of important information about the development of a project. Improvements, updates to the blockchain network, or information about entering into a partnership, obtaining funding, launching a token's main network, adding a token to a new exchange, and so on - all of this combined could affect investor confidence and, as a result, the identification of the cryptocurrency that will explode.

• Speculation and Manipulation: News and social media events influence market sentiment and may reveal next crypto to explode. For example, as we learned in a previous article on our blog, in 2019, American engineer and entrepreneur Elon Musk began actively publishing posts related to the DOGE project on his Twitter page, which helped Dogecoin's price rise to record highs in a few months and uncover the next meme coin to explode. Also, due to the relatively unregulated nature of some cryptocurrency markets, we should not forget about cases of market manipulation, which can lead to artificial price movements and significant price changes.

• Regulatory Changes: Government regulations and policies also affect the next cryptos to explode. Global improvements in macroeconomic parameters and positive regulatory changes in specific countries can increase confidence and attract investors, while negative news on the contrary can lead to price fluctuations.

What's the New Crypto Coins to Invest In?

Given the factors described above, many cryptocurrency users are betting on the following new tokens:

• Bitcoin Minetrix: It is often attributed to the category of "the next alt coin to explode". The project is attractive because it has developed an Ethereum-based BTC mining solution. Holders locking BTCMTX into staking to participate in Bitcoin mining can earn not only APY, but also get ERC-20 standard cryptocurrency. The new concept for affordable mining could really make BTCMTX the next cryptocurrency to explode.

• Meme Kombat: As the gaming space grows in popularity, so does this project as it offers a solution that combines blockchain technology and game mechanics driven by AI. The Meme Kombat platform is designed for meme character battles with the possibility of earning cryptocurrency for viewers through betting or staking. Such an unusual concept could be the key to Meme Kombat becoming the next big crypto coin.

• SPONGE V2: This token is often listed as one of the best new crypto coins to invest in. In 2024, the developers announced SPONGE V2 as an updated version of the original SPONGE, whose market capitalization went from $1 million to $100 million in a period of less than a year. The insane increase in market value in such a timeframe leads many to believe that the new token will be the next big cryptocurrency.

Which Cryptocurrency Will Boom and What's the Next Big Crypto Coin to Buy?

Of course, many are betting on new crypto coins coming out. But we should not forget about the time-tested players - big cryptocurrencies like Bitcoin, Efereum and others. Making predictions on them is unfortunately not in our competence, but we can share other no less interesting information.

• Bitcoin: According to data the price of Bitcoin has increased significantly in the previous months. When its price was around $27k in the middle of October of 2023, by February 2024 it reached a high of $50k. In the opinion of many, this is not the limit. With favorable regulation in the U.S. and other countries and under the influence of various factors, the coin may continue to rise in price and even surpass the maximum of 2021 at $69 thousand.

Yes, of course BTC is not the cheapest cryptocurrency that will explode, but despite this many people continue to invest in it, in anticipation of an even greater rise in value after the Bitcoin halving. What is halving, when will it happen and will it affect the growth of the BTC exchange rate? Find out by following this link.

• Solana: This is one of those tokens that are considered for a long-term perspective, as the project survived the collapse of the FTX exchange and proved its viability more than once. Such a rapid recovery, introduction of innovative solutions, rapid increase in turnover speak about the demand for the coin and a positve forecast for its price.

• AI tokens: There is also a growing number of specialists favoring AI-related tokens. In the portfolios of many today there are tokens of decentralized projects Render (RNDR), Chainlink (LINK) and so on.

This concludes our article about the crypto that will explode this year. If you are also interested in what coins are worth investing in during 2024, feel free to skip to our previous article. And don't forget to share your predictions about the next big crypto in the comments!