Next Cryptocurrency to Explode, November 7 — Raydium, Starknet, EigenLayer

The altcoin market looks promising, and many altcoins are recording gains. Bitcoin (BTC) is still struggling to stay above its all-time high of $73K as it hovers around 74K. However, the market looks bullish, so investors and analysts are optimistic. 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 various altcoins are already showing positive movements, even before the market takes off entirely. Today’s article will identify the next cryptocurrencies to explode and inform investors and traders about each token.

Next Cryptocurrency To Explode

Savvy investors anticipate a boom in the altcoin market and taking positions in upcoming tokens like the Crypto All-Stars. The project aims to revolutionize the meme coin space with its groundbreaking MemeVault Ecosystem. This post covers the details of its presale.

1. Raydium (RAY)

On Thursday, November 7, Raydium (RAY) crossed the $5 mark after a 27% increase in 24 hours. Several other altcoins, including Starknet and EigenLayer, surged as the crypto market opened. Raydium’s price gained 51% over the past week, climbing from $3.213 to $5.05.

Several factors contributed to this rise in RAY’s value. One major factor was Kraken Pro’s addition of RAY futures trading on October 25, which increased its trading options. The platform’s October 23 upgrade improved liquidity and swap speeds, boosting transaction volume.

Raydium is now the third-highest decentralized exchange (DEX) by daily trading volume. This price surge has also placed Raydium among Solana’s top five DeFi protocols. According to DeFiLlama, Raydium is now fifth in total value locked (TVL), which jumped over 30% in the past month, pushing it above $1.50 billion.

Raydium’s price chart shows a promising candlestick pattern, indicating strong buying activity with only minor pullbacks. This aligns well with the overall bullish sentiment traders currently have for RAY. Unlike many assets that merely survive market dips, Raydium stands out with high trading volumes and rapid price shifts, highlighting its leadership in the fast-paced crypto space.

Additionally, growing institutional interest in Solana could positively impact Raydium. With more institutional involvement, Raydium’s market share may grow, potentially boosting its token value. The technical indicators also remain supportive. The alignment of short- and long-term moving averages suggests ongoing buying pressure, and the current momentum shows little sign of slowing down.

2. Starknet (STRK)

Starknet (STRK) has seen steady growth over the past month, rising by 4.06% to reach $0.4095 at the time of writing. This includes a weekly gain of 7.14% and a 24-hour increase of 7.98%, reflecting a strong upward trend. Additionally, the RSI and Stochastic indicators, at 44.57 and 46.16, show that Starknet is neither overbought nor oversold, signaling stable trading activity.

Starknet, a zero-knowledge rollup network, has set a new benchmark for transaction speed and efficiency among Ethereum layer-2 networks. A week ago, it broke the transactions per second (TPS) record by reaching 127.5 TPS in a single day, surpassing Coinbase’s Base, which previously held the record at 79.92 TPS. This milestone was achieved during a gaming simulation that tested Starknet’s ability to handle high transaction volumes, highlighting its potential for scalability in high-demand scenarios.

If STRK gains bullish momentum but encounters resistance at the 20-day EMA on the daily chart, sellers might break support, potentially pushing the price lower. However, if demand stays strong, it could rebound from this level.

STRK’s price prediction sentiment is bullish, with a Fear & Greed Index 69 indicating a “Greed” level. This reflects increased transactions and signals growing optimism for an uptrend. If the broader crypto market maintains its bullish trend, the STRK token’s average price could reach $1.19 by 2024.

3. Crypto All-Stars (STARS)

The Crypto All-Stars project is making waves in the meme coin space with its unique MemeVault protocol. This platform enables holders of different meme coins to stake their tokens in one unified system, allowing for multi-token and multi-chain staking options. With the presale raising over $3 million in a few weeks, it’s clear that interest in the project is strong.

 

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One of Crypto All-Stars’s standout aspects is its attractive staking rewards, offering potential APYs of up to 505%. This high yield appeals to early investors and motivates participation in the staking ecosystem. The project has gained attention from top crypto influencers and continues to build a large community, with over 16,500 followers on Twitter and 2,500 members on Telegram.

Crypto All-Stars brings popular meme tokens together under one platform, allowing users to stake well-known coins like Dogecoin and Shiba Inu. By consolidating these assets, Crypto All-Stars offers a smoother experience for meme coin holders and aims to reduce the fragmentation currently seen in the meme coin space. The MemeVault is designed to make staking more engaging and accessible.

The Crypto All-Stars presale is an exciting opportunity for those interested in its innovative staking model and community-driven approach. With high staking rewards and dedicated anonymous leadership, the project aims for long-term sustainability. Investors can purchase tokens at the presale price of $0.0015494 before the price goes up in less than two days.

Buy STARS Tokens Now

4. EigenLayer (EIGEN)

EigenLayer (EIGEN) has recently shown a strong recovery as investors took advantage of momentum after last month’s airdrop. The token hit a high of $3.86, its best level since early October, following an announcement from the founder about a renewed focus on Web3 applications. This shift has fueled optimism, with EIGEN’s price climbing 12.85% in the past 24 hours, signaling continued interest in its future growth.

Despite a recent hack that lost over 1.6 million tokens (worth around $6.8 million), the recovery has been steady. Developers have outlined plans to gradually release 67 million tokens (4% of the initial supply) over the next year. A portion of these tokens will be distributed each Tuesday, with 3% allocated to Ethereum and liquid staking token stakers and 1% designated for EIGEN stakers and operators.

Meanwhile, EigenLayer recently introduced new restaking options for Bitcoin and Ethereum holders to increase earning potential through wrapped Bitcoin. This feature allows users to earn higher returns by staking their assets again on the platform.

On November 4th, EigenLayer also announced a boost in returns for wrapped Bitcoin investments. As part of this update, P2P.org, a major validator on the network, is now making payments to users. This added option lets BTC and ETH holders stake their assets for a second round, creating more income opportunities on the platform.

5. Moo Deng (moodengsol.com) (MOODENG)

Moo Deng is a Solana-based meme coin inspired by a popular pygmy hippo from a Thai zoo that recently gained strong crypto attention. Its price has jumped by 28.56% in the past 24 hours, now trading at $0.2393, while trading volume surged by 37.42% to $145.01 million. This growth shows the community’s growing interest in this unique token.

On October 25, 2024, Binance added Moo Deng to its Futures platform, introducing the MOODENGUSDT Perpetual Contract with up to 75x leverage. Binance highlighted this launch as an expansion of trading options to enhance user experience. Since this listing, Moo Deng’s price has risen over 215%, pushing its market cap up by 28.56% in just one day to nearly $237 million. This rise reflects its unique backstory and the enthusiastic response from the crypto community.

MOODENG’s technical indicators are signaling potential growth. The MACD shows a bullish crossover, with the MACD line above the signal line and a positive histogram indicating strong upward momentum. Moreover, the RSI is 58.29, in a neutral zone, suggesting the price isn’t overbought or oversold. This balance leaves room for possible gains without immediate risk of hitting overbought levels.

Regarding price movement, if MOODENG breaks above the $0.466 resistance, it could climb toward $0.500 or higher. However, if it fails to hold and drops below $0.1707 (its 50-day moving average), it may test the support level at $0.09041. A drop below this support could signal a bearish shift. While the indicators lean toward an upside, these resistance and support levels will likely shape the next big price move.

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