The cryptocurrency market is expected to experience a relief rally, with memecoins continuing to achieve significant gains and standing out as a leading sector. Known for their hype and popularity, these community-focused altcoins draw attention with their potential for high returns. Important projects like PEPE, WIF, and BONK lead the way, but a few low market cap, undervalued memecoins also offer significant upside potential. Among these, SMIDGE stands out, with its recent price surge indicating a possible bull run. Additionally, the newly launched Ethereum Layer 2 solution BLAST is attracting attention with its immense potential on paper.
BLAST Makes a Big Impact with Its Launch
As a new market participant and an Ethereum Layer 2 solution, BLAST has managed to capture the attention of market participants in its early days. Unlike other Layer 2 solutions that offer zero percent interest, BLAST stands out with a high return rate, offering 3.4% for ETH staking and 8% for stablecoin staking. This unique selling point has garnered significant interest and contributed to its growing market cap, currently at $429.46 million.
Trading at $0.025 with a 20% increase in the last 24 hours, BLAST maintains its upward trend. As the market prepares for a recovery, a potential bull run in BLAST could push its price to $1.
Key catalysts to watch for a bullish scenario include the launch of spot Ethereum ETFs in the US and a potential bull run across the market.
New Memecoin SMIDGE Gains Attention
Meanwhile, a newly launched memecoin, SMIDGE, draws attention with comparisons to the popular PEPE. Despite the volatility and risks associated with new memecoins, SMIDGE shows promising signs with its recent performance. With a trading volume reaching millions of dollars, SMIDGE is currently priced at $0.0006787 and has seen a 164% increase in the last 24 hours. Limited price movement restricts comprehensive technical analysis, but increasing demand indicates a potential 500% rise in a single day.
Described as a smaller and cuter version of the high-performing PEPE, SMIDGE comes from the 5th generation of the frog kingdom. Its impressive nature and popularity on platforms like 4chan and Reddit contribute to its viral status. The recent price surge supports a bullish outlook, indicating that the altcoin could see significant gains in the coming weeks.
