Every other day in the crypto industry, there is one altcoin or the other that sees runaway success. Take PRIME, an Ethereum altcoin that has seen a 42% spike in value over the last week. PRIME is the native token of Echelon Prime, a Web3 gaming ecosystem that has seen a lot of traction recently.
The token is currently trading at $3.29, up from $2.98 only a few days ago. This sort of price movement is even more impressive when you consider the fact that more mainstream altcoins have suffered a slump in the same period.
Other altcoins that have been gaining momentum include Wall Street Memes (WSM), which just wrapped up a $25 million funding round. The community behind the token has been going strong since 2019, and it appears to be one of the more promising meme tokens. Its presale market price per token has been pegged at $0.0337 but given the hype around it, some analysts are predicting an 80x price movement once it is listed on platforms like Binance in September.
With such early success, it’s also been said that we might have the next Dogecoin on our hands. It’s also clear that there is no shortage of altcoins on the rise within the crypto industry and one of them could be in the crop of the next big thing projects in the crypto industry.
But how do we predict such a token? After all, crypto lovers are endlessly fascinated with which token might be the next big altcoin and having this information could give them an edge within the market. While no one can predict the future for sure, there are a few ways to identify promising altcoins.
One way is by constantly engaging with crypto communities. If you look at PRIME and WSM, you’ll notice that they are both backed up by very passionate communities. The people in these communities have been rallying around long before they made their debut and continue to do so.
So if we are looking for the next big altcoins, we first need to find the big communities and see what projects they are investing their time in. This is doubly so if, in WSM’s case, it has a co-sign from the likes of Elon Musk. A great way to find these communities is by simply going on social media sites like Twitter and Reddit. Engage with crypto topics and soon enough, you’ll begin to hear of the niche tokens that are promising but haven’t quite exploded yet.
We also need to consider the use cases behind the tokens. PRIME, for example, is tied to a Web3 gaming project, which is all the rage these days. Market hype and community can take a token far, but it is its use case that can help it maintain a presence in the industry.
Believe it or not, the crypto industry has several other tokens in the same vein as Prime and WSM and with a bit of luck, you just might find them.
