How Can We Predict the Next Big Altcoins?

<p>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. </p><p>The
token is currently <a href="https://coinmarketcap.com/currencies/echelon-prime/" target="_blank" rel="follow">trading</a> 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. </p><p>Other
altcoins that have been gaining momentum include Wall Street Memes (WSM), which
just <a href="https://u.today/wall-street-memes-wsm-token-team-shares-impressive-pre-sale-results" target="_blank" rel="follow">wrapped up</a> 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. </p><p>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 <a href="https://insidebitcoins.com/buy-cryptocurrency/next-cryptocurrency-to-explode" target="_blank" rel="follow">next big thing projects in the crypto industry</a>.
</p><p>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.</p><p>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. </p><p>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.</p><p>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.</p><p>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. </p>

This article was written by FL Contributors at www.forexlive.com.