THE NEXT cryptocurrency boom could be about to take place as analysts predict "verge" is the latest coin.
Experts at Tradingview have tracked the movement of the verge market and have spotted similarities with that of ripple.
Once dubbed as ‘the next bitcoin’, ripple saw a surge in value as it increased by more than 1,000 per cent during December.
At the start of 2017, one Ripple token was worth just $0.006.
However, following a staggering increase in value in recent months, the cryptocurrency’s price has risen as high as of £2.83 ($3.83) in the opening weeks of 2018.
Verge experienced its first real increase in growth in December after its value rose by 800 per cent to over $0.32 just before Christmas but has since seen its value drop.
Created in 2014, verge was once known as DogeCoinDark before being rebranded.
It is believed that the value of the currency may soon reach higher than its resistance line and then see growth boom.
Ripple and the currency ethereal both saw their value rise substantially after breaking their resistance lines.
In markets, a resistance line represents an overwhelming amount of supply.
Once a currency breaks above the resistance line it means that the lack of supply will see the price soar.
Exactly how much the currency could increase if it passes the ‘golden breakout’ is currently unknown, but it is possible verge could grow as much as 160 or 260 per cent.