Since Bitcoin slumped to a price below $70,000, top altcoins like Polkadot (DOT) have depreciated, raising doubts regarding their bullish prospects. However, an upcoming meme coin known as Raboo (RABT) seems unmoved by the dip in the dominant cryptocurrency; instead, it is keeping its pace in presale and expanding its horizon across the meme sector with its AI and Social-Fi ecosystem.
Interestingly, the presale coin is said to be currently outperforming big meme players like PEPE, and as a result, investors tip it to become one of the best cryptocurrency investments this year.
DOT tumbles below support level, can it decline further to $4.88?
Polkadot (DOT) has been experiencing a bearish trend, as displayed in the charts where DOT fell below a critical support level of $5.54. Interestingly, the DOT token decline was believed to have occurred just after Bitcoin plunged to $64,700 a few days ago.
With Polkadot trading below the $5.66 level at the time of writing, experts believe significant liquidations and bearish selling pressure could follow, potentially driving the price further downward to $4.88. However, the fact that Bitcoin remains above the $65,000 level suggests DOT might only be experiencing a minor correction.
Nevertheless, should Bitcoin drop to $60,000, DOT may drop significantly below $4.88, but a surge in BTC to $67,000 could potentially drive Polkadot back up to $6.23.
PEPE price dips after resistance test, but whales signal potential rebound
PEPE, despite being a top performer in the meme sector, with about $4.8 billion market capitalization, experienced a significant drop after retesting a significant resistance level at $0.00001240. At the time of writing this piece, PEPE hovered around $0.00001107, a support zone which previously used to be a resistance zone. The transition of this level to a support zone implies that PEPE still has the potential to recover.
PEPE’s potential to rebound became more likely when an analysis with Santiment’s data revealed that whales have significantly increased their PEPE holdings. As the whale transaction count for PEPE has increased, many investors believe that PEPE will overturn its downtrend soon and embark on a bullish trend.
PEPE rival emerges? Raboo presale skyrockets on strong tokenomics and community focus
Raboo has emerged as a notable player in the meme sector, particularly exciting investors with its approach and potential for substantial growth. Since its presale, Raboo’s price has impressively increased by 60%, with expectations of a 100x surge upon its launch. This performance highlights its potential to become a major contender in the meme coin market as a top altcoins alongside PEPE.
One of key factors behind Raboo’s success in the presale stage have been its strategic tokenomics, community-driven governance, and the team’s unwavering commitment to innovation. Moreover, the platform aims to integrate a deflationary token burn mechanism and attractive staking rewards, to both ensure a long-term stability to incentivize its growing community to actively participate in the project and believe the growth potential.
Currently priced at $0.0048 in Stage 4 of its presale, Raboo is positioning every meme enthusiast interested in buying its presale coin to witness the next big rally in the $62 billion meme market.
Conclusion
The cryptocurrency market is facing a complex dynamic as top altcoins like Polkadot struggle amid the broader downturn, while the new meme coin, Raboo, is rapidly gaining traction. As Polkadot’s price fell below critical support levels, potentially heading towards $4.88, the performance of meme coins like PEPE and Raboo suggest that the meme sector may be emerging as a source of resilience and opportunity in the current market.
However, investors are closely watching Raboo’s progress, as its strategic tokenomics and community focus have the capability to propel it to outperform even established meme coins like PEPE.
You can participate in the Raboo presale here:
Telegram: https://t.me/RabootokenPortal
Twitter: https://twitter.com/Raboo_Official
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