The cryptocurrency market continues to be a fascinating scene with contrasting forces at play. At the forefront, Bitcoin (BTC) is on the verge of a potential breakout as it confronts the crucial resistance range of $71,000 to $72,000. However, top altcoin Shiba Inu (SHIB) is facing market volatility as it experiences price swings. Amidst these developments, a newcomer– KangaMoon (KANG) has generated substantial excitement with its groundbreaking Play-to-Earn models and remarkable achievements during its ongoing token presale. As a result, KangaMoon is climbing up the rank among top cryptos to invest in 2024.
Bitcoin (BTC) Surges Past $70,000 Amid Declining Whale Activity
Crypto analyst Michael van de Poppe’s predictions about Bitcoin (BTC) facing a crucial resistance between $71,000 and $72,000 are being put to the test, as the legacy cryptocurrency surged past the $71,000 mark over the week . Currently, BTC is trading within a weekly price range of $67,000 and $70,000, and a market cap closer to the $1.4 trillion level.
Coincidentally, this price gain happened while whales were getting less active. The question, however, remains whether Bitcoin price can break through the $72,000 resistance level and achieve another ATH before the next halving. The ability to hold the $70,000-$72,000 level for a second time will be crucial in determining Bitcoin’s future trajectory.
Shiba Inu (SHIB): Volatile Swing Cloud Long-Term Potential
The native currency, Shiba Inu, has seen a lot of fluctuation in the last few weeks, registering a significant 18% and 0.18% decline over the past month and week respectively. On the other hand, if we consider SHIB as a longer-term investment, this digital currency has achieved an incredible 300% growth in the last six months.
At the moment, the native SHIB token is currently trading at a weekly range between $0.00002746 and $0.00002737, with a rather sideways trend as opposed to an upward trend. At this pace, analysts suggest that the current level of support of $0.00002638 could function as a kind of buffer while the market dwells in volatility. Moreso, considering positive sentiment and favourable market conditions, it is speculated that SHIB price trajectory may overcome the next potential obstacle at $0.00003337 and rise even higher.
KangaMoon (KANG): Meme Coin with P2E Innovation Soars in Presale
KangaMoon (KANG) is a new meme coin project that is out to disrupt the meme coin market with the introduction of a unique Play-to-Earn (P2E) gaming model that incorporates SocialFi elements. Within its interactive ecosystem dubbed “Kangaverse”, players can customize unique in-game characters, participate in battle contests, and earn rewards in the form of KANG tokens and valuable in-game collectibles.
These collectibles can then be traded on a dedicated marketplace, in exchange for real-world value. This innovative approach has fostered a rapidly growing community, attracting over 20,000 members, including over 6,000 token holders.
Beyond community building, KangaMoon’s ongoing token presale has been a huge success, raising over $4.7M in funding revenue and is on track to hit $6 million by the end of April. The project also encourages involvement of the community by rewarding active community members with free tokens before launch simply by engaging in promotional social media posts.
While KANG token’s current price of $0.0196 is already 290% more than the initial presale offering price of $0.005, it is only the beginning of its roadmap to becoming one of the top meme coins to buy in the market this year. Meanwhile, as the presale progresses through additional stages, experts are expecting prices to go higher with some even predicting a potential 100x increase when the token is listed on major exchanges in Q2 2024.
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