Sparklo (SPRK), a new crypto project, has recently gained significant traction and investment during its stage one presale phase, drawing investors away from established coins like Shiba Inu (SHIB) and PancakeSwap (CAKE).
Shiba Inu (SHIB): Price Faces Critical Trade Level
Shiba Inu’s (SHIB) 1-day chart indicates its price has reached the crucial support level at $0.00001005, with a current trading price of $0.00001021.
However, last week, Shiba Inu’s (SHIB) 1-day chart displayed an ascending triangle pattern, indicating a possibility of an over 50% increase in the upcoming weeks.
However, the crypto market’s downturn caused Shiba Inu (SHIB) to break the ascending triangle pattern, leading to its current state of being range-bound between $0.00001005 and $0.00001151.
In case the range’s support fails, Shiba Inu (SHIB) could potentially drop to $0.00000965 or even $0.00000855, marking a significant trend break if it falls below the trading range. Last week, ETH whales purchased 200 billion worth of Shiba Inu (SHIB) according to IntoTheBlock data. This could mean a bullish momentum soon but its impact remains uncertain currently.
PancakeSwap (CAKE) Drops 10% Amid Bearish Market
PancakeSwap (CAKE), like the rest of the cryptocurrency market, is experiencing immense pressure and has dropped by 10% in the last trading day.
Furthermore, the price of PancakeSwap (CAKE) has declined by 25% since early February and has reached lows seen in March 2023, with a possibility of breaking the support line at $3.45.
Currently, the price of PancakeSwap (CAKE) is $3.01, with a trading volume of $102,078,700 in the last 24 hours. PancakeSwap (CAKE) price has dipped by 10.77% and 18.06% price in the last 24 hours and the past 7 days, respectively. PancakeSwap (CAKE) will need significant momentum from bulls to break out of the bearish market.
Sparklo (SPRK): An Opportunity To Invest In Precious Metals
Sparklo (SPRK) is a Web3 platform that operates on blockchain technology and focuses on facilitating the trade of precious metals, including silver, gold, and platinum. Its primary goal is to democratize access to these rare metals, especially for retail investors.
Sparklo plans to utilize non-fungible tokens (NFTs) to fractionalize investments and make this goal achievable. Through this approach, retail investors can purchase small amounts of platinum, silver, or gold that fit their budget.
Moreover, the precious metals industry is an exceptionally profitable sector with a total market cap exceeding $14.99 trillion. Among the three metals, gold has the highest market cap of $13.3 trillion, followed by silver at $1.42 trillion, while platinum’s market cap is $273 billion.
Due to its projected growth potential of 4,000x, many investors and analysts believe that Sparklo has the potential to become one of the top 100 cryptocurrencies.
Currently, Sparklo is in the presale phase, offering tokens at a price of $0.015. This presents an excellent opportunity for early investors and crypto enthusiasts to get on board.
Find out more about the presale:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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