Explore the potential of Ethereum (ETH) and Cardano (ADA) as they gear up to take charge while KangaMoon, the presale star, emerges as the favored crypto pick among analysts.
After an elongated period of declines, two top crypto coins, bulls are ready to take charge of Ethereum (ETH) and Cardano (ADA). While Ethereum has successfully broken out of a wedge pattern which may result in a new ATH, the price of Cardano may also surge this month based on historical data.
Although these two top cryptos are inching towards a bullish market, all attention has been on KangaMoon, the new SocialFi meme coin. After doubling its price in under a week, analysts have set a price target of $1 for the new crypto.
In the first few months after spot Bitcoin ETFs were approved early this year, the crypto king went on a major price rally. Top market experts expect the same scenario to play out with Ethereum (ETH). Initially approved on May 23, top industry expert Eric Balchunas expect Ethereum ETFs to begin trading in the US in the next few days.
Ahead of the anticipated milestone, the Ethereum price chart is already flashing a bullish signal. The price of Ethereum is currently higher than the 50-day and 200-day simple MAs, confirming the bullish intention of breaking through the wedge pattern. When this happens, the Ethereum price could target $4,880 for a new ATH.
Cardano (ADA) was one of the many top crypto coins that suffered a long spell of bearish pressure in the market. However, things are beginning to look different for the altcoin. From a monthly low of $0.370, the price of Cardano has skyrocketed to close in on the $0.4200 support level, which will be crucial for ADA in July.
The price recovery comes ahead of the upcoming Cardano Cheng hardfork. Also, this major event will be happening in July, a historically bullish month for Cardano. According to historical trends, the Cardano price could increase by as much as 45% in July, making ADA one of the best coins to invest in at the moment.
Although the top altcoins are preparing for a bull run, the attention of most market experts has been on KangaMoon. KangaMoon first caught the attention of industry experts in presale, where it raised over $8 million and onboarded more than 32k users. The resilience shown by KangaMoon during the recent market dip is one of the reasons market experts are bullish about this new altcoin.
While the crypto market dipped, KangaMoon surged by over 100% following its listings on Uniswap and BitMart. Thanks to its recent price surge, the price of the KANG token now sits around the $0.10 range, an outstanding 1,000% price increase from its initial price of $0.01.
Investors jumped on the KangaMoon train because they believed it could change the meme coin space. Following its successful debut on these platforms, KangaMoon has now launched its staking platform, allowing users to earn very high APRs. Unlike other top altcoins in the meme coin space offering next to no utility, KangaMoon strategically blended SocialFi with a P2E gaming ecosystem.
The KangaMoon P2E game will also be launching soon, adding more excitement to the project. Through KangaMoon’s SocialFi framework, its users will earn rewards for joining and engaging with the project’s promotion on social media. This is in addition to the rewards they will earn from the game.
While the top altcoins, Cardano and Ethereum are set for price increases, KangaMoon’s market-changing potential gives it a bigger chance of success chance. Based on its impressive growth during the bear market, market experts believe KangaMoon can attain a price of $1 and a market cap above $1 billion before the year ends, making it one of the best coins to invest in at the moment.
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