PEPE surged recently amid substantial accumulation by a venture capital firm while DOT declined. Meanwhile,the new AI meme sensation, Raboo, is back in the news with over 10,000 registered users and more than $2 million raised.
Crypto experts have predicted that Raboo presale token will continue to gain traction, making it one of the best altcoins to invest in 2024.
Pepe rallies amid increased investor confidence and volatility
PEPE's recent rally was driven by heightened retail interest and a bullish market sentiment. Notably, venture capital firm Nascent accumulated 141 billion PEPE, boosting its total holdings to 608.85 billion.
Nascent's significant accumulation of PEPE resulted in a 23% price surge on July 16, alongside a substantial rise in PEPE's futures open interest and derivatives volume. On-chain data revealed that Nascent swapped MKR positions for PEPE and LDO tokens, indicating strong confidence in PEPE's potential. The RSI for PEPE is around 58, suggesting a neutral market with a slight bullish trend, potentially leading to more buying opportunities.
Technical indicators show PEPE trading just below its 9-period EMA at $0.0000121, with the EMA serving as immediate support and another key support level at $0.0000085. Market analysis highlights the importance of this support during potential volatility, especially with the upcoming launch of ETH ETFs. Crypto experts have opined that PEPE might be one of the best cryptos to buy right now, given that the increasing number of investors alongside strong trading volumes signal a potential bullish trend ahead for PEPE.
Polkadot dips amid broader market downturn
DOT continues to underperform since Q3 of 2024 began after the Polkadot network activity hit a significant low in June, highlighted by notable decline in active addresses on both its Relay Chain and parachains. Crypto analysts noted that the leading Layer-0 blockchain was significantly affected with a significant drop in user demand that eventually caused a 15% month-over-month decrease in active addresses on the Relay Chain and a similar decline on parachains. However, coin transfers on parachains slightly increased by 10% from May to June 2024.
The dip in Polkadot’s network activity has caused a substantial decline in DOT’s price with the token currently trading at $6.02, representing a 5.66% decline this week. Furthermore, the Relative Strength Index (RSI) for DOT indicates a potential bearish trend, with the RSI value at 42.32, suggesting that more holders are selling DOT faster than the accumulation rate.
Although investors are yet to receive specific details concerning Polkadot’s upgrade to Polkadot 2.0, analysts believe that DOT might be on track for recovery amid plans by the Web3 Foundation to invest in Polkadot alongside the upcoming partnerships with the Heroic esports platform and Polimec funding protocol. If the partnerships succeed, DOT’s might witness a rebound that could propel the token towards a positive future.
Raboo: The new meme token revolutionizing crypto with Social-Fi and AI hits another milestone
Raboo, the new meme token, is back in the limelight, driven by its commitment to fostering a strong community of meme enthusiasts by integrating social-fi and artificial intelligence elements. With its novel zero buy and sell taxes, Raboo ($RABT) presale token is based on the Ethereum blockchain, featuring a fully audited smart contract by SOLIDProof for maximum reliability. Raboo’s goal is to empower buyers through staking, allowing them to earn regular tokens at attractive reward rates, thereby solidifying the project's long-term future.
Currently in Stage 4 with an entry price of $0.0048, marketing efforts for Raboo are ramping up, with a series of viral campaigns aimed at making the coin unforgettable. This includes partnerships with platforms and influencers to enhance the project's visibility and growth. Furthermore, the exclusive Rabooscan technology, equipped with AI capabilities, will scan social platforms for fresh memes, analyze them, and generate new AI-created memes, leveraging the power of data-driven content creation.
Raboo's community continues to thrive, with more than 3,000 token holders, and over $2 million raised. The meme token is currently offering a flash sale with an automatic stage bonus doubled from 10% to 20% for a limited period. Raboo's mission to become the biggest meme coin by market cap is fueled by its innovative Post-to-Earn platform, enabling memecoin enthusiasts to monetize their social media content and engage with a like-minded community.
Conclusion
PEPE surged recently due to increased significant accumulation by venture capital firm Nascent. In contrast, Polkadot's network activity declined, causing the DOT token price to dip. Meanwhile, Raboo, tipped as one of the best altcoins to invest in, is set to revolutionize the Meme Coin ecosystem with several innovative features that has positioned it as one of the best cryptos to buy in 2024.
Twitter: https://twitter.com/Raboo_Official
