With the unpredictability of the crypto market, altcoins continue to vie for stability by developing new projects and gaining new partnerships and collaborations. As the altcoin stratum continues to gain institutional engrossment, crypto projects like Ripple (XRP) and Tether (USDT) have become a favorable choice. Notably, Ripple recently launched its own stablecoin ($RLUSD) as it has become more evident that institutional investors are more concerned about stability than anything else as they slowly embrace cryptocurrency. However, recently-listed KangaMoon (KANG) is also at the frontline gaining investors’ attention as the best new meme coin to look out for.
KangMoon Rapid Adaptation to New Market Dynamics Makes Headlines
The meme coin market is no longer what it used to be, especially with the emergence of more utility-backed meme coins like KangaMoon (KANG). Notably, KangaMoon blends both SocialFi and GameFi’s play-to-earn element in order to create a unique gaming experience for its users. The goal of KangaMoon is to promote a strong community of meme enthusiasts by engaging them in incentivized activities.
Essentially, KangaMoon’s upcoming gaming ecosystem dubbed “Kangaverse” will allow participants to engage in different activities ranging from battle-themed contests using custom KangaMoon characters, speculative betting and many more. By participating in any of these activities, players get to win valuable rewards such as the native KANG token, and other in-game items, all of which can be traded for real-world value on the platform’s dedicated marketplace.
Meanwhile, having recently concluded its presale campaign, KangaMoon has attracted a lot of following with its impressive milestones which included over $8M in presale revenue and a noteworthy 400% price increase during the presale. While KangaMoon token sold for $0.025 at the final presale stage, it has witnessed even a more substantial increase since listing on top-tier exchanges like Uniswap and BitMart and coin trackers like CoinMarketCap and CoinGecko.
Currently, the KANG token is trading within the weekly price range of $0.05 and $0.08; compared to its initial offering price of $0.005, the price of KangaMoon has surged more than 1500% which further proves that the meme coin could eventually achieve the 100X token status before the end of the year as predicted by many experts. Moreso, considering the imminent game launch, KangaMoon is projected for further growth, making it a good choice among savvy investors.
Tether Stablecoin Mint Breakoff Significance
Tether(USDT) token being the world’s largest stablecoin, was introduced into the crypto ecosystem as a blockchain-based platform designed to make possible the use of fiat currency. Recently, the Tether company halted its coin minting on the Algorand and EOS blockchain which affected a small portion of the total supply of USDT.
Tether mint halting was to ensure a reduction in the disruption of user transition, security enhancement, and efficiency improvement. Although barely stable in the actual sense, Tether price has seen a modest decline of 0.14% over the past month and it’s currently priced at $0.9984 with a market cap of over $112B.
Ripple Market Trends and Effort Towards Achieving Stability
Ripple Network’s recently launched a native stablecoin ($RLUSD) in an attempt to bring stability to the market. While at that, the price of Ripple (XRP) has undergone a false breakout in its resistance level. Notably, Ripple (XRP) surged by 2.57% over the week but was observed by users that there was a significant price drop of XRP that wasn’t shown on major trading platforms, giving it a 0.44% decline in price in the last 24hrs.
Meanwhile, Ripple is currently trading between $0.480 and $0.488 as it tries to hold strong. Given recent analysis, Ripple token could break past the $0.49 resistance soon with an RSI of over 70. In addition to the bullish sentiment, Ripple’s MACD is somewhat positive, which could enable Ripple to rise by 6% in the nearest term if there is a favorable market condition and trend.
KangaMoon (KANG) Sets To Take The Market by Storm; Why Investors Are on The Outlook
With Ripple and Tether being in the spotlight, there is a limit to their potential as the meme market continues to grow. KangaMoon has over $8million generated in revenue after its presale ended. This has brought in numerous investors especially after the price of KangaMoon surged by 400% from $0.005 mark to $0.025. With additional 10X price increase following its listing on top-tier exchanges like Uniswap and BitMart, market analysts now rank KangaMoon as a top meme coin, touting it to outpace the likes of Shiba Inu and Floki.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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