While Ethereum and Chainlink both witness a substantial increase in their respective prices, KangaMoon which is a new player in the meme coin market also joins the league. Having increased by 400% during its ongoing presale, analysts predict a further explosion in KANG’s price in the coming months while they also predict bullish trends for Solana and Binance Coin which are both posing for a rally. Let’s find out more.
KangaMoon Is One Of The Best Meme Coins To Buy
Amidst the current meme coin frenzy in the meme coin market, KangaMoon (KANG) has gained increased public recognition as a result of its presale success. Furthermore, KANG currently has over 32,000 registered users and is almost at $7 million in raised funds. While KangaMoon is part of the Play-to-Earn (P2E) booming market, which is projected to reach $8856 million by 2028,
The team is creating a play-to-earn (P2E) game where players may level up their characters and buy items with KANG. This development will benefit KANG, which will benefit more than 99% of other hype-driven memecoins.
During the bonus stage of its presale, each KANG is currently valued at $0.025—400% more than its initial pricing of $0.005. However, if KANG is listed on a Tier-1 CEX like BitMart, which has announced the token’s upcoming IPO, analysts believe it may increase 100x.
Interestingly, CoinMarketCap and CoinGecko have already listed KANG. Cryptocurrency enthusiasts are excited about KANG because of its anticipated rapid increase, making it one of the best meme coins to buy at the moment.
Ethereum Price Rises Amid ETF Issues
Bloomberg’s James Seyffart recently revealed through his X account that at least five prospective Ethereum ETF issuers have already filed their updated applications with the CBOE. He listed the following companies: Franklin Templeton, VanEck, Invesco/Galaxy, Ark/21Shares, and Fidelity. Final rulings on VanEck and Ark Invest’s applications are expected from the US SEC tomorrow, May 23, and Friday, May 24, respectively.
Meanwhile, the Ethereum price has surged by over 26% within the last 7 days and the Ethereum market cap just dipped a little by 0.5%. While the Ethereum market cap hovers around $452.4 billion, Bloomberg’s analysts Seyffart and Eric Balchunas announced on May 20 that they were increasing the likelihood that the SEC will approve an Ethereum ETF from 25% to 75%.
Chainlink Price Chart Analysis
The Chainlink price has been moving steadily higher during the last seven days, going from an astounding $13.6 to $17.3, marking a roughly 22% rise. Moreover, the market cap of Chainlink currently stands at $9.74 billion, making the coin the sixteenth largest cryptocurrency. Meanwhile, the recent breakout of Chainlink price above the $16 resistance level, which ended a two-month decline trend, is remarkable.
The market’s dynamics have changed significantly due to this breakout, and to contain the sharp increase, the Chainlink price chart reveals a possible consolidation above the $16 support level. If the rising trend continues, investors could pay close attention to critical resistance levels of $18.6, $20.7, and $22.8.
Solana Price Prediction
Among the greatest cryptocurrencies is Solana, which is leading the way in blockchain technology thanks to its quick transaction times and inexpensive costs. With experts projecting significant Solana price increases in the following months, 2024 offers a growth opportunity for the altcoin.
Meanwhile, famous cryptocurrency trader CryptoJack has issued a noteworthy Solana price prediction, stating that a breakout may be indicated by certain bullish patterns that are beginning to appear in the charts. A new all-time high for Solana might be set this year at over $500, which would be almost 200% more than the Solana price is currently, according to analysts like Altcoin Sherpa.
Binance Coin Price Chart Analysis
A noteworthy shift in the Binance Coin price behaviour is shown by Captain Faibik’s recent analysis. On the daily Binance Coin price chart, a bullish pennant pattern has appeared, according to his post, suggesting that the upward trend for Binance Coin may continue. A continuation pattern known as a bullish pennant usually develops following a powerful upward advance, or flagpole.
To form a triangle that resembles a pennant, the price moves inside convergent trend lines throughout the consolidation phase of this pattern. In this stage, the Binance Coin price has been creating higher lows and lower highs, signifying a brief lull in the rising trend. Meanwhile, the breakthrough over the pennant’s upper trend line, which Captain Faibik has verified, is the most important component of this analysis.
Will KangaMoon Sustain Its Rally?
While the price of KangaMoon has continued to surge during its ongoing presale, some enthusiasts wonder if the rally will continue after the token’s debut. In the current state of KangaMoon’s market capitalization, pumping the price is less expensive. As a result, KANG has the potential to sustain its rally.
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