As the bearish market continues, key support levels for many altcoins are weakening, failing to absorb the overhead supply. The best performers have been under 30% or facing severe corrections in the last few days. Despite the sell-off pressures igniting a domino effect, several top altcoins signal high recovery potential.
The top picks include KANG, ONDO, OKB, TON, and ARB. Their price action signals a continuation of a bull run and could spearhead the next recovery rally in the market. In this article, we explore why crypto whales are accumulating these altcoins.
KangaMoon on Crypto Whales Radar—Is it Worth Buying?
While other altcoins struggle with price correction amid the market dip, the KangaMoon (KANG) presale continues to record new milestones. For one, the KANG token has raised over $6.5 million in revenue funding and recorded an over 400% ROI in price value. As a result, crypto whales are accumulating the presale gem for potentially lucrative returns.
At its core, KangaMoon is set to launch a vibrant community where meme coin enthusiasts interact, participate in fun-filled challenges and tournaments, and ultimately earn rewards and prizes. This unique blend of Play-to-Earn concept and SocialFi elements, and high potential growth has attracted seasoned and new investors to its presale.
Remarkably, the altcoin has amassed over 6,000 holders and over 20,000 registered members, reflecting overall market confidence in the altcoin. Unlike other altcoins, the KANG token offers actual utility—serving as an in-game currency for its ecosystem. Users in the KangaMoon ecosystem will use its native token to access exclusive games, upgrade characters, and buy in-game items in the marketplace.
Currently priced at $0.025 in its presale stage 5, KangaMoon could surge to astronomical heights in the coming days. With a possibility of a Tier-1 CEX listing in Q2, experts hint at the KANG price surging 50x to climb to $0.5. Moreover, KangaMoon is strategically set to enter the P2E gaming industry, which is predicted to increase in value to $885M by 2028.
The move could further propel the price of KANG as it opens up this market for investors. With this view, they believe KangaMoon is worth buying for potentially lucrative returns.
Arbitrum Upward Trajectory—Will sustain its Momentum?
While the rest of the market faces price correction, Arbitrum coin is surging, recording a 0.60% bounce in its intraday charts to trade at $1.01, according to CoinMarketCap data. The recent surge is attributed to whale activities on the network. Moreover, Arbitrum Crypto is set to unlock a token event on May 16, 2024.
Thus, various traders are accumulating the Arbitrum coin in anticipation of a price pump. Remarkably, the strategic accumulation of Arbitrum coin will cushion the impact of increased circulating supply, which has stabilized the price of Arbitrum around the $1 mark.
With this view, many experts are making bullish Arbitrum price predictions, suggesting that the price may reach $2.04 in May 2024 due to the excitement around the token event in May.
Ondo Price Remains Bearish—Can it Reclaim the Psychological Mark of $1?
Ondo Finance has had a great start to the year. The DeFi platform aims to bring tokenized treasury products on-chain. With the current market dip, Ondo’s price has witnessed substantial declines, registering a 19% decrease in value over the last week, according to CoinMarketCap data.
However, Ondo’s price action showcases resilience against selling pressures. The chance of the price of Ondo recovering would depend on the market sentiment changing from Fear to Greed. Moreover, the Ondo coin’s dominance at the 200 EMA has stagnated the chances of a consolidation phase.
In any case, the Ondo coin’s daily RSI showcases the chances of a bullish divergence. Should the price of Ondo bounce back and reclaim the psychological area around the $1 mark, the DeFi coin could break out into a rally. As such, the next bull run may push the Ondo coin near the 1.61 Fibonacci level at the $1.32 mark.
Toncoin Crypto Attracts Whales Transactions—Will it Trigger a Price Pump?
Toncoin crypto has been making headlines recently, gaining traction among large investors and sparking speculation around Telegram’s impending IPO. Amid the broader market dip, Toncoin crypto has continued to attract whale investments, further cementing its market position and reflecting on Toncoin’s long-term growth prospects. Remarkably, the price of Toncoin displays strong demand at the support level.
With this view, Toncoin’s price is gearing up for a prolonged rally with a new bounce back. In any case, the price of Toncoin has been registering significant outflow in value, recording an 18% decline on its weekly charts, according to CoinMarketCap data.Â
However, many experts are still optimistic about the price of Toncoin pumping up, suggesting that the altcoin could reach the $15 mark in the next bull cycle.
Could OKB Price Climb Above $100 In the Next Bull Cycle?
The renowned cryptocurrency exchange OKX’s native coin OKB has been experiencing a significant downtrend in the past week due to the broader bearish market. Over the last seven days, OKB coin recorded a 13% decrease to trade between $55.44 and $48.23, showcasing a wedge formation, according to CoinMarketCap Data.
Notably, the OKB price struggles at constant support from the 50W EMA. Should this trend continue, the OKB coin can break out at the trendline. The price of OKB is trading at the baseline and is projecting a new upcycle entry opportunity. Moreover, OKB coin key support levels align with its Fibonacci trend-based retracement level.
Therefore, the gearing underlying demand for OKB crypto can bolster an uptrend in the coming days. With this view, various experts have made bullish OKB price predictions, suggesting that if the upcoming uptrend breaks above the 78.60% Fibonacci level around the $74.5 mark, the next bull cycle could push the price of OKB to $100.
In Summary
As the market dynamic continues to shift, the above altcoins have the potential to offer a blend of innovation and opportunities. While Arbitrum, OKB, Toncoin, and Ondo gear up for price recovery, KangaMoon stands out with its robust presale performance.
The steady monumental milestones, just a few weeks on the market, suggest a strong signal for growing KANG’s future performance. Now is the optimal time to join the KangaMoon community.
Discover the exciting opportunities of the KangaMoon (KANG) presale today!
Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.
Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
