The past several weeks have not been very exciting for the crypto market as some of the altcoins have been declining while others are more or less attempting to rise. While Pepe whales have been buying a spree, Cosmos has failed to get out of the descending channel and this has made many investors liquidate.
On the flip side, KangaMoon has been the star of the bull market, more than doubling its price in the week when most of the cryptos faced losses. KangaMoon is expected to lead the market in gains in the second half of this year as more and more people engage with its SocialFi system.
Pepe Whales Go on Buying Spree Anticipating a Price Increase
In the first half of this year, Pepe Coin (PEPE) was one of the biggest gainers, rallying by more than 800%. However, mirroring the price movement of the crypto market in June, the price of the meme coin has dipped by more than 25% in the last 30 days.
Pepe whales are taking advantage of the price dip to increase their bags. Whale Alert highlighted that a major whale bought over 1.23 trillion PEPE tokens worth over $14.7 million. The massive accumulation of the meme coin shows that whales believe the price of Pepe could recover in the coming weeks.
Cosmos (ATOM) Extends Declines Below Key Support
Cosmos (ATOM), the leading interoperable blockchain, has been on a descending line throughout 2024. The Cosmos crypto has lost more than one-third of its value in the market since the beginning of the year. The nature of the crypto market is such that prices fluctuate, and there are periods of decline, and this is where ATOM finds itself.
New market lows have pushed Cosmos crypto under the important $7 level of support for the first time since November 2023. In this case, the price of Cosmos may continue to fall below $7 and may even hit the $6 support level. As a result, many Cosmos investors are now on the lookout for other effective places to invest their money.
Investors Bet Big on KangaMoon To Lead the Bull Market
While the outlook of many top cryptos has been bleak, KangaMoon has been one of the few bright spots in the crypto market. Rallying on the momentum created by its listing on Uniswap and BitMart, the price of KangaMoon has more than doubled to trade above the $0.10 level. Early investors who bought at the price of $0.01 still believe KangaMoon could rise even higher.
In its presale, KangaMoon raised over $8 million, with thousands of investors betting on the project to redefine the meme coin space with real utility and opportunities for its users to earn passive income. This big bet has been placed on KangaMoon because of its unique SocialFi, P2E, and DeFi into its meme coin space.
KangaMoon users can either earn through completing battle-themed tasks and competitions, or simply by engaging with the project’s promotion on social media. Through this model, everyone is given an opportunity to earn free tokens.
Amidst its growing popularity, the KangaMoon team has also launched a staking platform. With even more expansion coming in the second half of this year, the KangaMoon token, KANG, is ranked among the best altcoins to buy and HODL for long-term gains.
Conclusion
The current bearish outlook of Pepe and Cosmos has forced many investors to move to the more promising KangaMoon. While early investors have already seen a 10x ROI, top industry experts have said that the market cap of KangaMoon could soon cross $1 billion, meaning another 10x gain could happen soon.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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