Market
Celestia and GOAT investors turn to Poodlana to try and recoup losses
- Goatseus Maximus (GOAT) and Celestia (TIA) are facing significant price declines.
- Poodlana (POODL) offers a low entry price of $0.003221, attracting new investors.
- Poodlana raised $8 million in presale, indicating strong demand and growth potential.
In the volatile world of cryptocurrency, investors are constantly searching for opportunities to recover from losses and capitalize on emerging trends.
Recently, many have been looking toward Poodlana (POODL), a Solana-based meme coin that is gaining traction as established cryptocurrencies like Celestia (TIA) and Goatseus Maximus (GOAT) face challenges.
As these established coins face challenges, Poodlana offers an attractive alternative for investors hoping to regain their footing in the market.
GOAT and Celestia face challenges
Goatseus Maximus (GOAT), currently ranked at position 146 by market cap, has recently experienced a significant downturn.
Currently priced at $0.5368, GOAT has seen a decline of approximately 4.4% over the past 24 hours, exacerbating its losses, which now stand at nearly 30% over the past month. Following the price decline, investor confidence has waned, leaving many seeking alternative investments that might offer better potential returns.
On the other hand, Celestia (TIA) has also faced its share of difficulties. Priced at $4.63, TIA has seen a notable decrease of around 7.4% in the last day, following the unlock of 176 million TIA tokens, which raised concerns among investors.
The token unlock event not only triggered fear, uncertainty, and doubt (FUD) in the market but also led to a price drop of about 9%. Analysts suggest that the failure to maintain the critical support level of $4.506 could trigger further declines, with potential selling pressure looming due to the significant token supply now in circulation.
Taran Sabharwal, CEO of the Stix trading platform, has attempted to reassure investors by clarifying that not all unlocked tokens will be available for immediate sale, as there is a 21-day unstaking period. However, the sentiment remains cautious, with many investors anticipating further declines in the short term.
Both GOAT and TIA have thus left their investors on edge, leading many to explore new opportunities.
Poodlana emerges as a promising alternative
Amidst the uncertainty surrounding GOAT and Celestia, Poodlana (POODL) emerges as a beacon of hope for investors looking to recoup their losses.
As a Solana-based meme coin, Poodlana has captured the interest of many due to its low entry price of $0.003221, offering significant growth potential compared to the more established cryptocurrencies. Poodlana has already demonstrated promise by raising $8 million during its presale, indicating strong demand and interest among investors.
The allure of Poodlana lies not only in its price but also in the favourable macroeconomic conditions projected for 2024.
Analysts anticipate a lower interest rate environment in the coming months, which could enhance liquidity in the market, thus favouring altcoins like Poodlana. Historically, meme coins have thrived in similar conditions, and with its strong foundation, Poodlana is well-positioned to benefit from these trends.
Additionally, the upcoming US presidential elections may catalyze the cryptocurrency market. Both major candidates have expressed favourable attitudes toward cryptocurrencies, potentially leading to a more supportive regulatory environment.
This political backdrop, combined with Poodlana’s already solid standing as a project built on the fast and cost-effective Solana network, adds another layer of appeal.
Moreover, Poodlana has gained visibility by being listed on three major exchanges: MEXC, Raydium, and BingX. This accessibility provides a broader audience with the opportunity to invest and increases its growth potential, particularly for those who may have missed the early gains of other meme coins like Dogecoin and Shiba Inu.
Conclusion
As investors from GOAT and Celestia grapple with the recent market challenges, Poodlana stands out as a promising alternative.
With its low entry price, strong presale success, and favourable market conditions on the horizon, Poodlana (POODL) presents an attractive opportunity for those looking to recoup losses and capitalize on future growth.
If interested in POODL, you can visit the official Poodlana website for more information about the project.
Market
ADA Sights More Growth After Breaking $0.8119
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Market
PNUT Price Nears Oversold Zone After 20% 24-Hour Decline
PNUT price has dropped more than 20% in the last 24 hours, following its recent surge after being listed on major exchanges, where it reached $2.28. This sharp decline highlights weakening momentum, as indicators like ADX and RSI suggest that the uptrend is fading.
Despite this, PNUT still has the potential for a strong recovery if buyers return. However, if bearish pressure continues, PNUT could face a significant correction, testing key support levels and potentially losing more ground.
PNUT Current Uptrend Is Fading Away
PNUT currently has an ADX of 18.76, significantly down from above 50 just a few days ago. This consistent decline in ADX indicates that the strength of PNUT’s uptrend has been steadily weakening.
Despite still being in an uptrend, the sharp drop in price over the last 24 hours highlights the growing vulnerability of maintaining upward momentum. The ADX suggests a potential reversal could be on the horizon.
The ADX measures the strength of a trend, with values above 25 indicating a strong trend and below 20 indicating a weak or nonexistent trend.
PNUT’s ADX dropping below 20 reflects a weakening trend, even though the current directional movement still leans bullish. If this trend strength continues to deteriorate, PNUT may struggle to sustain its uptrend. That would leave PNUT price vulnerable to a more significant reversal in the near term.
PNUT Is Almost Reaching The Oversold Zone
PNUT currently has an RSI of 32.6, marking its lowest level since being listed on Binance.
The Relative Strength Index (RSI) measures the speed and magnitude of price movements, with values above 70 indicating overbought conditions and below 30 signaling oversold levels.
The consistent decline in PNUT’s RSI over the past few days highlights weakening momentum, with the asset now approaching oversold levels.
If the RSI falls below 30, it could signal that PNUT is significantly undervalued in the short term. However, continued bearish sentiment could keep the price under pressure, delaying any recovery.
PNUT Price Prediction: A 72% Correction Ahead?
If PNUT price experiences a reversal and a strong downtrend emerges, it could test the support at $0.749. Should this level fail to hold, the price may drop further to $0.41 and even $0.32, marking a significant potential correction of up to 72%. This would make PNUT be surpassed by other meme coins such as MOG, GOAT, and MEW in terms of market cap.
Such a scenario would indicate increased bearish pressure, with traders potentially continuing to exit positions after the surges following the listing on major exchanges.
On the other hand, if PNUT uptrend regains strength, the price could rise to test the resistances at $1.87 and $2.21.
Breaking through these levels could allow PNUT to retest its previous all-time high of $2.50. That would offer a potential 111% upside and establish PNUT as a top 10 meme coin in the market.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
How PNUT, GOAT, BONK Fared
In this weekly analysis of meme coins, BeInCrypto observed that these tokens experienced mixed results. While some tokens saw gains, others grappled with significant losses.
Peanut the Squirrel (PNUT) and AI-created Goatseus Maximus (GOAT) were among the week’s underperformers, both experiencing significant price drops. In contrast, Bonk (BONK) defied market trends, securing its place as one of the top-performing cryptocurrencies. Here’s a detailed recap of the week’s developments.
Peanut the Squirrel (PNUT)
At the beginning of the week, PNUT’s price was $1.94. However, the meme coin’s value has since decreased by 33%. This significant decline could be attributed to selling pressure from those who held the token until it reached an all-time high.
PNUT’s price is currently $1.17. However, the one-hour chart shows that the Relative Strength Index (RSI) has dropped to 31.66. When the RSI climbs to 70.00, it means that the asset is overbought.
On the other hand, if it is below 30.00, it means that it is oversold. Therefore, while the RSI reading indicates bearish momentum, it indicates that PNUT is oversold.
As such, the meme coin’s price could be in line for a rebound. If validated, then PNUT’s price could bounce toward $1.40. In a highly bullish scenario, the meme coin could rally toward $1.72. However, if selling pressure increases again, the price could decrease below $1.15 when we publish the next meme coins weekly update.
Goatseus Maximus (GOAT)
Similar to PNUT, GOAT, another meme coin, faced a sharp decline this week, with its price dropping by 22%.
The price of GOAT has fallen to $0.87, possibly due to waning interest in AI-themed meme coins. The shifting narrative in the meme coin market suggests that some traders may be moving on from the AI buzz, seeking opportunities elsewhere.
Adding to the bearish sentiment, GOAT’s 4-hour chart has revealed a head and shoulders pattern, a classic bullish-to-bearish reversal indicator. This formation suggests that the meme coin could face further downside.
If the pattern plays out, coupled with the negative Moving Average Convergence Divergence (MACD), GOAT’s price could decrease to $0.66. However, a surge in buying pressure could invalidate this bias. If that happens, the value could jump to $1.37.
Bonk (BONK)
Contrary to GOAT and PNUT’s performance, Bonk’s price experienced a 28% hike. This price increase happened because the project disclosed that it would burn 1 trillion tokens by December 25 at the latest.
As a result, this disclosure sent euphoria around the Solana meme coin’s community, driving demand and a higher value for the token. However, BONK faces resistance at $0.000050, which has made it challenging for the cryptocurrency to rise much higher.
Despite that, the Bull Bear Power (BBP) shows that bears do not still have control. If sustained, then BONK’s price could move toward $0.000060.
On the flip side, if bears outpace bulls’ dominance, that might not happen, as the next meme coins weekly analysis could see it decline to $0.000043.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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