The cryptos market has over 10,000 cryptos, and the number continues to increase every month. As a result, it has been difficult to know which is the best crypto for beginners. Thankfully, analysts have come to the rescue and have picked Shiba Inu, Injective, and the new meme coin, KangaMoon, as good choices for beginners. Let us see why.
Shiba Inu (SHIB), one of the top meme coins in the meme coin market, has seen a massive increase in whale transactions. Data from IntoTheBlock revealed a large uptick of 422.58% in Shiba Inu's large transaction volume.
This surge translates to $374.98 million (28 trillion SHIB), marking the peak activity of this nature over the past week. Also, Shiba Inu's large transaction volume hit a yearly high, with 28 trillion SHIB recorded on Friday. The last time Shiba Inu reached such a feat was in March 2023.
This increased whale activity comes as Shiba Inu coin witnessed a 46.5% price increase in the meme coin market. The token climbed to a weekly high of $0.00001435 from its weekly low of $0.000009352.
Injective (INJ) had been fluctuating within a specific range in the past month. However, this pattern was broken on February 27th when Injective price increased by 13%. The price of Injective has increased from a weekly low of $32.61 to a peak of $45.17.
This price surge increased its gains on the weekly and yearly timeframes to 26.4% and 1042.9%, respectively. The next step is to break the resistances at $46.92 and $ 48.77 and turn them into support.
Injective technical indicators like the SMAs and 14-Day RSI are currently supporting a potential surge above these resistances. If this happens, Injective coins could rise to $50.51 and $55.86 in the short term and long term, respectively.
KangaMoon (KANG) is a project that aims to add utility to meme coins. It is creating a platform centered around community engagement that combines Social-Fi features with competitive play-to-earn gaming, rewarding active participants.
The native token of the KangaMoon ecosystem, KANG, will have numerous functions on the platform. It is important in the KangaMoon ecosystem as it is used for transactions and other activities.
Currently, KANG is in the second stage of its ICO, attracting large attention. The project has raised about $407,705.384 and sold 54.8% of the tokens, each priced at $0.0075, after already yielding a 50% ROI for early investors.
Notably, KangaMoon is linked to the play-to-earn gaming market which was worth over $885M in 2023. Given the size of the market, analysts are forecasting a 220% ROI for investors in the presale and a 350% ROI after the project is listed on exchanges.
While beginners can consider Injective, Shiba Inu, and KangaMoon as good coins to invest in, analysts picked KangaMoon as the best crypto for beginners. This is due to a community-driven platform that gives investors a chance to earn free tokens. Also, KangaMoon is just starting, giving beginners a chance to grow along with the platform.
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