Could AVAX, RABT or ENA Supercharge Your Wallets In The Upcoming Bullrun

The crypto market has proven difficult to provide investors with big opportunities over the past days. AVAX is currently experiencing a major decline with no signs of recovery after a month of greens. While ENA has refused to trade green despite major moves made by the project. Raboo, however, a new AI-backed meme coin has come with potential to place among the top 20 cryptocurrencies of 2024. The project presents lots of features designed to provide gains for investors. Keep reading to find out more.

AVAX unexpected price decline causes major losses

On July 25th, Avalanche AVAX hit the moving averages after declining from $32.88 on July 22nd to its current price of $26.88, suggesting a lack of demand at elevated prices. 

Neither the bulls nor the bears have a distinct edge due to the flattish 20-day SMA ($27.55) and the RSI slightly above the middle. The AVAX/USDT pair might fall below $24 and ultimately $21.80 if the price falls below the 20-day SMA. Conversely, a price bounce off the moving averages will indicate that the bulls are attempting to create a higher low. In order to indicate that a more robust rebound toward $37 and eventually $42 is underway, the bulls would have needed to drive and hold the price above $32.

However, AVAX has experienced a major decline in the last 24 hours. This took investors by surprise considering that AVAX has been mostly bullish since the month began. Holders are looking to $27.0 as a support level that will cause a reversal.

ENA continues to decline despite large TVL

With a TVL of more than $3.5 billion, Ethena (ENA) is now one of the biggest new protocols available on the market. Recently, the protocol updated its roadmap with additional tokenomics and staking options to maintain ecosystem stability and long-term growth.  

Despite this news, the Ethena coin is trading in losses. With the most recent SEC news, this might alter. According to KryptonBTC, $0.8519 and $1.0054 are the altcoin's potential future aims. 

Even though Ethena's stock is in a bear market and is currently valued at $0.42 following a 26% monthly decline, it still has a market capitalization of $733 million. At $89 million, its trade volume has dropped by 53%. ENA's value fell 8.9% this past week and 9.98% this past 24 hours, indicating general unfavorable sentiment in the market. When observing Ethena, investors should be on the lookout for indications of either a continuation of the decline or an uptick in bullish momentum.

Raboo ($RABT) on a mission to the $62 billion meme market

The presale token Raboo ($RABT) has caused quite a stir in the cryptocurrency market, since it has the potential to reshape the $62 billion meme sector and soon pose a threat to top cryptocurrencies like DOGE and SHIB. Investors are now rushing to the AI-backed meme coin, no wonder it has already registered over 10,000 users onto its platform while in Stage 4 of its presale. 

Given its ambitious goal of creating a robust virtual economy centered around meme culture, experts think it's worthwhile to invest in Raboo. The AI meme coin aims to harness the potential of decentralized technology to build an environment in which valuable memes can be found in addition to concentrating on financial transactions. 

Raboo has distinct tokenomics, with a total supply of 1.8 billion tokens, which sets it apart from other currencies. The token's transaction tax structure, which offers a 0% buy tax and a 0% sale tax to promote broad adoption and participation as well as maximized profits, is especially notable. Its aim to be in the top 20 cryptocurrencies in 2024 is definitely realistic. The best aspect is that investors can still buy Raboo tokens for as little as $0.0048, despite the fact that it is expected to increase in value by 100x upon launch. This allows investors to see the largest gains in the meme coin environment.

Conclusion

Both AVAX and ENA are currently in the hands of the bears with no indication of when there would be a reversal. This has caused their investors to consider a more profitable project. On the top of that list is Raboo, a new AI- backed meme coin with great potential. Although still in its presale phase, Analysts expect the price of Raboo to grow by 233%, and 100x on launch day.

You can participate in the Raboo presale here.

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