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While KangaMoon takes the centre stage among memecoins, as a result of the date for its listing on BitMart drawing closer, crypto enthusiasts wonder if the communities of Shiba Inu and Dogecoin will join the KANG army after these tokens recently faced bearish pressure. Let us find out more.
A bullish flag pattern has developed on the 8-hour timeframe for the Shiba Inu coin. A bullish flag pattern breakout must be successful in order for there to be a 50% bullish wave. Meanwhile, the Shiba Inu price is currently trading at $0.0000256 per token, having increased by over 9% within the past 7 days.
Moreover, the Shiba Inu coin, which is ranked twelfth and has a market cap of $15.06 billion, has reversed the downward trend that it started in March. Shiba Inu (SHIB) broke above the downtrend at the beginning of the week and has been trading above the averages for the past five days.
Dogecoin (DOGE), currently ranked eighth with a market cap of nearly $24 billion, surged above $0.22 in March 2024 before facing selling pressure. In March 2024, Dogecoin price surged from $0.08 to $0.22 but then saw a decline that lasted for more than a month. Looking at the daily Dogecoin price chart, it is obvious that Dogecoin is trying to break the downward trend by trading near the $0.17 resistance zone.
Initial resistance levels for the Dogecoin price will be $0.17 and $0.1946 if it starts to close each day above both the downtrend and $0.15347. The initial support levels for Dogecoin are at the EMA5 and EMA21, which are $0.15202 and $0.15076, respectively, if selling pressure increases.
Emphasizing innovation and usability, KangaMoon (KANG) is upending the meme coin market and rewriting the traditional story about memecoins. With aspects of social-fi, KANG, the well-known meme coin that has already raised $6,984,443.154, offers a dynamic and engaging gaming experience by letting users engage in thrilling activities like fighting opponents, watching competitions, and even betting on the results.
In addition, KANG holders have access to special advantages including challenges every week, every month, and every three months. Currently selling at $0.025 per token, a significant 400% rise over its initial offering of $0.005, KangaMoon is at the bonus stage of its presale.
The meme coin is expected to appreciate greatly once more, maybe by a factor of 1,000, when it is listed on BitMart, a Tier-1 centralized exchange (CEX), ideally in the second quarter of 2024. In the meanwhile, CoinMarketCap and CoinGecko already have KANG listed. Buy KANG tokens during the presale and promote KangaMoon on social media to get the chance to win KANG tokens.
Despite popular memecoins like Shiba Inu and Dogecoin rising to the top of investors' profit-generating lists, the market capitalization of KangaMoon is still low, hence raising its price would cost less money. This specific quality of KANG has made it one of the best new meme coins, possibly making it difficult for Shiba Inu and Dogecoin to compete with it after its listing. Moreover, analysts predict the token to skyrocket up to $1.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
