Buckle up all crypto enthusiasts and memecoins aficionados! The blockchain arena is heating up, and it is not your average dog fight. While Dogecoin (DOGE) wags its tail and Polygon (MATIC) sharpens its edges, a new contender has stormed the crypto arena.
We are talking about, a dual-chain dynamo – IntelMarkets (INTL) which is not just breaking records but obliterating them. IntelMarkets (INTL) has recently launched its public presale and it has got all investors’ eyes on it.
While Dogecoin (DOGE) and Polygon (MATIC) investors watch this hot project from sideways, they are also anticipating a massive 864% surge in the coming time. Let’s dive into the details and explore what’s behind such a huge prediction!
Dogecoin’s Bearish Trend Continues, Price Drops 4.15%
The leading meme coin, Dogecoin (DOGE), has had a price decline of 4.15% over the last day with a trading volume of $547.47 million, amid an ongoing downturn in the cross-border market. In addition, it has dropped 22.7% in the last month. This indicates a long-term bearish trend.
In the 1D time frame, the DOGE price chart encounters resistance from the EMA 50-day. In addition, there has been a bearish convergence of the RSI with its average trendline. This suggests that there is more selling pressure on the market for Dogecoin.
The bulls will be ready to retest the Dogecoin (DOGE) price’s resistance level of $0.127 in the next weeks if the market keeps the price above its critical support level of $0.1010. On the other hand, a bearish movement can cause Dogecoin (DOGE) to drop below its $0.0780 low.
Amidst all of this, more than 94,000 holders of Dogecoin (DOGE) are eager to see where the price of DOGE will go. Collectively, these investors own almost $4 billion in DOGE. Should the trend reverse to be favorable, they might turn into profit.
Polygon (MATIC) Shows Signs of Recovery, Breaks Support Level
With a three-month negative trend broken, the price of Polygon (MATIC) is gradually becoming positive. Despite a 4.19% drop in the previous 24 hours, MATIC is presently trading around $0.4973, with support at this level.
Investors are expecting a possible reversal from this point, which may drive the price up to $0.65, or 25% higher, perfectly ahead of the upcoming POL migration.
The Polygon network has recently experienced a rise in whale activity. With just a week to go before the planned token migration, a lot of investors could be trying to get MATIC for a lower price. Whale activities increased on August 27, according to Santiment, which saw nine trades involving big investors with MATIC holdings over $100,000.
As a result of this action, the price of MATIC dropped to $0.4917, the lowest level since the start of the week, indicating that whales are hoarding the token in anticipation of the coming changes.
Furthermore, data from Spot on Chain indicates that within the last five days, the Polygon Foundation sent 15.49 million MATIC worth around $8.1 million to Binance. The wallet still holds 13 million MATIC, however, it is staking and has been holding the tokens since April 2023, when they were received from the Polygon Foundation contract.
The rationale behind a wallet connected to the Polygon Foundation sending tokens to Binance is currently a mystery. However, that is not a favorable indicator because depositing big amounts of tokens in exchanges typically indicates a probable sell-off.
IntelMarkets (INTL) Disrupts Crypto Trading with AI-Powered Platform
One cryptocurrency that is starting to make a splash is Intel Markets (INTL). With the launch of an AI-powered perpetual futures trading platform, they want to completely transform the cryptocurrency trading sector.
Since its introduction, investors have shown a great deal of interest in Intel Markets. Over $150,000 in cash has been raised for the project thanks to their acquisition of 18% of the coins during the first phase.
This platform is utilising the perpetual futures market, which has a daily trading volume of over $100 billion. Both novice and seasoned investors may benefit from the wide range of trading tools and options available at Intel Markets.
The major feature that distinguishes Intel Markets (INTL) from the competition is its dual-chain approach, which allows it to function on two blockchains, one Solana (SOL) and the other Ethereum. Moreover, they are building their own blockchain, which will revolutionize their business.
Current cryptocurrency industry analysts claim that Intel Markets is the most sought-after initial coin offering (ICO). They anticipate that the presale will draw a large number of people and quickly sell out due to Intel Markets’ creative use of AI. Because of this, they have projected that before the year is over, INTL, the native token, which is now trading at $0.009, might soar to $0.11.
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