Ondo has sharply declined as whales sold a significant amount of tokens to offset losses. Avalanche has also plummeting amid a market downturn that saw assets liquidated. Meanwhile, a new presale token is gaining momentum with over $2 million raised.
Currently trending with a flash sale offering a doubled automatic stage bonus from 10% to 20% for a limited period, Raboo’s continued expansion underscores its potential as one of the top altcoins to watch in 2024.
What you'll learn 👉
Can whales save Ondo? Token declines by 16% amid selling pressure
Ondo recently experienced a sharp decline after whales’ offloading. This selling pressure has created a challenging environment for Ondo’s price. However, retail investors are holding firm, preventing a more significant drop.
Typically, whales stabilize the market during panic selling, but this time, retail investors are stepping up. Whales holding between 10 million and 100 million Ondo have sold off more than 132 million tokens. Their actions are likely aimed at securing gains or offsetting losses.
Retail investors, on the other hand, are focused on holding amidst optimism that Ondo might turn out to be one of the top cryptos to buy later on this year.
Despite the overall selling pressure, there was a brief surge in Ondo’s price when a crypto whale invested $5.7 million, pushing the price up by 9%. The market speculated that the whale might have insider knowledge, as the purchase price was above the anticipated fair range of $0.40 to $0.70.
However, with the token now trading 16% lower, questions remain about whether the whales can save Ondo from further decline.
Avalanche declines persist amid dwindling optimism for a bull run possible
The crypto market faced significant challenges recently, with $300 million worth of assets liquidated, contributing to a widespread decline in the prices of several tokens.
Avalanche, like other tokens, has seen a significant, reflecting broader financial market losses that recently impacted tech stocks listed on the S&P 500 index negatively. The underperformance of Ethereum ETFs added to the market’s woes.
Interestingly, the decline in Avalanche’s value has occurred despite increased network activity. The number of new addresses transacting Avalanche daily rose by 88%, and the creation of new addresses surged lately.
However, this surge in activity has not impacted Avalanche’s price as broader market sentiment remains negative. Avalanche remains stuck under $28 with bearish signals suggesting further declines if the support level is breached.
Raboo: The next top meme coin with massive profit potentials
Raboo is an innovative AI-driven meme coin designed to foster a vibrant community of meme enthusiasts through the integration of Social-Fi and cutting-edge technology.
Raboo ($RABT) presale token, which has been tipped as one of the top altcoins to watch, offers a unique Social-Fi model, enabling holders to earn extra tokens by participating in weekly, monthly, and quarterly challenges, as well as special giveaways, all while enjoying a 0% buy and sell tax.
Raboo’s ecosystem allows memecoin enthusiasts to monetize their social media content via the Post-to-Earn platform and interact with like-minded crypto investors. The smart contract has been audited by SOLIDProof, ensuring a secure and reliable platform.
To empower the community further, Raboo offers a staking program where $RABT holders can earn regular rewards, supporting the project’s long-term success. Additionally, an exclusive NFT launch for presale token holders will showcase the creative endeavors of the Raboo team, offering potential rewards and perks for NFT holders.
To enhance the token’s value, Raboo will host a burn event to reduce the token supply. The project is committed to broadening its reach by launching $RABT on various exchanges and decentralized exchanges (DEXs), making it accessible globally.
With over 3,000 token holders and more than $2 million raised, Raboo is currently running a flash sale, doubling the automatic stage bonus from 10% to 20% for a limited period, further incentivizing early investors.
Conclusion
Ondo has experienced a sharp decline recently, creating a challenging environment for the token’s price while Avalanche has also faced significant challenges, plummeting by 16% amid a broader market downturn. Also, Avalanche holders are now shifting to Raboo, enticed by forecasts of 10,000% ROI upon launch. This preposition has cemented Raboo’s place as one of the top cryptos to buy in 2024.
You can participate in the Raboo presale here.
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