This week, both DOT and Render have declined by almost 10% due to persistent bearish pressure, prompting investors to consider newer tokens demonstrating strong performance.

However, the new presale token Raboo ($RABT) has been impressive in its presale with almost $2 million raised from over 2,500 token holders. Currently in stage 4 and about 60% increase from stage 1, Raboo’s upward trend in the memecoin ecosystem affirms it as one of the best cryptos to buy in 2024.

Polkadot faces steep decline amid bearish pressure

DOT  continues to face substantial bearish pressure, with its price plunging by 8.86% this week, dipping below critical support levels around $5.46. The Ichimoku Cloud analysis indicates a prevailing bearish sentiment, as DOT struggles beneath key resistance thresholds. Moreover, the RSI trending towards oversold territory signals potential for further declines for DOT, particularly if support at $5.46 fails to hold.

Currently trading at $5.69 at the time of writing, DOT is navigating several pivotal support and resistance levels, crucially capped by the recent resistance-turned-support level at $6.23. This level now poses a significant barrier for any recovery attempts, highlighting its importance in the current market sentiment. The funding rate, a metric reflecting market sentiment among traders, has oscillated but turned negative recently, reinforcing the bearish outlook and potentially triggering intensified selling pressure.

Looking forward, DOT’s trajectory remains unclear especially if broader market conditions worsen, such as if Bitcoin’s price drops to $60,000. Such a downturn could exacerbate bearish sentiment across the cryptocurrency space, potentially pushing DOT’s price below critical support towards $4.88.

Render plunges, investor sentiment sours amid persistent bearish pressure

Render has seen a significant 6.65% decline this week, reflecting a bearish trend in its price action. Despite this downturn, market sentiment remains cautiously optimistic, indicating potential for a turnaround. The recent trading volume has decreased by 52%, mirroring reduced activity amidst price volatility, while Render’s market cap has also dipped to $2.9 billion.

Since early June, Render has struggled to regain bullish momentum after starting the month at $10. Currently trading around $7.52, Render faces a critical resistance level at $9. There’s a pivotal support level at $7.2; a break below could lead to further declines towards $5.2. This price movement underscores challenges in achieving upward momentum despite intermittent attempts to break out.

Market indicators such as the MACD showing a negative -0.32 and RSI at a neutral 35 suggest a prevailing bearish sentiment in the short term for Render. However, with low exchange inflows indicating reduced selling pressure and a stronger investor confidence in long-term prospects, there’s potential for Render to reverse its current trend in the future.

Raboo sets sights on transformative growth as leading AI meme coin of 2024

Raboo, a new presale token leveraging cutting-edge technology, has affirmed its potentials for lucrative returns with a 60% increase since Stage 1 of the presale. Currently in Stage 4 with a low entry price of $0.0048, Raboo continues to gain momentum, underscoring crypto analysts’ recommendation that it is one of the best altcoins to invest in 2024.

With aspirations to cultivate a vibrant community of meme enthusiasts through its integration of social-fi and artificial intelligence technology, Raboo is on track to foster engagement and innovation within the meme coin ecosystem. The absence of buy and sell taxes further underscores its investor-friendly approach, promoting seamless participation in its growth.

Crypto analysts have predicted substantial gains for investors with initial forecasts suggesting a remarkable 233% increase during its presale phase and a staggering 100x rise on its launch day. These projections reflect confidence in Raboo’s potential to establish itself among the top 20 cryptocurrencies by market cap, supporting analysts’ predictions that it is one of the best cryptos to buy in 2024 .

With a smart contract audited by SOLIDProof, Raboo offers a secure platform where SocialFi, MemeFi, and blockchain converge. This convergence not only enhances the digital experience but also positions Raboo as one of the best altcoins to invest in 2024, promising an innovative journey for investors seeking growth and community engagement.

Conclusion

Both DOT and Render continue to face declining streaks, with prices dropping by almost 10% for both cryptocurrencies. In contrast, Raboo has shown promising performance, surging by 60% since its initial stage. Raboo offers investors a unique opportunity to participate in a cryptocurrency projected to achieve a 100x growth during its launch phase.

You can participate in the Raboo presale here:

Telegram: https://t.me/RabootokenPortal

Twitter: https://twitter.com/Raboo_Official

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.