Following an uptrend that lasted only a few days, investors are beginning to exit their positions in Solana (SOL) and Dogecoin (DOGE) as both coins reverse due to rising negative volatility. Instead, they have turned to a new AI coin in the crypto market, which is set to achieve a 1,550% growth in the near future.
Here, we explain how the new AI coin is bullish while SOL and DOGE struggle with emerging bearish sentiments!
After attaining a seven-week high of $161.80 on September 29, 2024, SOL, the native token of Solana, recorded a 9% drop over the last two days. This fall reflects the broader altcoin market correction, with its capitalization, besides stablecoins, diving from around $800 million to $739 billion between September 25 and October 1.
Undeterred by this short-term reversal, Solana’s network activity has spiked notably in the past week, with a 10.4% price gain retained in the last 30 days. SOL maintains its position as the fourth-largest cryptocurrency by market capitalization and the third by total value locked (TVL).
Experts from asset manager VanEck hold a bullish view of SOL, forecasting a potential 120% surge in its current price to $330, with factors like growing institutional adoption to back this prognosis. Moreover, rising market activities and network growth hint at Solana reclaiming $180 soon, adding to the optimistic overview.
However, recent price drops have formed a cloud of uncertainty over SOL, exacerbated by the latest global uprisings. Notably, Solana’s SOL fell 0.52% in the last 24 hours to trade at $156.
Dogecoin’s DOGE crashed 18% from its recent high due to the crypto market slipping into a corrective mode. However, on-chain data suggests the bulls are not done with the meme coin.
Specifically, information from on-chain information provider Santiment shows that Dogecoin network activity just reached a seven-month high, and whale transactions reached a four-month high as well. With retail investors prancing after DOGE, these factors could spur another leg up for DOGE.
Technical data, however, points at bearish developments involving DOGE dropping to the lower region of the Bollinger band. This price action implies that DOGE risks falling to lower levels if selling pressure mounts.
Besides, DOGE’s initial failure to break through the upper layer of the band, coupled with scant buying activities, has created a bearish view of the asset. Currently, DOGE trades at $0.11, down 3.79% in the last 24 hours.
While Solana and Dogecoin exhibit bearishness, investors have found a better alternative in IntelMarkets, a new AI coin-making wave in the cryptocurrency sector. Although in its presale, IntelMarkets has drawn notable attention to the ongoing presale of its native token INTL as it prepares for a 1,550% price pump.
IntelMarkets is gaining traction as a perpetual contracts trading platform where futures traders can profit maximally from every trade. With up to 1,000x leverage available to trade their favorite asset pair, investors can have an opportunity to maximize the potential returns from the slightest price movements.
Moreover, the platform taps the powers of Ethereum and Solana to provide speed and cost efficiency, making it the best outlet for crypto transactions. Users will be able to trade several asset pairs and borrow liquidity to hedge their positions or capitalize on opportunities.
INTL recently entered Stage 3 of its ongoing presale at $0.027, delivering 200% gains to early investors. Experts predict the AI coin is set to achieve a 1,550% increase from its current price, indicating a rise to $0.45 once INTL launches and the altcoin season sets in.
Solana and Dogecoin investors are exiting their existing positions in SOL and DOGE to open a new one with the latest AI coin, IntelMarkets, due to its profit potential. This move describes the level of confidence they have in INTL’s future.
Moreover, experts believe it is one of the best altcoins to invest in today, further fueling their optimism over this coin. The presale supply is depleting fast. Join now!
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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