BABY
Many people think that PEPE coins will not rise to $1 because there are too many tokens circulating in the market. It is simply a fantasy to want 420 trillion tokens to rise to $420 trillion.
But think about it, in 2009, Bitcoin was only a few cents. 15 years later, it soared to $73,000 per coin. Why did it rise so high? Time is the biggest factor.
PEPE coin has a deflation mechanism that can destroy tokens at any time to increase the price. Every time a transaction is made, a little bit of tokens will be burned and removed from the system. Although this function is not yet online, imagine that the tokens that are burned are counted in trillions.
PEPE coin is a hot commodity in the cryptocurrency circle. The price fluctuates greatly and you can make a lot of money in a year. Unfortunately, many people still don’t understand what the deflation mechanism is. But it doesn’t matter, time will tell!
DOT
Polkadot leverages a unique layer-0 meta-protocol for scalability and flexibility. The project uses this protocol to process transactions in parallel on multiple chains. It also allows users to develop multiple custom blockchains that can be connected using the Substrate framework.
This shared, open-source multi-chain platform expands blockchain interoperability across multiple blockchains. It supports cross-chain transfers of assets and data, thereby facilitating the decentralized internet of blockchains known as Web3. In addition, Polkadot's superior upgradability enables users to automatically update their assets and data without forking.
Meanwhile, the token’s DAO has voted to create a bridge connecting the Polkadot and Cardano networks. This collaborative project aims to solve the interoperability issues prevalent in the cryptocurrency market. The announcement received a positive reaction from the Polkadot community.
Today, DOT is trading at $6.2, indicating a 1.2% increase in the past 24 hours. The coin’s 14-day RSI is 50.9, suggesting that it could move sideways. Moreover, it is trading above its 200-day simple moving average and has been trending up 20 out of the past 30 days.
XLM
Stellar’s recent performance shows signs of a price recovery after trading near this year’s all-time lows. The coin is trading at $0.092, reflecting a 2.5% gain over the past 24 hours. Given the recent positive trend in the cryptocurrency market, the coin may still ignore another sustained price increase.
Meanwhile, investor participation in Stellar has surged, suggesting that prices could soon rise. This positive sentiment is evident in the relative strength index (RSI), which recently jumped into overbought territory at 60 after spending an extended period in neutral territory around 50.
The coin has risen from its support level of $0.09 to currently trade at $0.9393, facing a critical resistance of $1.25. Overcoming this resistance could spark further appreciation in the value of the coin. This could establish higher support levels for XLM and potentially outperform other altcoins.
Furthermore, the upward trend in the RSI and the positive market trend are boosting confidence in the recovery of XLM. Moreover, the market’s positive funding rate (where long positions compensate short positions) reflects investors’ optimism about potential price increases. This suggests that bullish sentiment among investors is high and they are strategically positioning themselves at entry points in anticipation of an upward trajectory.
