Cardano holders hold their breath as a crucial network upgrade approaches. While this development has investors worried, meme coins; Arbitrum and Raboo are making the rounds. So far, the Raboo’s token presale 2024 has become a hotbed of investor activity, surpassing a staggering $1.7 million in raised funds.
Here’s why:
Cardano Seeks Traction After Chang Hard Fork
Cardano (ADA) is experiencing a period of price volatility. While Cardano currently hovers around $0.38 —as of June 19, 2024, recent weeks have seen fluctuations that deviate from the general market trends. This price movement comes amidst significant news regarding Cardano’s upcoming “Chang” hard fork upgrade.
The highly anticipated “Chang” hard fork, expected later in 2024, is set to introduce a new chapter for Cardano. A key feature of this upgrade is the transfer of control over Cardano’s treasury, valued at over $681 million, to the community. This action represents a significant movement toward decentralization by giving its holders direct control over how monies are allocated for upcoming development initiatives.Input Output Global (IOG), the project’s development team, was formerly in charge of managing Cardano’s treasury.
However, the “Chang” hard fork will introduce a new Voltaire voting and treasury system. This system will allow Cardano holders to propose and vote on how the $681 million treasury should be spent, fostering a more community-driven approach to the project’s future development.
Arbitrum treads water after token unlock
For Arbitrum, the first quarter of 2024 presented a positive image. The coin’s price surged, peaking in mid-January, driven by growing user adoption and a thriving decentralized application (dApp) ecosystem. But in March, a much-anticipated token unlock event caused a significant storyline twist.
Over 1.1 billion Arbitrum tokens, representing nearly 87% of the total circulating supply at the time, were released into circulation. This massive unlock triggered concerns about potential sell-off pressure, leading to a price decline.
While the post-unlock period witnessed a dip, Arbitrum has exhibited some signs of recovery in recent months. As of June 19, 2024, Arbitrum sits at $0.8057, reflecting a slight decrease over the past week but a modest improvement in the last 24 hours, compared to its post-unlock lows. This relative stability suggests a potential period of consolidation, with investors cautiously evaluating the long-term impact of the token unlock.
Ai-backed meme coin generates excitement as Raboo Presale Surpasses $1.7 Million
Raboo’s current token presale has surpassed over $1.6 million, which signals a real interest in the AI-powered meme coin. While not quite the final stretch, Raboo’s presale is currently in Stage 4, offering an opportunity to join the project before the public launch.
With the token ($RABT) priced at an attractive $0.0048 from an initial entry price of $0.003, the project still maintains an attractive price for many investors. A keynote is that the presale price has already increased by 60% since its inception, making Stage 4 a good chance to get in before a potential price hike in the next stages.
The introduction of a new concept in its Post-to-Earn program is one that has had many users excited. This feature allows meme creators to monetize their social media content, turning their humor into revenue streams.
Thanks to this bold ambition, Raboo is now expected to compete with well-known meme coin titans like Dogecoin, Shiba Inu and Arbitrum.
Conclusion
Raboo has set its sights on becoming one of the top 20 cryptocurrencies by market cap — an achievement that would challenge other established meme coins. However, with the presale nearing its final stages, time is running out to join the Raboo revolution.
For those interested in learning more about Raboo and potentially participating in the final stages of the presale before it closes.
You can participate in the Raboo presale here.
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