Given the bearish sentiment surrounding Dogecoin (DOGE) and Ethereum (ETH), crypto enthusiasts are looking for more promising projects. Kangamoon (KANG) has emerged as one of the top alternatives as it introduces a gaming concept that has
- Dogecoin’s technical indicators are showing a bearish trend.
- Ethereum has dropped below the $1,600 level.
- Kangamoon is gaining traction over it’s interesting new concept.
Dogecoin (DOGE) Continues To Suffer From Lack of Utility
The Dogecoin price has been on a roller coaster in the past few months depending hugely on social sentiment to grow. Currently, the meme coin is valued at $0.060881. Meanwhile, technical Indicators are pointing at more price drops for the meme coin
Firstly, the price of Dogecoin is trading below the 20, 50, 100, and 200-day daily moving averages. Additionally, Dogecoin’s RSI is dropping towards the oversold region and is at 31.02.
Meanwhile, several investors are tired of Dogecoin’s heavy dependence on Elon Musk and X. As a result, they are diversifying their portfolios into emerging tokens like Kangamoon that provide tangible utility.
Ethereum (ETH) Drops Below $1,600
Since dropping below the key critical level at $2,000, the Ethereum coin has been under strong bearish pressure. Currently, the leading altcoin is struggling to gain momentum for a move above $1,600 and $1,620.
Despite the recent bullish performance of the crypto market, the Ethereum price has dropped below $1,600 to trade at $1,590.20 on September 13. The altcoin is trading below $1,600 after giving in to bearish pressure. Moving forward, Ethereum will face resistance at the $1,595 level or the trend line.
Subsequently, the next resistances are at the $1,620 level, followed by $1,670. However, if the price of Ethereum falls deeper, it may initiate another downtrend. In this scenario, the initial support on the downside is located at the $1,565 level.
Why Kangamoon (KANG) Has Been Gaining Massive Attention
Amidst the prevailing bearish sentiment in the market, Kangamoon has managed to capture the attention of investors. Since the launch of Shiba Inu, there has been no meme coin with the potential to rival Dogecoin for market capitalization.
Kangamoon is here now with more utility and greater growth potential considering its link to the blockchain gaming industry. Kangamoon is setting out to bring practicality to the meme coin arena.
The project is making waves by introducing an exhilarating boxing gameplay experience within a virtual world. Players will assume the role of Kangamoon, an animated kangaroo in the virtual world.
As a play-to-earn (P2E) game, participants stand to earn rewards by engaging in fights and tournaments within this digital realm. This means meme coin enthusiasts can now earn tokens and rewards while competing with players on a global scale. Furthermore, as players develop their avatars, they have the chance to ascend to the pinnacle of the metaverse.
In terms of security, Kangamoon has already undergone a rigorous audit by SOLIDProof. Both of them have affirmed the platform is 100% safe. KANG tokens at the initial presale price of $0.005 per token.
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