The last seven days have been hard on the top altcoins, as they have traded sideways in the wake of a meme coin surge and Ethereum's news. Solana (SOL) which is a close competitor of Ethereum. Is no different.
Toncoin (TON), on the other hand, is enjoying support from its whales and investors, even though short-term prospects seem bleak. Raboo (RABT) is a more consistent option, participation for short-term profits, as its presale has already delivered a 60% increase in token price.
The good thing is the meme coin is raring to go further.
Solana still hasn't recovered from its bearish struggles
One might have thought the Solana token would be back in the green already, especially as SOL's development has been one of the best so far. However, its 45% dip in trading volume at the start of last week has left it on the edges of investor interest.
Solana is currently about 3% behind on intraday trading, although it seems to be recovering from the bears' influences. This underlines the reduced interest in the blockchain and the aftermath of last week's Ethereum spike. With SOL deep in losses, the bulls are active again in their efforts to restore SOL's altcoin price.
Before the Ethereum ETF approval, Solana chased down the $190 resistance mark. During the week, SOL dipped as far as $160 before retesting resistance at $165. There's been some improvement to $167, but the bears are not giving up without a fight.
TON price: Whale accumulation might be paying off for TON
The TON price has shown some potential for long-term growth, and the whales are backing Toncoin for the long run. That's excellent news for the blockchain. Most crypto traders, on the other hand, are more interested in the short-term potential, and Toncoin has displayed significant weakness in its short-term time frames.
According to FX Leaders, some market metrics on Toncoin's charts suggest a bearish few weeks on the network. For instance, the Relative Strength Index and Money Flow Index are falling drastically, up to the point of creating a downward divergence with the TON price.
Despite a 5.9% rise in the past week, the below-par indicators point to poor buy pressure, a common sign of bearish trends. At any rate, Toncoin investments might be great for the whales, but many other traders are comfortable elsewhere.
And elsewhere, it is not so far-fetched Raboo has been at the centre of crypto talk for weeks now.
Raboo: Memes leveraging AI functionality
Meme tokens launch now and again, but none of them address the issues of substandard memes in the crypto-verse. Raboo won't be overlooking the poor state of memes, though–in fact, the meme coin is bringing in AI use cases to upgrade its meme quality.
Yes, you heard–read–that right! Like many crypto analysts, Raboo believes in the ability of generative AI to revive the meme sector. And why not? Bloomberg Intelligence quoted the generative AI market to grow to about $1.3 trillion by 2030. Even AI cryptos have been predicted to spike considerably this year, and Raboo wants a part of the market growth.
Apart from the potential growth, Raboo's generative AI will crawl through the internet, collecting only fresh content to form evergreen memes every day. It's an 'out with the old, in with the new' initiative on Raboo, and the users have a stake in it.
Conclusion
With Raboo's presale already in profits, crypto traders are attracted to the project already. The presale is in its fourth stage, and each token sells at $0.0048. Analysts set the presale ROI at approximately 233%, but there's more to gain from Raboo.
There's a chance for 100x gains once Raboo makes it to a top-tier exchange. So what are you waiting for?
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