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After showing a lasting consolidation below its recent ATH, the price of Bitcoin has embarked on another price rally. In the past week, Bitcoin has increased by over 5% hitting the crucial $70K price mark. However, now that Bitcoin is showing slight consolidation, it seems like Bitcoin will stall for a while before approaching the next price level. Meanwhile, investors in the altcoin market are also watchful for Ethereum coin as ETF approvals looms. Amid these dynamics, attention is also shifting to KangaMoon (KANG) meme coin, the Ethereum based token with a striking presale performance so far.
Summary
Bitcoin Price Hesitates to Spike Above $70K As It Stalls In a Consolidation
The price trajectory of Bitcoin (BTC) has always been a big deterrent to the wave of the cryptocurrency market. When Bitcoin’s price started another incline near its peak, the market was optimistic as they saw the likes of Ethereum, Solana, Jupiter and some other top altcoins tagging along.
While the positive sentiment is still strong, Bitcoin’s decreased momentum is leaving investors uncertain. After hitting $70K (it’s crucial resistance level), BTC price was thought to have picked up pace as another all-time high seemed very likely. However, following the recent consolidation back to the $68K to $69K range, Bitcoin might witness another lasting stall with the price stagnating around $70K.
KangaMoon (KANG) Announces CMC Listing, Earning a Spot Among Top Meme Coins
While securing upcoming listings on both Uniswap and BitMart, KangaMoon (KANG) has also announced its listing on Coingecko and CoinMarketCap. This has raised substantial attention towards the token as many onlookers from the altcoin market are eyeing the potential benefits of its SocialFi and GameFi ecosystem. As a result KangaMoon has been able to attract over 32,000 members to its platform with nearly 10,000 KANG token holders.
This amount of traction stems from its stimulating GameFi ecosystem. Notably, KangaMoon houses a gameplay platform called “Kangaverse” where users will be able to engage in battle-themed contests, speculative betting, as well as complete raid challenges for $KANG tokens and other valuable in-game items. So, the more you engage in these activities , the more you earn. With the $KANG tokens, players can also elevate their gaming experience by investing in in-game assets or character development.
Throughout six presale stages, KangaMoon has shocked the meme coin market with a 400% rise in the value of its token. To be clear, after launching in the presale market with an initial price of $0.005, $KANG price has now increased to $0.025, and is even projected to hit $0.5 in the third quarter or $1 before the end of this year. In addition to KangaMoon’s price surge, the presale revenue is a few thousands away from $7 million and is set to reach $7.5 million before the end of May.
Furthermore, given its commitment to community engagement and development, KangaMoon recently partnered with RaidSharkBot in order to amplify its community engagement and adoption rate. Likewise, it is currently granting its users free $KANG tokens as they share and comment on its promotional posts on social media. With more development underway, KangaMoon will end up disrupting the GameFi market, which is thought to be worth over $8856M by 2028.
Analysts Increase The Odds of Ethereum ETFs Approval From 25% to 75%
Not long ago, a Bloomberg analyst Eric Balchunas dropped a notice that the US SEC (Securities and Exchange Commission) might change its stance on an Ether spot ETF. This announcement has raised the odds of the ETFs being approved from 25% to 75%. As this invites optimism to other top altcoins, it also suggests a major regulatory change for Ethereum.
The approval of an Ether spot ETF would increase liquidity, market credibility, and investor access to Ethereum coin. It would also allow traditional investors to invest in Ethereum network without buying the cryptocurrency directly, boosting adoption and potentially raising Ethereum’s price and stability.
Is KangaMoon Capable of Topping Other Ethereum Meme Coins?
With increased utility, engagement models, gameplay and social media incentives, which the meme coin market has rarely seen, KangaMoon has more than enough potential to become the highest valued Ethereum meme coin this year.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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