Analysts Are Recommending This New Altcoin, Why Are Cardano and Ripple Not On The List?

The post Analysts Are Recommending This New Altcoin, Why Are Cardano and Ripple Not On The List? appeared first on Coinpedia Fintech News

Recent price movements have dampened the diversification appeal and opportunities seen within Cardano (ADA) and Ripple (XRP). ADA’s decline has pushed it down significantly, and it’s no longer recommended by analysts, while XRP’s initial bullish run suffered and is now in a correction phase. In contrast to this, KangaMoon (KANG) has emerged as a potential opportunity for any traders looking for growth, especially as it experienced a 400% price increase which warrants a closer look through its technical analysis and technology to truly understand the underlying factors for this surge.

To see why analysts are recommending this new altcoin as the best crypto investment, we will be taking an in-depth look at all it has to offer. 

Cardano Price Declines Significantly – Is Recovery Possible?

Cardano (ADA) was a good crypto to buy but is now heading in a downward pattern, and at this rate, risks losing far more value. While the ecosystem has upgraded, especially with Hydra, a project that can scale the network operating as a Layer-2 solution, the Cardano price has still gone downwards. 

The platform’s key highlights this month initially pushed its value forward, as information on  Hydra /commit API endpoint changes, alongside information on the Gummiworm L2 concept based on Hydra Head sparked major developer interest. Now however, the Cardano crypto is heading downwards with negative RSI and MACD data. According to the Cardano price prediction, the furthest point it can reach is $0.6313 by Q4, 2024. 

Ripple Price Struggles to Maintain Bullishness

Ripple (XRP) has made strides towards expanding its ecosystem as a means of appealing to more traders and spike in value. The recent partnership between Ripple and XRPL Labs with the DeRec Alliance is a significant development intended to push interest in the Ripple crypto further. 

The alliance also puts its focus on creating standardized protocols for digital asset recovery within Web3. Simplifying and expediting the recovery process, especially for non-crypto experts, could lead to wider adoption of blockchain technology and a potential increase in the Ripple price. Yet, based on the Ripple price prediction, it can reach $0.73 as its maximum point of value by the end of 2024. If Ripple does make this growth, it will become a good crypto to buy.

KangaMoon (KANG) Reaches Over 20,000 Members 

KangaMoon (KANG) has reached major milestones during its blockchain ICO, exceeding $6.7 million and attracting over 20,000 community members. This strong presale performance, coupled with a dedicated user base exceeding 6,000 KANG holders, underscores investor confidence in the project’s long-term viability and could result in the project raising over $8 million by the end of the month.

Furthermore, KangaMoon differentiates itself by prioritizing sustainable growth within the burgeoning Play-to-Earn (P2E) market. The native KANG crypto serves multiple purposes, as its the in-game currency, and the reward incentive. Players wield control over their characters, engaging in tournaments and battles to accumulate KANG and NFTs, which can later be sold in a dedicated marketplace to fuel an entire economy. 

Upcoming New Listing

#BitMart will list #KANG @Kangamoon_P2E soon!

Keep an eye on our socials for further announcements.

Share in the comments what you like about this project pic.twitter.com/YvT39QoKba

— BitMart (@BitMartExchange) May 15, 2024

The Social-Fi model also incentivizes social-media engagement by rewarding users with KANG tokens. The current Bonus Round in the presale offers the KANG token at $0.025, marking a 400% price increase from its starting value. At launch, analysts project a 100x price surge, especially once it launches on major exchanges in Q2, 2024, making it the best crypto investment.

Summary

Cardano’s focus on smart contracts and dApp development did initially put it at the top, and Ripple’s focus on the financial sector for cross-border transactions made it one of the largest in its niche. Despite this, they have both recently struggled to maintain an upward momentum, while KangaMoon has been surging. With its vast utility, and focus on the P2E market, it can be a game-changer and spike significantly at launch.

Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!

Website: https://Kangamoon.com/

Join Telegram Community: https://t.me/Kangamoonofficial