According to recent observations in the market, whales have shown interest in three tokens – XRP (XRP), Polkadot (DOT), and Pomerdoge (POMD). They have been buying large quantities of these tokens in the past week. Does this signify a potential price rally? Let’s look at the price movements of these tokens.
Click Here To Find Out More About The Pomerdoge (POMD) Presale
XRP (XRP) Bearish Despite Bullish Forecast
As per on-chain data, whales are currently amassing large amounts of XRP tokens ahead of a potential bullish run. Meanwhile, crypto YouTuber and XRP analyst, Alex Cobb, is bullish on XRP.
He applied the Elliott Wave Theory to the XRP/USD monthly price chart, commonly used to analyze market cycles and forecast trends. Notably, Cobb spotted an explosive breakout between 2014 and 2015, which he believes could repeat in the period starting from 2018.
Consequently, his estimate points to a potential price target of $10. However, XRP is trading at $0.616734 today with a 24-hour trading volume of $953,445,167.44. This represents a 12.28% price decline in the past 7 days.
Polkadot (DOT) Still Trading in a Narrow Range
Polkadot has been trading in a tight range, fluctuating between $5.00 to $6.00 in the past month. Unfortunately, bulls have failed to push the price beyond this upper range and extend the rally despite multiple attempts. This situation underscores the prevailing dominance of sellers within the supply zone.
According to CoinMarketCap, Polkadot is trading at $4.99. This represents a 0.10% price decline in the last 24 hours and a 3.58% price decline in the past week. The token is currently trading below the 50-Day SMA ($5.15) and 200-Day SMA ($5.77).
Meanwhile, Polkadot’s RSI is currently rising and is at 45.66, which indicates that the DOT market is in a neutral position. On the upside, Polkadot faces resistance at $5.11, $5.16, and $5.20. On the downside, it has support levels at $5.03, $5.00, and$4.95.
Pomerdoge (POMD) Surges While Polkadot and XRP Drop
Pomerdoge (POMD), a newcomer in the play-to-earn gaming industry, has emerged as a formidable rival that will offer exciting features. Moreover, this peer-to-peer game strives to foster global participation, encouraging engagement and competition within an enjoyable environment.
Pomerdoge will provide players with a risk-free environment, thanks to thorough audits from SOLIDPorof and Cyberscope. Furthermore, the project has promised to lock teams’ tokens and liquidity to prevent a rug pull.
Pomerdoge stands out against meme coins like Dogecoin and Shiba Inu by offering more utility. It offers holders staking rewards, discounts, and access to rare NFTs. Interestingly, Pomerdoge is just in its presale phase and has gained huge momentum in the market. Investors are excited about the opportunity to earn a share of the game’s revenue.
Now in its first presale phase, POMD tokens are available at just $0.007, making it an affordable opportunity to buy in. As the demand for blockchain gaming expands, the prospect of Pomerdoge reaching $1 in 2023 becomes increasingly plausible. This makes it an exciting project to watch for investors and gamers alike.
Find out more about the Pomerdoge (POMD) Presale Today:
Website: https://pomerdoge.com/
Telegram Community: https://t.me/pomerdoge