WIF’s Momentum Snatched By Dominating Meme Coin Raboo, As ETH Drowns Under $3,000

The cryptocurrency world, despite the several drastic moves by various coins, is still a world of opportunities but it can be difficult to identify. WIF is currently experiencing a decline and ETH is now trading below $3000. However, putting smiles on investors is the Raboo ($RABT) presale token, a new AI meme coin with lots of potential. Although it is still in its presale, investors predict Raboo to grow 233% during the presale, and 100x on launch day. Its integration of AI is one of its unique features as well as an opportunity to earn at its presale phase. Keep reading to find out more. 

WIF steady decline puts investors in doubt 

The price of WIF declined by 45.81% in the past week after it broke below the lower line of its ascending channel, which is seen as support. Falling below this level typically signifies a failure on the part of the bulls to hold the support stated. This condition suggests that the rising trend is slowing down and that selling pressure is intensifying. WIF’s daily trading volume rose last week despite the price decline. Santiment’s statistics indicate that throughout the previous seven days, trade volume increased by 127%.

How dominant the increasing selling behavior among meme coin holders is shown in the negative divergence between WIF’s price and trading volume. A rise in trading volume typically indicates that the market is short selling during price falls. Indicating yet another bearish trend for the meme coin, WIF’s weighted sentiment was in the negative at -0.19 at the time of writing. Considering all the negative signals, WIF is not currently on the list of top altcoin to invest in.

ETH struggles to stay above $2,700

Ethereum has had a sharp decrease, after falling below $3,000. ETH is currently trading at $2,445.39 and has gone down by 9.18% in the last day. The main cause of this steep decrease seems to be institutional investors selling off their ETH holdings. The daily chart of ETH/USD indicates a significant sell-off pattern. The asset has broken through several key support levels, including the 200 EMA, which often acts as a stable floor during downturns. The 50 EMA and the 100 EMA are two significant indicators that the price is consistently falling below and that also indicate a bearish trend.

The sell-off looks to be the result of a significant liquidation, as shown by the increase in ETH trading volume. Ethereum is oversold based on the RSI, which has plummeted to about 31 but this does not mean that a quick recovery is on the horizon. The use of exchange-traded funds (ETFs), by institutional investors in cryptocurrencies has grown in popularity. However, as the present market movement indicates, these investors’ massive sales could cause a significant disruption.

Raboo set to transform the meme coin industry 

Raboo ($RABT) presale token, an (Ethereum) ERC-20-based AI meme coin is set to revolutionize the meme coin industry with its unique blend of cutting-edge technology and artificial intelligence. As a result, it has been tipped as one of the top altcoins to invest in. Raboo is on pace to develop a lively and involved community, which further accelerates the use of the meme token. As a result, analysts are forecasting a 233% increase during the presale and a 100x increase on launch day, which has investors enthusiastic on Raboo.

Raboo has a Post-to-Earn platform which enables meme coin enthusiasts to monetize their social media account. SOLIDProof has evaluated the smart contract, guaranteeing its security and dependability. Raboo will be the focus of a significant marketing push, according to the initiative, which aims to establish it as the top meme coin by market capitalization. Additionally, there are exciting cryptocurrency prize draws and giveaways designed to improve token visibility and community engagement.

Conclusion  

Under watch in the crypto space are WIF, ETH and Raboo. While both WIF and ETH are currently trading red, investors are waiting for the right opportunity to jump back on. Raboo, however, has continued to present itself as a good investment opportunity. The project comes with lots of amazing features, including a chance to earn via social media. Its integration of AI has made several things possible, and again revealed great potential. It’s no surprise analysts predict a 10,000% surge once it is listed on major exchanges. 

You can participate in the Raboo presale here:

Telegram: https://t.me/RabootokenPortal    

Twitter: https://twitter.com/Raboo_Official 

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