Kangamoon Piques Investors’ Interest With New NFT Model, Dogecoin and THORChain Prices Fall
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After a brief price upswing, bulls and bears are now fighting to take control of the crypto market. Unfortunately, Dogecoin (DOGE) and THORChain (RUNE) are currently struggling with bearish pressure. But, Kangamoon has been a standout performer in the market, it has sparked investor interest in its new unique NFT model
Dogecoin (DOGE) Price Face Declines
Despite the cryptocurrency market being bullish for most of September, Dogecoin risks declines. The price of the meme coin has been trading under a descending trendline since October 2022. As a result, Dogecoin has dropped to the $0.0600 level.
$0.05900 is considered a critical support level. This is because, if the price of Dogecoin drops below, a major sell-off could happen. Crypto experts have predicted up to 50% price drop if this happens. However, there is hope for the meme coin.
Since August, Dogecoin has formed a double bottom above this critical support level. The double bottom hints at a possible price upswing for DOGE. In a bull market, the Dogecoin price could rally as high as $0.0700.
THORChain (RUNE) Fails To Repeat Bullish Performance
In August, the THORChain crypto was one of the best-performing assets. The price of RUNE increased by more than 100% within a week. However, since then, the THORChain coin has shown reduced price action.
The declining momentum of RUNE started after a rejection at the $2 resistance. In February, the THORChain price reacted at this level. The latest rejection at $2 means RUNE has now formed a double top on the weekly time frame.
While this is a bearish signal, crypto experts remain bullish about THORChain. This is because RUNE has also formed a bullish pennant above its descending channel on the daily timeframe. This hints that THORChain could make another attempt at breaking above $2 soon.
Kangamoon Piques Investors’ Interest With New NFT Model
Non-fungible token (NFT) is one of the biggest sectors in crypto. The technology has shown remarkable promise in the gaming industry. Kangamoon (KANG) is taking it to the next level with the launch of a new NFT model, Meme Non-Fungible Token (M’NFT).
These are digital arts that combine characteristics of both meme coins and gaming characters. Unique to the Kangamoon ecosystem these M’NFTs are used in the game (Kangaverse) to compete in fights and championship events.
In this exciting boxing virtual world, winning fights with these NFTs will earn players rewards, digital assets, and access to exclusive NFTs. These rewards can be sold in the ecosystem marketplace, allowing players to earn real cash from gaming.
The unique concept of Kangamoon has caught up with many gamers and investors. In anticipation of its fourth-quarter launch, they have predicted that the game could become a leading title in P2E gaming. Before then, Kangamoon is undergoing its presale where its utility token, KANG, trades for $0.005.