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The recent bounce posted by the cryptocurrency market is nothing short of electric, with Shiba Inu (SHIB) leading the way after a stunning surge of 128%. Amidst the week filled with big news, one crypto manages to stand out, maybe not in the headlines, but certainly on the price charts by pricing its presale at $0.04 a coin: Kelexo (KLXO).
Now, let’s lead on these latest developments about Shiba Inu (SHIB), Kelexo (KLXO) and inquiries from Dogecoin (DOGE) and Ripple (XRP) bulls.
Shiba Inu (SHIB) Faces Selling Pressure
Amidst Market Correction but despite the meteoric rise, Shiba Inu (SHIB) was not immune, unlike the rest of the market, given that it had huge selling pressure on the prices slipping below the key support levels. Shiba Inu (SHIB) had first risen to such massive heights that it targeted the territory of $0.0001. However the bullish momentum has a difficult resistance with the bears, dropping the ground considerably. Whale transactions further provoked the market, moving tons of Shiba Inu (SHIB) tokens onto exchanges in what possibly could be indications of massive dumps.
Combined with the impact of Bitcoin (BTC) on market sentiment, these moves helped drive Shiba Inu (SHIB) down by 70%. That said, even with that, Shiba Inu (SHIB) has remained pretty resilient under these prevailing circumstances of trying to come back.
Dogecoin (DOGE) and Ripple (XRP) Bulls Assess Market Opportunities
Standing at an arm’s length away in the raging market, Dogecoin (DOGE) and Ripple (XRP) bulls are watching the price movements, which may eventually offer them the necessary growth opportunity. Dogecoin (DOGE) is currently reflected in a bullish momentum, where the continued long-standing support zones should help the meme coin push higher after rejection at the resistance levels.
With the breach of critical moving averages and the indicators signaling fierce buying pressure, it definitely adds credence to the bullish argument. On its part, Ripple (XRP) is consolidating without giving an exact direction, as, on the daily time frame, most indications show a likely correction ahead against the healthy upward move pointed by the signals on the weekly chart.
However, fundamental factors like the growth of networks, coupled with positive sentiment by some, may keep investors Ripple (XRP) bullish to some extent. Meanwhile, the legal battle with the SEC is nothing but a skirmish for granted extensions, changing the timeline of the case and, in turn, changing market sentiment.
Kelexo (KLXO) Presale Sparks Investor Interest
Kelexo (KLXO) shines as one of the promising tokens to purchase amidst such market turbulence. They offer the token at $0.04 a coin during the presale. Branded as a blockchain-based platform for lending cryptocurrency, Kelexo (KLXO) disrupts the norm by proposing a decentralized approach.
In this regard, Kelexo (KLXO) differs from the other premier privacy coins by focusing on active user involvement and commitment to transparency within the DeFi space. Other benefits for this group of investors include free advice on the management of the account and the opportunity to receive passive cashback and income. As Kelexo (KLXO) paves the way in pioneering new ways for financial inclusion, its presale is a great scope to be part of for exponential growth for investors.
Amidst the overall market vagaries, the value of Shiba Inu (SHIB) surging and the Kelexo (KLXO) presale with the inquiries from the Dogecoin (DOGE) and Ripple (XRP) bulls, the phenomena both are representative of the dynamic state of the cryptocurrency landscape. Each entity presents an opportunity and challenge of its own. An investor treads on this ever-changing market and the challenge of each entity is met with equal parts optimism and prescience.
Find out more about the Kelexo (KLXO) presale by visiting the website here.
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Serena James has worked as a writer for different media houses in the past. Currently, she is working as a fundamental writer for thecoinrepublic, covering decentralized finance. When she isn’t writing, she can be found skimming and scanning Twitter and other websites to produce mind blowing breaking stories.
