Over the last few weeks, there has been a constant upward trend in the cryptocurrency market. As usual, Bitcoin has led the market surge, but Render Token (RNDR) has seen even greater gains, rising nearly to its all-time high.
Beam (BEAM), another altcoin, has drawn interest from investors due to its enormous increases. KangaMoon (KANG), which aims to fundamentally alter the meme coin space, is also discussed.
Render Token (RNDR) Nears All-Time High
Render Token (RNDR) has been one of the most impressive altcoins over the past few weeks. The price of the altcoin has more than doubled in the past 30 days. As a result, RNDR has increased to a yearly high above $7.89.
The token has benefited from recent high-profile partnerships, AI/generative content advancements, and Nvidia’s gaming chip dominance. Even technical analysis shows that Render Token still has room for growth.
Given its current momentum, the price of Render Token could rally to $8 before meeting major resistance. If bulls can push the price of RNDR above this level, then the altcoin price could make a run for its ATH of $8.78 set in November 2021.
Beam (BEAM) Gains Momentum Amidst Network Growth
Like RNDR, Beam (BEAM) has been one of the top altcoin gainers in the past few weeks. From a monthly low of $0.0880, the price of Beam has surged as high as $0.120. The altcoin price has been on the rise amidst significant growth on the network.
The total value locked (TVL) on the Beam network recently crossed the $1 million mark, as per data from DeFiLlama. The team behind Beam recently welcomed one of the first games to begin building on its network, Trial Xtreme.
The network is growing at a fast pace because Beam has combined and runs two blockchain protocols (LelantusMW and Mimblewimble). If the network growth continues, BEAM could see more gains in the coming weeks.
KangaMoon (KANG) Gains Momentum
KangaMoon (KANG) is a new DeFi project that has been shaking things up in the meme coin space. There has been growing attention around KANG as it seeks to solve the most common problem of meme coins – a lack of utility.
This new project addresses this issue using a novel concept known as Social-Fi, where users are rewarded for their participation within the ecosystem. The more a person’s social interaction in the KangaMoon ecosystem, the more their rewards will be.
The aim is for KangaMoon to be the most vibrant DeFi community in the world, connecting investors and meme enthusiasts in a single platform. This model looks to be paying off already. In just a week of its debut, KangaMoon has boarded over 2,000 new users into its ecosystem.
The KANG token has also benefited, increasing by 50% to trade at $0.0075 in its second resale stage. It is anticipated by market analysts that KANG will generate gains of up to 50 times in the 2024 bull market due to the DeFi project‘s quick acceptance.
Final Thoughts
The cryptocurrencies Render Token (RNDR), Beam (BEAM), and KangaMoon (KANG) are the three that have been causing a stir lately. As a result of its expanding network adoption, BEAM has been thriving while RNDR is about to surpass its ATH.
However, KangaMoon has surfaced and has the ability to change the course of meme coins in the future. Because of this, cryptocurrency analysts are extremely optimistic about KANG’s future and have dubbed it the meme coin of the year.
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