How are the Solana (SOL), Pepe (PEPE) and Crypto.com (CRO) coins performing on the crypto market? Below is an analysis of their prices and the latest news.
Analysis of Solana (SOL), Pepe (PEPE) and Crypto.com (CRO) cryptos
Recall that Solana, whose native crypto is SOL, is a public, open-source and decentralised blockchain platform that achieves consensus using a proof-of-stake algorithm along with a novel algorithm called proof-of-history.
Pepe Coin (PEPE), on the other hand, is one of the new meme cryptocurrencies to hit the market and is named after the famous character Pepe the Frog.
Finally, Crypto.com, whose native crypto is CRO, is a Singapore-based cryptocurrency exchange company.
Focus on the price of the Solana crypto: a comparison with Pepe and Crypto.com
The price of SOL is currently in an uptrend, having made a low of $16. Specifically, the uptrend for SOL started at the beginning of 2023, when the price rose from a low of $8 to a high of $27.
However, the move was corrected by the bears and the price fell by around 41%. Solana then began to form an ascending channel with higher and higher highs and lows.
However, the price action favours the bulls and it can be said that the $20 support is holding the price firmly in place. Solana’s volume has also increased recently.
Solana has also seen an increase in the total locked-in value due to the increase in DEX volume. After testing the highs of $26 on the 17th of April, the price of Solana has fallen by approximately 16.08% since then.
Solana’s price also received a rejection from the 200-day EMA as it reached the $26 level, and the 20.50 and 100-day EMAs go hand in hand with the price.
Finally, we see that payments giant Mastercard has recently agreed to work with Solana to create a shared infrastructure to enable reliable transactions between wallets and promote compliance with regulatory requirements, including the Financial Action Task Force’s travel rule.
Can Pepe (PEPE) go up more than 130%?
As we know, PEPE, the new crypto meme, has become popular after rising 1,500% in two weeks.
Moreover, the coin has entered the top 50 most expensive cryptocurrencies after its market value surpassed $1 billion in just a few weeks.
As such, analysts are expecting a race to the top for the meme coin if this trend continues.
Specifically, according to a widely followed crypto strategist known as Kaleo, Pepe could see significant growth if it follows the pattern of a technology stock that exploded during the Covid pandemic.
Kaleo took to Twitter to share his analysis, stating that Pepe’s recent market activity is similar to the price action of Zoom (ZM) in the early 2020s, when the tech stock soared more than 800% in less than 12 months.
He also pointed out that Zoom traded below diagonal resistance before its meteoric rise, and Pepe’s current market structure looks strikingly similar in the lower timeframe.
Indeed, Pepe has broken the previous diagonal barrier and is now trading at all-time highs. Kaleo estimates that it has room to rise before reaching $0.000007, the point at which it is likely to reverse course.
Pepe’s current value is around $0.00000296, so if it reaches Kaleo’s target price, it will rise by more than 130%. We just have to wait and see what happens.
Partnership between Crypto.come and Altura
Recently, Altura announced a strategic alliance with Crypto.com (Cronos) that will allow game developers to use Altura’s SDK and API to create cutting-edge Web3 games on the Cronos chain.
In addition, Altura’s intuitive NFT marketplace will act as a catalyst for mass appeal. As a result, innovative games launched on the Cronos chain will be able to reach a wider audience.
In addition, by using Altura’s APIs and SDKs, game developers can avoid Web3’s technical challenges, such as Solidity and blockchain node management.
The collaboration aims to shorten the development lifecycle by making it easier for developers to create, scale and monetise Web3 games.
Source: https://en.cryptonomist.ch/2023/05/08/crypto-news-solana-pepe-crypto-com-3/