Polygon (MATIC) and Stellar Lumens (XLM) are two cryptocurrencies that have been experiencing trying times in recent days. Both have seen a decline in their trading prices, and bearish trends have left investors questioning the future of these altcoins in the market.
However, amidst these challenges, meme coins seem to be taking over, and the emergence of coins like the brand-new Ape Brigade (APES) may offer a glimmer of hope for these struggling cryptocurrencies.
Polygon’s Dive Reaches Record Low
Polygon (MATIC) has been on a steady uphill trend for some time now, but recently started witnessing a dip for the last few days and has now reached its lowest price since January.
On May 8th, MATIC witnessed a decline that caused a breakdown from its local support level of $0.94, indicating that the long-term upward movement may have ended. The market is being oversold could result in a minor pullback to stabilize the ongoing bearish momentum.
Meanwhile, meme coins have taken over the crypto market by storm, leaving investors questioning their holdings. The continuous demand for meme coins is not a good sign for the crypto market, according to Sandeep Nailwal, the co-founder of Polygon. At the time of writing, the trading price of MATIC is $0.87, with a decline of over 2.60% in the last 24 hours.
Bears Slow Down Stellar Lumen
The price of Stellar Lumen (XLM) against the US Dollar has entered a bearish zone after dropping below the $0.100 level. The XLM/USD pair has been trading below the support level of $0.095 and has even experienced a dip below the $0.090 level before forming a low of $0.0896.
On the upside, the price is facing resistance near the $0.0922 mark. A breakout above the $0.095 zone might push the price toward the $0.0980 or even the $0.1050 mark. Losses could lead the price towards $0.0850 or even retesting $0.0820.
Ape Brigade Jumps to the Rescue
Now seems to be the perfect time for the entry of a brand-new cryptocurrency, and by the looks of it, it might be the next big thing on the market. Ape Brigade (APES) is an up-and-coming simian meme coin that has much to offer for its community, but even more to offer to the world.
The coin is backed by a community that’s passionate about wild animals, especially apes. The aim is to raise support and efforts towards the protection of apes and other wildlife. 10% of the total supply is reserved for donating to charitable organizations that are dedicated to wildlife conservation.
There’s plenty in store for the Ape Brigade community. 20% of the supply will be locked in a liquidity pool, aiding the token in stability and liquidity. They also have an incentivized staking system in place, which allows users to win rewards if they stake APES. In fact, 15% of the total supply is saved exclusively for staking rewards.
Being an ERC-20 token, APES is technologically advanced. They also have an NFT Space under development, and it will be a crucial part of their ecosystem. It seems you just can’t go wrong with this meme coin; APES is not here to fool around!
Find out more about Ape Brigade (APES)
Website: https://apebrigade.io/
Twitter: https://twitter.com/_ApeBrigade_
Telegram: https://t.me/ApeBrigadeOfficial
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Source: https://coinpedia.org/press-release/trying-times-for-polygon-stellar-can-ape-brigade-save-the-day/