Ethereum Spikes Up Again, Crossing $3K. Why Is Raboo Soaring and Coq Inu Fading Away?

May 11, 2024
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2 min read

This is a Crypto Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

Ethereum's recent spike to $4,000 hit a hard correction that set Ether spiraling down to its current position at $3,029. Despite the SEC's delay in approving spot Ethereum ETFs, 200,000 newly created Ethereum addresses sparked a bullish resurgence for Ether as Coq Inu's previous momentum faded.

Ethereum ETFs and Coq Inu aside, Raboo is now predicted to be the next big crypto after raising over $1 million in its ongoing presale. Experts predict a 100x rally upon its launch.

Upcoming Ethereum ETFs set up Ether for a bullish resurgence

Ethereum registered its largest wallet growth record in a single day in over two years after reports of nearly 200,000 new addresses coming online. Ethereum’s growth also saw other crypto projects rally as excitement around a possible approval of Ethereum ETFs hit the headlines. Market analysts forecast an impending bullish resurgence given the recent growth of wallet addresses on Ethereum’s network. 

Granted, the value of Ether might have dipped below $3,200, and the delayed approval of Ethereum ETFs could have sparked some skepticism over Etherum’s performance. However, market indicators suggest the bearish pressure is slowing down.

Coq Inu loses its previous momentum with a 37% drop

Coq Inu (COQ), a community-run meme coin on the Avalanche network, quickly gained momentum during its launch in December 2023. Coq Inu expanded the range of animal-inspired meme coins with a hen-themed meme coin that was on track to become the next big crypto project. Right after its launch, Coq Inu soared by over 2,800%, accumulating a market capitalization of over $200 million and a daily trading volume of $46 million.

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However, given the highly speculative nature of memes coins, Coq Inu’s price dropped by over 60% from its all-time high, with a registered 37% drop in the last 30 days. Also, Coq Inu’s creators have disowned the project with a disclaimer on their site indicating that the meme coin has no intrinsic value. 

Raboo's presale gathers steam, priming $RABT as the next big crypto

Raboo is on track to become the next big crypto in the meme market with plans to establish a social-fi ecosystem that allows meme enthusiasts to earn from AI-generated memes. 

Raboo is shifting the narrative with a new AI meme coin that aims to foster a strong community of meme enthusiasts. Upon launch, Raboo's community members will enjoy the platform's post-to-earn system and earn rewards and giveaways from fun-filled meme-generating activities. 

Raboo’s total supply is 1.8 billion and out of this 1.134 billion $RABT tokens are secluded for the ongoing presale, which has already raised $1.2 million. With an expected bullish resurgence in the cards, Raboo has sparked in value to $0.0042 up from $0.003. 

Conclusion

Once approved by the SEC, Ethereum ETFs could spark another bullish rally that could rival the previous surge of meme coins like Coq Inu. Already, Raboo is emerging as the next big crypto project, with expert analysts predicting a 10,000% rally once $RABT launches on major exchanges.

You can participate in the Raboo presale here.

Telegram: https://t.me/RabootokenPortal

Twitter: https://twitter.com/Raboo_Official

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.
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This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.
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