BONK, BOME dump as ALGT presale soars over $5m with 23,000 holders
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BONK and BOME meme coins experience dramatic declines as Algotech’s presale surpasses $5 million with 23,000 holders.
Recently, BONK and BOME, two popular meme coins’ prices, have crashed dramatically, leading to a substantial erosion of value. As the Solana ecosystem struggles with this sudden decline of its memecoins, another player comes to the scene.
Algotech (ALGT), a decentralized algorithmic crypto trading platform, has captured the imagination of the crypto community, raising millions during its ongoing presale, and garnering an impressive number of holders.
BONK and BOME plunge amid major sell-off
The Solana network, renowned for its lively and amusing collection of meme coins, faced a major setback. BONK and BOME, witnessed substantial price drops recently, and led a well-known Solana wallet to sell off significant amounts of these two meme coins.
BONK, which gained popularity among crypto enthusiasts due to its playful branding and community-driven excitement, plunged by over 46% from its record high in March 2024. Currently traded at $0.000025 with a 24-hour trading volume of $447 million, BONK’s market capitalization is an impressive $1 billion.
However, its ranking on CoinMarketCap has fallen to #58. Despite attempts, BONK consistently failed to break through the resistance level of $0.000028. Additionally, on-chain indicators painted a bearish picture, with low social volume and negative weighted sentiment, suggesting traders were predominantly bearish.
Similarly, BOME, another Solana meme coin, also took a hit, falling by a staggering 58.8% from its peak in mid-March 2024. Despite a 24-hour trading volume of $230 million, BOME’s price currently hovers around $0.011555, reflecting the broader bearish sentiment surrounding meme coins.
The sudden and significant sell-offs of BONK and BOME raised concerns within the crypto community, fueling speculation. The decision by a prominent Solana wallet to offload substantial amounts of these assets led some to question whether certain individuals had access to information not available to the general public.
Algotech raises $5m in presale amid memecoin crisis
While the memecoin segment struggles with a crisis, another promising project on the horizon, Algotech, has taken the crypto space by storm. The Algotech presale, which swept the scene and raised $5 million, gained more than 23,000 holders.
Algotech is a decentralized crypto trading platform that uses algorithms. It aims to make trading and investing easier with advanced technology and automation. Algotech is currently in stage 3 of its presale, which is already 85% full. The project has attracted many investors looking for new solutions in the crypto market.
Some key features of the Algotech platform are its variety of algorithm strategies, strong technical base, advanced risk management, and use of machine learning and AI. These features make Algotech a leader in algorithmic trading.
Algotech’s $250,000 ALGT token giveaway sparks excitement
Algotech’s unique reward system is also driving its success. Investors get a share of the company’s profits based on how much they invest. For example, investors at the “Sea Urchins” level ($500,000) get 1% of profits. At the highest “The Kraken” level ($12,000,000), investors get 10% of profits. This reward system has attracted many users.
There is a total supply of 350,000,000 ALGT tokens on the ERC-20 network. The expected launch price is $0.15 per token. Algotech has big plans, like improving the platform, adding more assets, advanced trading tools, analytics, social trading, and community features.
In addition to its presale success, Algotech has launched a highly anticipated $250,000 giveaway, offering ten lucky winners the opportunity to receive $25,000 worth of ALGT tokens each. This promotion has further amplified the platform’s visibility and attracted a surge of participants eager to increase their chances of winning by completing various tasks and unlocking bonus entries.
Conclusion
The volatility and unpredictability of cryptocurrencies have been put into focus by recent happenings in BONK, BOME. Even as memecoins continue to delight their audiences with playful charm, Algotech signals a change towards advanced and more complex technological solutions in cryptocurrency.
As this sector continues its journey, investors and traders will most likely want to find platforms that offer them the ability to navigate the ever-changing crypto sphere with reliability, transparency, and features at the cutting edge.
To learn more about Algotech, visit the Algotech presale and join the Algotech community.
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