Solana’s surge draws investors away from Shiba Inu to KangaMoon
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Shiba Inu struggles as KangaMoon rises and Solana surges, signaling a shift in meme coin momentum.
Shiba Inu (SHIB) has started to recover following a recent correction in February. The meme coin has seen consecutive price increases over the last two days, and its daily trading volume is also on the rise.
However, a new rival meme coin is gaining traction. KangaMoon has quickly caught the attention of experts in the defi space and is now attracting Solana (SOL) holders after hitting a major milestone.
Has Shiba Inu lost its momentum?
Despite introducing several new features to its ecosystem in 2023, Shiba Inu’s price struggles to gain traction. Over the last month, Shiba Inu’s price increased by just 3.58%, while projects like Solana have surged by over 20%. This lack of growth has damaged investors’ confidence and could cause Shiba Inu problems in 2024.
Shiba Inu’s price is up by 5% over the last week, and SHIB tokens are trading at $0.000009881. However, Shiba Inu remains one of the worst-performing meme coins. As a result, some investors are now choosing to buy newer projects such as KangaMoon.
Solana chases $120 resistance
Solana’s price is soaring after facing a major correction at the end of January. Its value is up 14% over the last month, with SOL increasing by 6% over the last 7 days alone. This has attracted bullish investors who believe Solana could pass its former $120 resistance.
At the time of writing, Solana was trading at $111.7. If Solana breaks its $120 resistance, experts predict that Solana could go as high as $130 in February.
KangaMoon (KANG) hits $150k milestone
While investors debate whether or not it’s a good time to buy Solana, KangaMoon (KANG) has hit another milestone during its presale. The project has now raised $150,000, and its native token, $KANG, is on track to hit a new all-time high within the next two weeks.
KangaMoon has caught the attention of crypto experts with its innovative social-fi approach. Unlike other meme coins, KangaMoon offers utility and several opportunities for investors to generate new revenue streams.
Over the next few years, KangaMoon plans to create the largest community for meme and crypto enthusiasts. KangaMoon will grant its community weekly, monthly, and quarterly rewards based on their engagement to achieve this ambitious goal. KangaMoon will also offer a P2E game where players can battle to earn additional rewards.
This exciting new meme coin is currently in the first phase of its presale. $KANG tokens are selling at $0.005, and will soon increase once stage one sells out. During its presale, KangaMoon will reward investors who actively promote the KangaMoon presale. Investors can earn additional $KANG tokens on top of what they buy, based on how much they share the project.
Can KangaMoon outperform Shiba Inu?
As it already offers greater utility than most meme coins, experts believe that KangaMoon could outperform most competitors. By the end of its presale, experts speculate that KangaMoon could offer returns of 220%, and this is likely to increase even further once KangaMoon is launched on major cryptocurrency exchanges.
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