Polkadot and ONDO Bleed As Raboo Celebrates $2M Presale Achievement

Polkadot's massive drop since March has continued to plunge its crypto coin price into deeper red, and DOT, with all its promises, is delivering below its potential.

Polkadot’s cryptocurrency, DOT, has continued its decline since March, with a 5.97% drop in the past week. This bear run for the Layer-0 giant is predicted to continue in Q3 2024. Analysts attribute this downtrend to DOT's network activity, which has seen an even steeper decline.

This massive drop in user demand in June led to a 15% month-over-month decline in active addresses and other parachains. In May-June 2024, as coin transfers on parachains increased by 10%, the market anticipated a bullish reversal for DOT.

However, this prediction proved false, as the effects of the June plunge are still impacting the cryptocurrency. To add to DOT's woes, its Relative Strength Index (RSI) stands at 42.32, indicating a potential bearish run in the coming weeks.

The RSI suggests that DOT tokens are getting sold more than being accumulated in the market. This observation paints a gloomy picture for the DOT ecosystem in the short term.

ONDO’s lending platform, Flux Finance, and its yield-generating stablecoin, USDY, have previously attracted investors and holders. Ondo's efforts to enhance access to crypto interest through stablecoin offerings and lending have earned it a reputation in the market.

But despite the recent interest in DeFi, the Ondo cryptocurrency has seen a 8.89% drop in the past week. According to analysts, Ondo's price charts have been showing a decline under a descending resistance since early June, culminating in a $0.86 low earlier this month. Ondo has broken down from the $0.95 horizontal area.

The bearish sentiment surrounding Ondo leaves its holders seeking better alternatives. Now, they’re on to the new market favorite, Raboo.

With $2 million raised in its presale so far, Raboo's entry into the crypto market has been well-received. The generative AI market is primed to hit $1.3 trillion in the next ten years, and $RABT holders are set to become some of the biggest beneficiaries of the industry.

Raboo's AI tool, Rabooscan, is programmed to collect memeable content, whether pictures or videos, posted by users and generate high-quality memes from them.

Users whose contents are selected will be rewarded with free $RABT tokens, ensuring there's more than enough for everyone! Raboo is currently in its presale phase, with an estimated 233% price uptrend during its presale and a 100x price jump after listing on major exchanges.

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