BlockDAG-based cryptocurrency Kaspa (KAS) is exploding in a market-defying pump that has briefly seen KAS price feature as the only green gainer in the top 50 cryptocurrencies by market cap.
This comes amid growing bullish sentiment surrounding the promising coin.
Many market spectators suggest it could emerge as the successor to Bitcoin and Ethereum due to its impressive technology as it hits a new all-time high.
Well, kaspa just hit new ATH. 0.8$ per $kas imo is totally normal target.
— Vasil (@vasil_alyoshin) July 31, 2024
At the heart of this optimism is the unique BlockDAG blockchain, which effectively solves the blockchain trilemma – positioning Kaspa as a key currency to watch in the year ahead – having never traded in a bull market before and with an incredibly fair launch.
KAS Price Analysis: Will Kaspa Shoot Into Price Exploration After New ATH?
As price action reels from the fresh all-time high, Kaspa is currently trading at a market price of $0.20 (representing a 24-hour change of -0.58%).
This comes after a magnificent +18% bounce off the 20DMA over the past week held strong, fuelling KAS price to hit a new all-time high at $0.208.
On the tail-end of a dramatic push, especially a rally that has defied a wider -3% drawback across the cryptocurrency market, consolidation is now the name of the game.
Kaspa’s price now needs to stabilize and sustain this price level ahead of the next set-up, critically allowing the supportive structure of the 20DMA to play catch up and the RSI to cool off.
Indeed, a closer examination of the RSI indicator reveals significant overheating with a current reading of 71, suggesting that consolidation or even localized retracement could be on the cards.
A retracement move will likely be limited by nearby lower support at $0.1925-$0.195, limiting downside risk in the short time frame.
Furthermore, with community sentiment mirroring the excitement of a new all-time high, it seems likely a push-up into price exploration will occur in the coming weeks.
Upside targeting remains limited to $0.25 – although this still represents alluring growth for KAS bulls in Q3.
Pepe Unchained Could Still Outperform KASPA Amid $6.8M Raise
One of the hottest quickfire meme coin opportunities in the Q3 market appears to be Pepe Unchained (PEPU), after shooting up to a sensational $6.6m+ raised during a stunning presale.
Now entering its late stage, the PEPU presale is poised for an explosive launch on DEX markets in the coming weeks and months, with thousands of retail investors flocking to the Pepe ecosystem expansion.
Behind the hype is a pretty novel idea from a committed development team.
PEPU seeks to do for PEPE what Shibarium did for SHIB – the project is building a bespoke low-cost, high-speed layer-2 scaling solution to unchain PEPE from its ERC-20 nightmare.
After all, Frog Coins need a home chain, which is a huge opportunity in the meme coin space—especially with the fleeting Ethereum ETF hype.
You don’t want to miss this opportunity to learn more about PEPU and grab a stack of Pepe Unchained.
The post Kaspa Shines as Top Coin, Pepe Rival Hits $6.8 Million Milestone appeared first on Cryptonews.
Read More from Sam Cooling on cryptonews.com