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With over 23% downturn in the last week alone, it looks like Cardano is in trouble after months of green sentiment.
One of the biggest reasons behind this is the panic selling of ADA tokens that occurred after many analytic platforms predicted a BTC post-halving crash.
But if you're on the lookout for explosive profits, it's not all gloom in the market.
Right now, you can invest in altcoins such as Dogeverse ($DOGEVERSE), Slothana ($SLOTH), and Sponge V2 ($SPONGE) for a chance to skyrocket your portfolio by over 100x.
Let's go through the details and see why this is the case.
Cardano's ADA took a significant hit during the crypto market downturn on April 10. In the last seven days, we've seen the price plummet by over 23%.
The ongoing correction in ADA's price is part of a broader cycle that started in mid-March after the token reached a two-year high of around $0.81.
Two main factors contributed to Cardano's price crash.
Firstly, Bitcoin's inability to break through the critical $70,000 resistance level led to a wider market downturn, including Cardano. As the largest and most influential cryptocurrency, Bitcoin's performance often sets the tone for the rest of the market.
Secondly, some analysts predicted a potential crash in Bitcoin's price after the upcoming halving event, which spooked investors and triggered panic selling. While these predictions may or may not come true, the resulting fear and uncertainty reverberated through the markets, heavily impacting altcoins like Cardano.
With the recent sharp decline and the bearish trends influenced by Bitcoin's performance and overall market sentiment, the outlook for Cardano appears challenging in the short term. If the market continues to struggle, ADA could test new support levels below the recently breached $0.45 mark, with potential targets around $0.40 and $0.30.
But that doesn't mean you should give up on searching for tokens that could turn a profit in the current market. With tokens like ($DOGEVERSE), Slothana ($SLOTH), and Sponge V2 ($SPONGE), you could easily make 50-100x profits in the next few weeks.
Dogeverse ($DOGEVERSE) is the latest presale meme coin with a unique feature that sets it apart – the ability to buy it on six different blockchains, including Ethereum, Binance, Polygon, and Avalanche, with Base and Solana integration coming soon.
This multi-chain approach exposes the token to a vast community of meme coin enthusiasts and traders, broadening its reach and potential adoption.
Additionally, Dogeverse allows users to stake their tokens and earn a generous annual percentage yield (APY), providing an incentive for long-term holding.
The token's initial coin offering (ICO) recently launched, and within minutes, it had raised over $250,000, surpassing $6 million within two weeks. This remarkable investor interest showcases the token's potential for significant growth, particularly with the upcoming "Doge Day" on April 20th.
To create scarcity and increase demand, only 15% of the total token supply of 200 billion will be sold during the presale. Another 25% will be dedicated to marketing efforts, which could give Dogeverse massive exposure across all supported blockchains.
Slothana ($SLOTH) is an innovative meme coin project that has a unique approach to its presale, allowing investors to send $SOL tokens directly to a designated wallet address and receive $SLOTH tokens via airdrop in return.
Unlike traditional presale rounds, this method ensures that investors don't have to wait until the end of the event to receive their tokens, streamlining the entire process.
At its core, Slothana is a meme coin that embraces humor and laughter, featuring a sloth avatar that quits its 9-to-5 office job to enter the world of crypto trading and pursue financial freedom.
This lighthearted premise resonates with many, making $SLOTH an attractive investment opportunity. Currently, investors can receive 10,000 $SLOTH tokens for just 1 $SOL token during the presale phase.
With the potential for massive returns after the token lists on centralized exchanges, early investors have a chance to capitalize on this opportunity. Slothana's presale has already raised over $10 million.
To stay updated on the latest developments and updates from Slothana, follow their official social media channels, including X (formerly Twitter).
Sponge V2 is an eagerly anticipated upgrade to the wildly successful $SPONGE meme coin, which skyrocketed to a nearly $100 million market cap in the spring of 2023.
The team behind $SPONGE is determined to deliver another monumental 100x return with the V2 token, aiming for listings on top-tier crypto exchanges like Binance and OKX.
Currently, the only way to obtain Sponge V2 is by purchasing and staking the V1 token, which will be permanently locked in exchange for rewards in $SPONGE V2 tokens over the next 4 years.
This unique staking mechanism has already attracted nearly $8 million worth of staked $SPONGE from the project's dedicated community of over 11,500 holders.
As an added incentive, new investors in $SPONGE will receive a 100% purchase bonus in V2 tokens for a limited time. Stay tuned for updates on the V2 launch by following the project's official channels on X, Telegram, and Discord.
While top altcoins like Cardano face trouble amidst the upcoming Bitcoin halving event, investors have started looking elsewhere for profits.
And right now, they found an ideal alternative in presale tokens such as Dogeverse ($DOGEVERSE), Slothana ($SLOTH), and Sponge V2 ($SPONGE).
With fast-growing presales, strong communities, and robust features, it's no surprise so many analysts are backing these coins to explode.
Currently, you can still get in early and buy all of them for a fraction of what they'll be worth after they hit listings.
