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SNEK – A Penny Coin With Big Potential? All You Need To Know

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

SNEK price
SNEK price

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SNEK is a meme coin on Cardano that aims to foster a chill and inclusive community. With a fair launch and a focus on high circulation and low emissions, SNEK seeks to unite Cardano communities and attract new users. The project emphasizes sustainability, inclusivity, and a symbiotic relationship with the broader DeFi ecosystem.

Experimentation, innovation, and community engagement are central to SNEK’s mission of ensuring transparency and entertainment for its holders.

SNEK Project Foundation

The Snek project is strengthening its foundation through various initiatives. Firstly, a new website is set to launch soon, serving as a central hub for the community. Additionally, farming rewards will be introduced on MinSwap/SundaeSwap for SNEK/ADA liquidity providers.

The SNEK Stake Pool will also see an increase in pledges, reaching 100K ADA. Moreover, the project implements active burn mechanisms, including swap, StakePool, and LP rewards.

These developments signify a solid foundation for the $SNEK project and position it for further growth.

The Snek project has a lineup of upcoming releases that have been communicated to the community. The launch of Snek Energy is scheduled, with its presale starting tomorrow. Furthermore, Discord roles will be introduced in early July, followed by the release of a game and a raffle in the early to mid-July timeframe.

An upgraded Swap is also planned for early August, bringing exciting developments for SNEK enthusiasts.

The team’s current focus revolves around three key priorities. Firstly, they aim to secure more listings on centralized exchanges (CEXs) to enhance the project’s accessibility and reach. Secondly, marketing and growth activations are prioritized to maintain high trading volume and expand the project’s user base.

Lastly, the team is actively seeking partnerships that offer substantial exposure to drive further growth. Notably, discussions are ongoing with, among others.

SNEK Ideas Actively Being Discussed

The Snek team, in collaboration with the community, is actively exploring potential ideas. One idea under consideration is sponsoring the upcoming Cardano Summit in Dubai, scheduled for November 2-4, 2023. Additionally, the team plans to submit a proposal for Project Catalyst Fund10 by InputOutputHK, with the deadline set for July 13.

These initiatives demonstrate the project’s commitment to community involvement and its ambition to contribute to the broader Cardano ecosystem.

Increased Buying Activity of $SNEK by Large ADA Wallets

The data from TapTools reveals that wallets holding 1 million or more ADA are actively purchasing the cryptocurrency SNEK. This indicates substantial interest from high-net-worth investors, commonly known as whales. They have shown a greater inclination towards acquiring SNEK than other tokens within the past 24 hours.

This notable buying activity by whales suggests a considerable level of confidence or intrigue in the potential of SNEK. Furthermore, it is an important indicator of the market, signaling that SNEK is gaining attention and receiving support from influential investors.

SNEK Price Analysis

SNEK Price
TradingView: SNEK 4-hour chart

The analysis of the four-hour chart for the SNEK/USD pair indicates that there has been a significant breakout from the previous consolidation range. It is important to note that the current candle has not yet closed, but if it does close above the purple area, it would confirm a bullish scenario.

The price is currently attempting to reach the 50% Fibonacci retracement level, which is calculated from the highest value on June 16 to the lowest value on June 28. Additionally, the Lower Exponential Moving Average (EMA) line (orange) has crossed above the Higher EMA line (green), indicating a strong bullish pressure in the market.

Furthermore, the Moving Average Convergence Divergence (MACD) histograms appear green above the zero line, and the Relative Strength Index (RSI) line has just crossed above the overbought line, further supporting the bullish signals.

The overall trend has now turned positive, and if there is a breakthrough above the 50% Fibonacci Retracement Level, it is likely to propel the prices further upward toward the 61% Fibonacci Retracement at 0.00052956.

According to Coinmarketcap, the SNEK token has a market capitalization of $33M, up by 17.12% today. Furthermore, the 24-hour trading volume of the coin is 115.79%, up from its previous day at $2M.

While SNEK might be penny crypto with big growth potential, another coin has the same potential.

SNEK Alternative

Source: Website

Ecoterra is on a mission to make recycling easier and combat global warming. They focus on raising awareness about recycling and motivating people to actively participate. Through their reward system, Recycle to Earn (R2E), users can earn passive income while positively impacting the environment.

Ecoterra offers several components to support its vision. The Recycle2Earn App allows users to earn Ecoterra rewards for their eco-friendly actions. Each recyclable item contributes to the accumulation of Ecoterra tokens.

The Carbon Offset Marketplace enables users to offset their carbon footprint using Ecoterra or other cryptocurrencies for carbon offsetting initiatives.

The Recycled Materials Marketplace facilitates the purchase of recycled plastic, glass, or aluminum materials, supporting sustainability efforts.

Ecoterra tokens have various utilities. They can be used in a dedicated marketplace to purchase sustainable products for everyday use. Users can also stake their tokens to earn passive income. Additionally, Ecoterra partners with tree-planting campaigns and green projects, allowing users to donate tokens and contribute to a greener future.

Education is a key aspect of Ecoterra’s approach. They conduct educational programs to raise awareness about climate change, inspiring the younger generation to take action. Users can donate tokens to fund these programs and help spread environmental consciousness.

Ecoterra’s innovative platform empowers individuals to make a difference while being rewarded. Ecoterra fosters a sustainable and inclusive community-driven token on the Cardano blockchain by combining incentives, marketplaces, and environmental initiatives.

Together, we can create a greener future with Ecoterra at the forefront.

Ecoterra Presale: Limited-Time Opportunity to Join the Sustainable Revolution

Ecoterra’s presale has garnered an impressive $5,812,343 in funds raised thus far. As the presale’s final stage is live, Ecoterra is expressing gratitude to its supporters by providing a generous 10% bonus in $ECOTERRA for every transaction.

However, interested participants should act swiftly, as the presale will conclude in the next 8 days. This limited-time opportunity allows individuals to be part of Ecoterra’s mission and secure their allocation of $ECOTERRA tokens before the presale ends.

Guide on how to buy ECOTERRA token here.

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