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After opening July at $4.50, TomiNet has continued to trade in the red, with things getting worse due to the recent 20% dump.
Is it time to look for better meme coin alternatives?
TomiNet Experiences Monthly Drop of More than 20%
Tominet dropped by more than 21% over the last month, according to the chart below from CoinMarketCap. The token’s market capitalization currently stands at $254.4 million, with a daily trading volume of close to $20,000.
At press time, Tominet is trading at a mere $3.89. While daily charts show some tailwinds, things aren’t looking better for this token.
The current trend shows a steep daily decline. While a surge of green candles indicates that bulls are trying to take control, TomiNet has not been able to get close to its previous week’s levels.
Currently, the RSi of the token is closer to the oversold zone, which indicates a negative sentiment around this asset is prevalent. MACD histogram is also pointing the current sentiment in a negative direction.
Three Memecoins That Are Better Alternatives
TomiNet bills itself as a project that aims to bring alternative internet to the fold. However, the token’s effort ever since reaching its all-time high has not been great. That brings us to the three memecoins alternatives that could be better investments.
Pepe Coin
Even though Pepe Coin is no longer the memecoin unicorn it was when it rallied and reached a $1 billion market cap, the current sideways trends may indicate that some pump action is on the way.
The symmetrical triangle pattern formed over the past few days can mean that a major upward breakout could happen.
Dogecoin
Ever since Dogecoin bottomed on 10th June 2023, it has been planning a rebound. The candle chart shows the token forming many peaks and valleys while following an upward trend.
Elon Musk’s latest Twitter antics have not done much for Dogecoin, but the community is still holding strong. A better investment now would be to look for intra-day lows, as these often are followed by some consolidation and a pump.
BTC20 – The Best Alternative to TomiNet
While the previous two alternatives have shown many positive signs, their performance still hinges on community sentiment. That makes buying and selling assets that are currently on exchanges one big gamble.
A better alternative would be to invest in presales that allow you to make guaranteed gains, thanks to their potential to pump once they go live on listing charts.
One such token that is currently available is BTC20. A “Bitcoin” for the Ethereum blockchain, BTC20 is treading the path of the early days of Bitcoin in an attempt to get investors the same level of gains as Bitcoin did.
Much like Bitcoin was available for $1 back in 2011, BTC20 is offering the first 3 million tokens in the first phase of the presale at the same valuation. For the next phase, the project plans to sell 3.05 million tokens at $1 each.
The remaining 14.95 million tokens will be locked inside a staking contract. Much like how mining allows investors to extract Bitcoin, staking will allow investors to earn BTC20 tokens. These unique stake-to-earn mechanics will allow users to mint BTC20 rewards from the staking contract over a period of 120 years. It follows the same philosophy of decentralization and trustless transaction that Bitcoin is all about.
🔹Welcome to the world of $BTC20 – The Revolutionary Staking Token 🚀💫
🌐A groundbreaking PoS #Crypto token built on #Ethereum!
🔥 We pay homage to the original #Bitcoin while introducing a passive income-staking mechanism that empowers our community of #Cryptoenthusiasts.💰 pic.twitter.com/gB18L4awfR
— BTC20 (@BTC20Token) July 18, 2023
This Ethereum-based green Bitcoin has already hit the ground running and raised upwards of $170k within 24 hours. Visit btc20.com to participate in this presale. For now, we recommend joining the official Telegram of the project to keep up with its updates.
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