Top Crypto Gainers on August 17 – Rocket Pool and Injective

Despite its novelty and unclear regulatory outlook, the crypto sector has gained massive traction. Many now research to spot a good investment opportunity.

However, this has kept the market volatility high. Today, August 17, the crypto market faces a strong bearish momentum that has taken gains from top coins. But a few coins stood out with impressive gains amid the steep volatility.

Rocket Pool, Injective, Chimpzee, and WSM are among today’s top gainers. Keep reading to learn the factors fueling their rallies amid the ongoing bearish trend.

Rocket Pool (RPL)

Today, RLP has witnessed a significant increase in its 24-hour trading volume, up 93%, as investors bag more RPL tokens. Data from TradingView reveals that RPL has been bearish since July 24. But today, it has shown recovery signs. RPL’s market price was $27 at 08:55 EST, making it record a price decline of less than 1% in the last 24 hours. 

This present value indicates a price loss of 5% from its value in the past two weeks. Also, because of the influence of the bears in the market before now, RPL’s price is down from 21.8% lower than its value over the past month.  

RPL’s Technical Outlook 

Rocket Pool/United States Dollar / Daily Chart \ Source: TradingView

The chart above shows RPL could regain momentum in the next few days. RPL is currently trading towards the upper band of the Bollinger indicator. This implies that the asset might reclaim its bullish momentum in less than three days unless otherwise. 

If the bulls maintain the buying pressure, the asset’s market price could go above the Bollinger indicator. Investors will be thrilled to buy more when this happens, which might take RPL to the $44 price level in the coming weeks. Again, the Relative Strength Index (RSI) is 40.58, approaching the oversold zone, indicating increased sell pressure.

Furthermore, the Moving Average Convergence/Divergence (MACD) is trading above the signal line with green histogram bars, confirming the bearish trend in the market. However, RPL could rebound if traders buy the dip once it enters the oversold zone in the next few hours.

Injective (INJ)

According to CoinMarketCap, INJ is gaining in its 24-hour trading volume with a price increase of 58.54%; this implies an increase in buying activity after a few days of bearish control.

Injective is an open-source layer-1 blockchain that empowers decentralized finance (DeFi) applications and fosters financial transactions within the DeFi sector.

The market value of INJ was $7.16 at 08:59 EST, reflecting a less than 1% price decrease in the last 24 hours.

This current price means that INJ is down 9% from its value in the past week and has fallen by 21% from its price in the past month.

However, the coin’s value is higher than recorded over one year by 263.8%, meaning that INJ is bullish in the long term.

INJ’s Technical Analysis

INJ/USD / Daily Chart \ Source: TradingView

The chart above shows that INJ trades below the 50-Day Simple Moving Average and above the 200-Day SMA, representing a long-term bearish trend. As the bulls could take control of the market today and force INJ above the 50-Day SMA in the next few days, the coin’s value might surge to the $9.5 price level in the next few weeks.

Moreover, the Relative Strength Index (RSI) is below the oversold zone and moving upwards. This means the coin may witness a trend reversal from the bearish state within a short time, in less than two days. However, the Moving Average Convergence Divergence (MACD) trades below the signal line with a faded red histogram bar.

This suggests that the asset is bearish and supports the signal from the 50-Day SMA, but its selling momentum is decreasing, as seen in the faded red histogram bar. There is a tendency that INJ will witness a bullish trend reversal before the day ends.

Chimpzee ($CHIMPZ)

Chimpzee is an eco-friendly crypto project created to conserve the human climate and preserve g wildlife. The project has three amazing reward systems that will enable all active participants in the project’s vision.

These include shop-to-earn, trade-to-earn, and play-to-earn features that allow users to earn rewards in crypto while participating in environmental conservation practices. 

Chimpzee has received immense support investment community, evident in its presale performance. It has raised more than $1.2 million in the presale session. This is a good sign that the token could perform well when listed n crypto exchanges.

The project is built on the Ethereum blockchain to enable it to undertake a burning mechanism that may help increase its market value in the future because of token scarcity.

This amazing feature make Chimpzee a deflationary crypto project, and the team promised that 1 billion $CHIMPZ tokens will be destroyed for every 200 thousand raised during the presale session.

According to the creators, out of the total token supply of 100 billion tokens, they plan to destroy about 10 billion tokens so that the total supply will be below 50 billion. Today it has raised over $1.2 million at the selling price of $0.00095 and is expected to end the presale in less than two days.

The team kept 10% of the total token supply aside for charity, 5% for community rewards, and 15% for marketing. Chimpzee also provides a zero-tolerance game, where users play games to entertain themselves and earn $CHIMPZ as a reward.

The project also offers sales of four Chimpzee NFT passports during the presale, which include Diamond, Silver, Gold, and Bronze. Investors who buy these NFTs will receive higher rewards and benefits. To be among the project’s beneficiaries, visit the presale websites, connect your wallet, and use ETH to purchase $CHIMPZ.

Wall Street Memes ($WSM)

Wall Street Memes is a crypto project in the meme sector. It is created out of excitement to celebrate the triumph of the internet over capitalism. Again, the creators also intend to celebrate a young man who challenged Wall Street in 2021 over the infamous GameStop failure.

The project’s live presale has gained milestones due to increased investor interest. The success of the project’s presale has triggered positive reactions among investors; many speculate that $WSM might be the next low-cap gem.

Today, it has raised over $24.7 million in the presale at the selling price of $0.0334 and heading to the presale benchmark of more than $25.9 million for the presale stage. The project has a total token supply of 2 billion; the team at Wall Street Memes allocated 30% for marketing to increase public awareness, which could increase its adoption. 

The more the token is adopted, the more the market value will increase, so investors willing to join the project can go to the presale website, connect a wallet, and use either BNB, ETH, USDT or a bank card to swap with $WSM. 

Conclusion

All the top-performing assets featured in this article have demonstrated an appreciable change in 24-hour trading volume. This means that more investors are buying them. So their market values could increase in the future.

However, traders should note that crypto assets are subject to high volatility. Therefore it is necessary to consider fundamental factors that can affect the price.