Is There Long-Term Potential in Sub $0.2 Cryptos? $DOGE, $ZK, $KAS, $GRT, and $CFX Explored
Amid the crypto market’s turbulent waves, a pressing question arises: can tokens priced under $0.20, like $DOGE, $ZK, $KAS, $GRT, and $CFX, offer long-term potential despite the current downturn?
These assets have captured the interest of investors searching for hidden gems. Despite the recent market struggles, the allure of these inexpensive tokens remains strong.
Dogecoin (DOGE)
Dogecoin, the pioneer of meme coins, has been particularly volatile, with its price dropping steadily over the past two days. At press time, DOGE is valued at around $0.1108, reflecting a more than 7% decrease from the previous day. This fall has broken a crucial support level at $0.1142, which had held for two weeks.
Moreover, DOGE is trading below its 20-day and 50-day simple moving averages, signaling a short-term downward trend. Should this negative momentum persist, DOGE might find support at the $0.084 level. This situation could present an opportunity for investors to buy at a lower price, potentially reaping rewards as the market eventually stabilizes.
zkSync (ZK)
zkSync (ZK) is also facing a notable downturn, with its value at $0.1621 following a significant 9% drop. This decline has caused its market cap to shrink by 9.21% to $595.62 million, placing it at 100th in the crypto rankings. Should this negative trajectory persist, zkSync might reach support around $0.15.
However, despite the price decrease, zkSync’s 24-hour trading volume has jumped by 52.87% to $287.18M. This surge in activity indicates ongoing interest in the token, suggesting a potential recovery if market sentiment improves.
Kaspa (KAS)
Kaspa (KAS) On the other hand, Kaspa (KAS) has been in a bearish phase for five days, with its price approaching the crucial 20-day SMA. If it holds, this level could indicate a trend reversal. However, if Kaspa falls below this point, it may seek support around $0.154 at the 50-day SMA, where buyers might step in to prevent further losses. Currently, Kaspa is trading at $0.1655, marking a 3% decline over the past 24 hours.
Graph (GRT)
GRT’s value has been on a steady decline, now priced at $0.1839, marking an 8.36% drop over the past day. This decrease has caused GRT to dip below critical thresholds, shrinking its market cap to $1.756 billion.
Investors are vigilantly eyeing the $0.18 support zone, which could serve as a pivotal point for a potential bounce. Should GRT stay above this threshold, it might entice buyers hunting for bargains amid the bearish sentiment.
Conflux (CFX)
Similarly, Conflux (CFX) is not faring much better, with its value falling to $0.1448, down 12.61% in the last 24 hours. Moreover, its market cap has decreased to $611 million, and like others, CFX is currently struggling to stay above the $0.143 mark.
A breach below this level could trigger further declines as selling pressure mounts, targeting the next support around $0.100. If CFX can maintain this level, it may attract investors looking to capitalize on lower prices before any potential recovery.
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