Avalanche Price Prediction: AVAX Slumps 3% As California Puts 42M Car Titles On Avalanche And This New Olympic Games Meme Coin Soars Towards $500k

The Avalanche worth slumped 3% within the final 24 hours to commerce at $26.36 as of 04:03 a.m. EST, with buying and selling quantity dropping 22% to $291 million.

This comes because the California Division of Motor Automobiles (DMV) digitized 42 million automobile titles on the Avalanche (AVAX) community as a part of steps taken to modernize the state’s title switch course of with software program growth.

The event, spearheaded by Oxhead Alpha, will permit customers to switch automobile titles in minutes while not having to go to an workplace or the weeks one needed to wait within the conventional system.

DMV’s implementation is simply an instance of how blockchain can carry advantages and handle giant databases within the public service sector.

Avalanche Worth May Surge Over The $28.08 Resistance

The Avalanche worth tumbled on July 23 from the $32 resistance to the $26.26 help stage, in response to knowledge from GeckoTerminal. AVAX has since been fluctuating in highs and lows, forming a falling wedge sample.

The worth decline has resulted within the worth dropping beneath each the 50-day and 200-day Easy Shifting Averages (SMAs), which now work because the instant resistance zones at $27.48 and $28.07.

Moreover, the Relative Energy Index (RSI) trades down in direction of the 30-oversold stage, at present at 34 and tumbling, which exhibits that sellers have taken management of the worth. The RSI additionally exhibits that the asset is undervalued, which can open up shopping for positions for traders.

If the promoting continues, the worth of Avalanche could drop additional, because the $24.84 zone acts because the instant help stage and a cushion towards downward strain.

Nevertheless, if the bulls capitalize on the falling wedge sample to stage a development reversal, the token could soar previous the $28.08 resistance (50-day SMA) and attain the present goal at $30.67, a 16% enhance from the present worth.

The 50-day SMA crosses above the 200-day SMA, forming a golden cross at $26.75, which can enhance the bullish prospects of the asset.

Furthermore, with the RSI exhibiting that the token is undervalued, traders could begin capitalizing on this to purchase the asset, pushing the token up.

Because the AVAX worth bulls seek for shopping for alerts to push the token up, different traders are speeding to purchase the brand new Olympic Video games-themed meme token The Meme Video games (MGMES), which has already amassed over $302K in its new presale.

The Meme Video games ICO Raises Over $302K

The Meme Video games is an modern and gamified meme token undertaking that brings well-liked crypto meme characters Dogecoin ($DOGE), Pepe ($PEPE), DogWifHat ($WIF), Brett ($BRETT) and Turbo ($TURBO) into competitors on the blockchain.

Such a novel idea rewards presale consumers with token bonuses for profitable occasions, which provides an thrilling aggressive component for traders within the undertaking.

CRYPTO BREAKING NEWS
The Meme Video games raises over $100K on opening day of presale. The Meme Video games presale raises over $100K in its first 24 hours, capturing consideration within the booming memecoin sector. #partnercontent test us out @ https://t.co/8dh137buUp pic.twitter.com/YwzyP2glE4

— InnovatekMobile (@Neome_com) July 17, 2024

Consumers of the token are allotted one of many 5 meme titans to race after becoming a member of the undertaking, and are given a 20% likelihood to win a 25% bonus on the unique funding.

Choosing a meme athlete takes place randomly and is verified by blockchain expertise, which ensures equity.

Token holders also can earn passively from the undertaking’s staking mechanism by shopping for and staking $MGMES for a formidable share yield (APY) of 760%.

In keeping with 99Bitcoins, a distinguished YouTube channel with over 706K subscribers, $MGMES may soar 100X after its launch.

You should purchase $MGMES tokens for $0.0091 every. However purchase quickly to lock in the most effective deal as a worth hike will are available lower than a day.

To affix the presale, purchase $MGMES from the official web site right here utilizing ETH, BNB, USDT, or a financial institution card. 

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