As the cryptocurrency market battles downside pain, several altcoins have dipped to levels where they present the greatest opportunity for upside returns. Analysts at Santiment have identified Storj (STORJ) and Synthetix (SNX) as two of these altcoins.
Elsewhere, there’s fresh interest in KangaMoon (KANG), a project whose presale shows increasing confidence from crypto investors.
Analysts spotlight buy opportunity for STORJ, SNX
As Bitcoin price fell to lows of $61k on Tuesday, a key metric suggested a number of altcoins are largely underbought and currently hover in the buy zone.
Analysts at market intelligence and analytics platform Santiment have pointed to its MVRV Opportunity & Danger Zone Model for this prediction.
According to Santiment, “projects with minimal returns compared to the rest of the sector have a higher probability of a more efficient rebound for those who are willing to ‘buy the dip’”. This is the outlook for tokens such as Bounce, Lido, OMG, Storj and Sythentix Network.
STORJ currently trades near $0.67, with an 8% gain in the past 24 hours. However, the altcoin’s price is down more than 23% in the past 24 hours and is 82% off its March 2021 all-time peak of $3.81.
SNX price is currently at $3.73, up nearly 5% in the past 24 hours. Like STORJ, Synthetix Network price is down over the past week.
CoinGecko data shows SNX/USD has declined more than 26% during this period and is down more than 87% since its all-time high of $28.53 reached in February 2021.
KangaMoon attracts as presale surpasses $2.2 million
KangaMoon (KANG) is currently one of the hottest projects in presale. The combination of meme culture, SocialFi and Play-to-Earn (P2E) elements has the community excited for what lies ahead.
In particular, its KangaMoon seeks to redefine the blockchain gaming sector by offering its community an earning opportunity right from its presale phase.
Rather than wait for the presale to conclude, this project has rolled out rewards for the community. One can earn as they play, interact and experience the KangaMoon ecosystem.
Specifically, KANG holders can earn more by competing in and completing weekly, monthly and quarterly challenges. This is what has put KangaMoon into the limelight, and one of the reasons the market sees it as one of the top DeFi ecosystem projects.
KANG outlook: Is now a good time to buy?
When the project launches, it will give KANG holders an exclusive chance to monetize their gaming time.
As such, there is a possibility that KangaMoon becomes a top GameFi token. It could also challenge meme coin leaders such as Dogecoin and Shiba Inu. Investors keen to get KANG ahead of its listing also target the early bird opportunity.
At its current stage 4 presale price of $0.014, KANG is still heavily discounted and attractive. More so, its value was at $0.005 in stage 1, suggesting paper gains of up to 180%. The presale is ongoing and the whitepaper highlights more about this project.
Interested? Get more details on the website.
