Altcoins to Watch as Bitcoin Maintains Blockchain Dominance

December 19, 2024 01:12 AM AEDT | By Team Kalkine Media

Altcoins to Watch as Bitcoin Maintains Blockchain Dominance — Image source: Shutterstock

Rollblock (RBLK) Gains Traction with Whale Investments

Rollblock is emerging as an exciting opportunity for traders, particularly those looking to capitalize on the growing demand for decentralized gaming. The platform, built on an Ethereum-backed ecosystem, has successfully merged the best features of centralized and decentralized gaming, which has caught the attention of Bitcoin whale investors during its presale.

As Rollblock enters Stage 9 of its viral presale, the platform has attracted substantial investments, leading analysts to project a potential increase of up to 880% in the value of RBLK tokens by the time they are officially launched on the open market in 2025. Traders are drawn to Rollblock due to its commitment to trust and transparency, offering provably fair odds and ensuring secure, encrypted transactions through its blockchain-backed system.

In addition to its focus on security, Rollblock offers an appealing revenue-sharing model. Long-term liquidity providers within its ecosystem can earn weekly staking rewards, which are paid out through a buyback-and-burn mechanism. This structure could potentially create deflationary pressure on the RBLK token, increasing its scarcity and value over time.

Dogecoin (DOGE) Faces Declining Momentum

Once considered the market leader among meme coins, Dogecoin has recently experienced significant price declines, falling below a key support level of $0.40. The cryptocurrency's trading volume has decreased substantially, reflecting a drop in investor confidence despite Bitcoin's continued price rise.

Currently trading around $0.40, Dogecoin’s price action signals a bearish trend, with analysts observing a 3% drop over the past week. The recent decline in Dogecoin’s open interest suggests that short holders may be booking profits, with some possibly reallocating their positions to Bitcoin. If this downtrend continues, Dogecoin could face a potential drop to its S1 support level at $0.35, further adding to its bearish outlook.

Stellar (XLM) Shows Strong Upward Momentum

Stellar has gained significant traction, posting a remarkable 140.98% increase over the past 30 days, primarily fueled by Bitcoin's surge. Analysts believe this upward momentum is only the beginning, with some predicting further gains as the cryptocurrency enters 2025.

EGRAG CRYPTO, a prominent analyst, suggests that Stellar is currently mimicking its explosive price movement from 2020, when it surged by more than 3,100%. Given the current price action, there is a growing belief that Stellar could see a 360% rally, potentially reaching a target of $2.27 in early 2025.

Stellar’s volume has increased by 46.15% in recent weeks, signaling growing buyer interest. With the Relative Strength Index (RSI) still in a neutral zone, analysts believe there is significant room for further growth as Bitcoin maintains its strong position above $100,000.

As Bitcoin maintains its strong position in the market, altcoins like Rollblock (RBLK), Dogecoin (DOGE), and Stellar (XLM) are showing distinct trends. Rollblock continues to attract large whale investments, Dogecoin faces challenges as its price struggles, and Stellar is riding a wave of positive momentum. Each of these altcoins presents unique opportunities for market participants as the cryptocurrency landscape evolves.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.