Stellar Price Prediction as XLM Pumps Up 15% – This is the next XLM target -TGN

The price of Stellar (XLM) is down 4.5% in the last 24 hours and is down to $0.148076 after a 1.5% decline for the cryptocurrency market as a whole.

Today’s fall in XLM mirrors that of XRP, with both altcoins correcting slightly after their rallies a week and a half ago.

Despite the drop today, XLM continues to rise 16% in a week and 63% in the last 30 days, with the altcoin also up just over 100% since the start of the year.

And when it completes its minor correction in the coming days, the cryptocurrency could easily see further gains, especially with Stellar’s continued expansion as a network.

Stellar Price Prediction as XLM Pumps Up 15% – This is the next XLM target

Stellar will likely need a little more time for the current correction to bottom out, given that indicators are still somewhat high.

For example, the 30-day moving average (yellow) is still slightly above the 200-day average (blue), with coins generally only recovering strongly after the short-term average has fallen below its longer-term counterpart.

Similarly, XLM’s Relative Strength Index (purple) has fallen below 50 over the past 24 hours and appears to be on course to move below 30 or fall, after which the altcoin may begin to recover.

It is possible that the support level (green) will not hold today, which could indicate further losses in the coming days.

However, it could be argued that such a correction was absolutely necessary and that when it is over, XLM will rise steadily again.

It benefited more than any other coin (besides XRP) from Ripple’s partial victory against the SEC, as it is also largely used for cross-border payments (much like XRP and Ripple).

This win has given Stellar more room to grow its business its latest quarterly statement finding that the total number of accounts on its network increased by 8% in the second quarter of 2023.

The report also revealed that it processed $419 million in transactions on its network and total business was up 21% year-over-year.

This indicates that a blockchain platform is growing, but now that the regulatory picture has improved for Steller, it could grow even faster in the future.

For this reason, traders can expect XLM to reach $0.18 again in the coming weeks and $0.25 in the coming months before a bull market in 2024 might take it to $0.40 or higher.

Diversify with Meme Tokens

It is possible that XLM will take some time to reach significantly new highs given that the rally over the past week and a half has lost momentum.

Therefore, some traders may prefer to expand their portfolios with newer altcoins that offer greater short-term profit potential, with presale tokens showing particular promise.

One of the newest such tokens to hit the market is Evil Pepe (EVILPEPE), an ERC-20 meme coin that went on sale last week.

It has raised more than $600,000 and has a goal of $1,996,002, with the presale still just under nine days to go.

With a total maximum supply of 6.66 billion, EVILPEPE aims to be a community-led meme token, reserving 90% of the supply for the pre-sale.

By giving control of 90% of its offering to investors and its wider community, EVILPEPE will protect itself from major dumps or pullbacks, something that can happen with certain presales.

At the same time, holders will be incentivized by their increased interest to invest more in the token and also support it more, thus growing the community.

This should help give EVILPEPE a longer lifespan than many other meme tokens, while also helping it go big once it appears on exchanges in the coming weeks.

Although time is limited, new investors can participate in the EVILPEPE sale by visiting the official Evil Pepe website and connecting their crypto wallet, where 1 EVILPEPE token costs $0.000333.

And if it follows in the footsteps of the PEPE token, EVILPEPE could easily soar well above $0.000333 once added to trading platforms.

Visit Evil Pepe now

Disclaimer: Crypto is a high risk asset class. This article is for informational purposes only and does not constitute investment advice. You can lose all your capital.