Monero crypto (XMR) faces challenges as XMR price continues moving sideways in chop, but will the Monerotopia event change Monero’s fortunes?
Over the past few weeks, the heightened volatility in the crypto market translated to massive gains for Bitcoin and other top altcoins. However, for Monero holders, prices have been chopping sideways, and they have been unable to shake off the weakness of the last few months.
Admittedly, despite the wave of delisting from top exchanges, including Binance and XMR, the coin priming the privacy-focused blockchain remains liquid and, as expected, quite volatile.
Monero Wavy But Wave of Delisting May Push XMR Lower
From the daily chart, XMR is trading at near 2024 highs of $182 printed in June, soaking off selling pressure due to the FUD following the delisting from major exchanges and regulators, especially in Europe, cracking down on privacy-centric coins, top of the list being Monero.
In early October, Kraken announced it was delisting XMR pairs with USDT, USD, Euro, and BTC. While all positions were closed out as of October 31, holders within this zone had until December 31 to withdraw or convert them to BTC.
(XMRUSDT)
Technically, Monero is moving in a choppy sideways range, and buyers of Q2 2024 cannot thrust prices above $180. The local resistance is $170, printed in October, while support is $135, registered early last month.
However, should the coin find the necessary momentum, it would be a massive positive turn for the “persecuted” legacy chain.
Most importantly, a lift-off, aligning with the general performance of other coins, will boost confidence. Accordingly, it will encourage developers to launch DEXes through which XMR may find the much-needed liquidity.
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Focus On This High-Performing Alternative: Crypto All-Stars
In response to Monero’s woes, there has been a renewed focus on other alternatives. Specifically, traders have been shifting their attention to high-quality meme coins, the top of the list being Crypto All-Stars, a project whose presale is in progress.
With over $3.6 million raised, Crypto All-Stars capitalizes on the explosive interest in the meme coin scene.
In the current presale stage, STARS is trading for just $0.0015618, and you can buy any amount using ETH, USDT, and BNB.
According to Coingecko, the total market cap of all meme coins is over $110 billion, and it rallied steadily after Donald Trump’s win on November 6.
(Source)
The surge in market enthusiasm has proven advantageous for STARS, the utility meme coin. More investors are keen on joining Crypto All-Stars and using its unique staking solution, MemeVault.
MemeVault: Stake And Earn Rewards From Top Meme Coins
On MemeVault, holders of leading meme coins like Floki, Shiba Inu, Dogecoin, and Pepe can stake and earn STARS rewards.
This feature is possible because Crypto All-Stars uses the ERC-1155 standard. This multi-token standard allows multiple assets to be held in one unified platform, conveniently saving time that would otherwise be wasted navigating multiple staking protocols.
Since meme coins are inherently volatile, staking on MemeVault provides a hedge against undesired movements, especially when prices turn lower. Conversely, whenever prices rally, it is an opportunity to magnify gains.
What’s more? Presale investors who choose to stake STARS receive an impressive 456% yield, explaining why over 1.6 billion have been staked.
If Monero continues to drop, breaching key support levels, investors searching for value can double down on STARS.
Once the presale ends and STARS lists on multiple DEXes, it can easily glide, printing 10X.
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