It has been an auspicious week for the $12.5 billion market cap Layer 1 altcoin Avalanche ($AVAX).
The token has risen 16.5% over the last seven days to a new current price of $31.75, an increase of about 3% in the last 24 hours.
Late on Sunday night, Avalanche rose about 9% from a bottom of $30.16 to a peak of $32.89, but after the midnight the token began to pull back about 3.5%.
Still, that means $AVAX, which is the 12th largest by market cap, is outpacing the world’s favorite cryptocurrency, Bitcoin ($BTC) this week. Bitcoin rose a more modest 5.6% over the seven days, butw dropped 0.5% in the last 24 hours to trade at $66,998 as of this writing.
Avalanche Price Analysis
When we zoom out and look at Avalanche’s price action over the last three months, it’s clear the token has some catching up to do to get back above $40, a threshold it traded above during the market’s more prosperous stretches this year.
In fact, $AVAX’s 2024 high hit $60.39 on March 19, so its current level can be seen as a pullback of nearly 50%.
Still, the token has strong support above $20 this year, a threshold it hasn’t traded below throughout the year-to-date.
Rising resistance levels, indicated by the diagonal red line below, could indicate a comeback, but this will largely hinge on the success of market leaders Bitcoin and Ethereum, along with a positive regulatory climate in the run-up to, and beyond, the US Presidential elections in November.
Source: TradingViewClever Investments Beyond Avalanche and Other Layer 1s: WienerAI Pioneers Intelligent Meme Coins
While Avalanche’s price grew considerably over the last week, its gains are broadly in line with other high-market cap coins like Solana ($SOL), XRP ($XRP) and Dogecoin ($DOGE).
Those who are looking for the sorts of speculative rallies that defined crypto’s early days will likely have more joy checking out some of the latest presales.
One such offering, WienerAI ($WAI), is dubbed “the ChatGPT of crypto” and despite being less than a tenth of a penny, it has raised over $7.5 million in a presale that is due to end in eight days.
This new meme coin – a playful part-dachschund, part-wiener hybrid – also functions as a user-friendly trading chatbot that simplifies trading for traders of all levels.
Using it couldn’t be simpler, just open up its chatbot interface, similar to ChatGPT, and begin asking it any trading-related questions. For example: “what’s the best meme coin to invest in this summer?”
The bot will then find and analyze the best possible options. It even recommends the best decentralized exchanges (DEX) for executing these trades.
Forged with the power of AI!
Get ready for WienerAI! pic.twitter.com/83p1CAXY1A
— WienerAI (@WienerDogAI) July 21, 2024
Moreover, traders can execute trades directly from the chat interface at zero cost, making it even more convenient and cost-efficient for them.
In addition to these features, WienerAI provides MEV protection, which ensures that users are safe from price manipulation by trading bots.
Finally, for stakers, the token currently offers 145% APY. This makes it potentially a more profitable coin than alternative layer 1s like Avalanche and Solana.
WienerAI has undergone a full audit by SolidProof, confirming zero issues in its code, which gives investors added peace of mind
Join WienerAI’s growing community on X and Telegram to stay informed about the project’s latest updates and developments.
Buy now before the presale ends over on the official website.
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