Avalanche's (AVAX) Unexpected Surge Leaves Polkadot (DOT) in the Dust: What Happened?

Table of Contents

As the crypto ecosystem saw an impressive influx of capital, market liquidity surged to unprecedented heights, signaling a potential altcoin season on the horizon. According to data from analytics platform CryptoQuant, Bitcoin was the key driver of broader market growth.

While Bitcoin's pursuit of new highs captures the attention of many, the anticipation of an altcoin boom looms large. This surge is not just a byproduct of Bitcoin's influence; many altcoins are actively developing and enhancing their platforms. Ethereum, for example, is preparing for the Dencun upgrade, set to significantly improve transaction efficiency on layer-2 protocols. Smaller, yet dynamic players such as Avalanche (AVAX) are also gaining momentum, poised to challenge even top-ranked cryptocurrencies.

​However, not all altcoins are riding this wave of optimism. Polkadot (DOT), despite its potential, has encountered price corrections, diverging from the general market uptrend. This contrast within the altcoin space leaves investors and traders speculating on the next big mover in a market brimming with potential but also uncertainty.

Amidst this backdrop, ScapesMania (MANIA) carves out its niche post-TGE by joining PancakeSwap, a decentralized exchange on the Binance Smart Chain renowned for its vast user base and liquidity. MANIA's debut trading day was nothing short of impressive as its price demonstrated remarkable resilience and set the project apart from fleeting ICOs.

The introduction of a new crypto project is usually met with very cautious optimism. But when its numerous past sales and token generation event (TGE) are a huge success, it all seems like the first step on a path full of growth potential. ScapesMania, the groundbreaking casual gaming project, has a lot to show for its unstoppable hype. 

$MANIA has stepped into PancakeSwap, a decentralized exchange on the Binance Smart Chain network known for its extensive user base and liquidity. The debut trading day proved to be impressive. The token price demonstrated resilience, indicating robust tokenomics and promising prospects for the project. Unlike short-term ICOs, ScapesMania has proven itself to be a serious venture within a thriving market.

Just let the numbers speak for themselves: 

Holder count: 18.41K 

24-hour trading volume: $2.25M

Over 2,535 buys and 1,651 sells

ScapesMania also topped DEXTools' Hot Pairs list right away after its debut. 

This project started out with a presale event that garnered an incredible $6.125 million. The fact that it attracted over 60,000 followers across different social media networks and a vast number of holders is even more remarkable. This strong support and funding demonstrate how appealing and promising the project is to a wide audience. A real breakthrough might be just around the corner, so it would be a waste not to grab $MANIA tokens before they skyrocket.

The launch of liquidity pairings including MANIA/WBNB and MANIA/USDT marked the beginning of active trading. The demand from the community led to USDT becoming the main source of liquidity. 

Why get involved with ScapesMania now that it's listed? First, $MANIA tokenomics are balanced, with a cliff and vesting system helping maintain stability. Second, ScapesMania incentivizes community members through its staking program, rewarding commitment with extra tokens. Third, through DAO governance, community members can vote on ecosystem development decisions. Finally, ScapesMania continuously expands token utility, offering more benefits to $MANIA holders.

With a strong plan for promoting the project after listing, its success might keep up the record-breaking pace after its debut. The team's dedication to long-term development and prominence in the cryptocurrency industry is shown by their impressive marketing efforts — 75K+ average monthly traffic is no joke.

Additional upsides that may be the biggest deciding factors when it comes to growth are:

The project's smart contract has been approved by BlockSafu. Holders may rest certain that the project's infrastructure is reliable and up to par thanks to this endorsement.

Enthusiastic support from numerous notable crypto influencers. It lends legitimacy and affirms ScapesMania’s status as one of the promising new projects.

Experienced team.  Innovating and executing a project successfully requires a team of seasoned specialists. This project is in a strong position to overcome any obstacles and take advantage of opportunities.

Bright future. The project has come a long way, but it still has a long way to go. There are tentative plans to list on a centralized exchange (CEX), which will provide access to more markets and more liquidity.

Everything about ScapesMania was carefully designed to facilitate major growth potential. From successful, well-publicized sales to its advantageous alliances, seasoned staff, and strategic positioning in the casual gaming niche – it looks poised for big things.

Choosing ScapesMania right now, post-TGE, offers early access, exclusive benefits, diversification, lower competition within a dynamic niche, and, more importantly, a potentially perfectly-timed entry point for maximum growth. The coin's stable post-listing price and strong initial support, coupled with an influx of newcomers, indicate long-term confidence, so it might be the time to make your decision.

>>> Get $MANIA Now <<<

Avalanche (AVAX) recently rolled out the Durango upgrade, a big leap forward in its blockchain game. But that's not all – Avalanche (AVAX) also launched Teleporter to amp up network efficiency. These tech advancements boosted Avalanche's (AVAX) attractiveness for both coders and everyday users.

On the market front, AVAX experienced a remarkable rally, climbing to a recent high of $50.7 by mid-March 2024 after reaching a swing low of $8.46 in mid-October 2023. The smashing 599% uptick really highlights how the market's digging Avalanche's (AVAX) relentless growth and venture into fresh arenas. This includes their recent team-up with Nexon to weave the widely-played MMO game MapleStory into its framework.

Avalanche (AVAX) Technical Analysis

From a technical perspective, AVAX is currently navigating the markets between $42.94 and $52.41. This positioning reflects a steady market sentiment following the significant improvements brought by the Durango upgrade and the Teleporter tool.

Source: TradingView

The Exponential Moving Averages (EMA) for 10, 50, and 200 days are hovering closely around $48.73, $48.25, and $47.87, respectively, suggesting a stable trend in the short to medium term.

The Relative Strength Index (RSI) at 69.93 is edging towards the overbought territory, while the Stochastic %K points to heightened market enthusiasm at 92.05.

The Average Directional Index (ADX) at 27.1 indicates a growing trend strength, and the MACD level of 0.21 further corroborates the emerging bullish momentum.

Avalanche (AVAX) Price Forecast

In a bullish scenario, if Avalanche (AVAX) continues to capitalize on the positive market response to its latest upgrades and gaming partnerships, the price could potentially challenge the higher resistance levels, eyeing $55.73 and $65.2.

Conversely, in a bearish scenario, should the market sentiment waver or external factors influence a downturn, AVAX could retreat to its support levels. A pullback to $42.94 or further to $36.79 and even $27.32 cannot be ruled out, especially considering the volatile nature of the crypto market.

Polkadot (DOT) recently made headlines with the Polkadot Alpha Program that will reduce entry barriers to its ecosystem for blockchain developers. As the market anticipates the Agile Coretime release, which promises to streamline parachain project launches, Polkadot (DOT) continues to attract attention for its progressive approach.

Notably, DOT's value surged by 46% in the past month, buoyed by news like the latest token burn event. The burning of 431,370 DOT tokens, valued at approximately $3.7 million, introduced scarcity into the market, potentially bolstering DOT's price.

Polkadot (DOT) Technical Analysis

Technically, Polkadot (DOT) is positioned between its first support level at $10.14 and its first resistance level at $11.59.

Source: TradingView

The EMAs for 10 days, 50 days and 200 days are clustered closely together, near $10.7, indicating a relatively stable price trend in the short, medium, and long term.

The MACD at a level of 0.03 and the near-zero Momentum indicator point to a market in balance, weighing both bullish and bearish sentiments.

The RSI at 53.88 and Stochastic %K at 58.33 also suggest a neutral market momentum.

With the ADX at 31.85, the current trend appears to have some strength, but not overwhelmingly so.

Polkadot (DOT) Price Forecast

In a bullish scenario, if DOT continues to harness positive market sentiment, supported by the continued innovation and community engagement fostered by the Polkadot Alpha Program, a break above the first resistance level could see the token test the higher resistances at $12.15 and potentially $13.60.

On the flip side, a bearish outlook could emerge if Polkadot (DOT) fails to maintain its momentum, possibly retreating to the lower support levels of $9.25 or even $7.8. Such a decline might occur in the face of broader market corrections or shifts in investor sentiment.

Avalanche (AVAX) and Polkadot (DOT) are currently key players in the dynamically evolving crypto market. While AVAX is making significant strides, potentially positioning itself to enter the top 10 most capitalized digital currencies, DOT is facing some challenges, experiencing price corrections despite the bullish crypto market. Avalanche (AVAX) scoring touchdowns amidst Polkadot's (DOT) fumbles is a vivid illustration of how wildly fortunes can swing in the altcoin arena – highlighting just how unpredictable this crypto rollercoaster really is.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Investment Disclaimer