Crypto News This Week: Raboo Presale Passes $1 Million Mark While Solana Slows and Bitcoin Price Hovers Near $60K | Coinspeaker

Crypto News This Week: Raboo Presale Passes $1 Million Mark While Solana Slows and Bitcoin Price Hovers Near $60K

May 3rd, 2024 at 9:54 am UTC · 3 min read

Crypto News This Week: Raboo Presale Passes $1 Million Mark While Solana Slows and Bitcoin Price Hovers Near $60K
Photo: Raboo

/Raboo/ – The crypto news cycle was dominated by Bitcoin’s plummeting below the long-held support of $60K on May 1st, indicating a weakening uptrend even as the much-touted halving had already taken place. This has caused a domino effect across crypto, with Solana price action among the casualties in the wake of destruction.

All is not gloom and doom, though – AI crypto and SocialFi meme coin Raboo has been one of the bright spots, with its presale drawing over $1 million as it enters stage 3 amid major interest. Read on for the full scoop on the latest crypto news, including how you can get in on the Raboo presale.

Raboo Presale Draws a Crowd

Raboo is making the rounds among crypto news outlets after the initial stages of its presale drew over $1 million in fresh investment. In stage 3, Raboo tokens are available at just $0.0042, representing a perfect entry opportunity for investors looking for a low-cap gem with all the potential to go on a parabolic run in 2024.

The excitement surrounding Raboo is palpable, considering its unique take on the traditional meme coin format. Raboo combines elements of AI and SocialFi, rewarding users for creating and distributing memes on the Raboo platform. With its post-to-earn format, Raboo users who participate in the initiative not only earn but also help grow the Raboo community.

Solana Price Action Takes a Major Correction

Solana price action took a turn for the worse after Bitcoin’s dump below $56K, setting crypto news headlines alight. After capping its meteoric run spanning back from January 2023 to scale the heights of $209 in mid-March, Solana price predictions took a tumble all the way down to $120 on May 1st.

SOL holders are hoping that Solana price support holds up at $116; otherwise, prices could plunge all the way down to $100. Solana bulls need to pick up the price action back up to the $140 range for any hope of a comeback – and fast.

Bitcoin Prices Slip below Long-held Support at $60K despite Halving

As seen in succeeding years, Bitcoin halvings are usually associated with major bull runs. This phenomenon has been observed in previous halvings in 2016 and 2020, which saw Bitcoin mint all-time highs in 2017 and 2021, respectively.

However, Bitcoin prices took a massive spill, falling way below support at $60K, trading at $57K at press time. This halving event is different since Bitcoin minted a new all-time high before the event itself off the heels of inflows into spot Bitcoin ETFs. That action has slowed down to a trickle, with recent Hong Kong spot ETF launches turning out to be a dud for price action.

Raboo Emerges as a Top Investment Opportunity in 2024

Investor sentiment has careened after the tepid response to the release of Hong Kong spot Bitcoin and Ethereum ETFs and major outflows from US-based spot Bitcoin ETFs. But despite the downturn affecting Bitcoin and Solana prices, hope springs eternal in crypto. This is evidenced by Raboo’s presale, whose unique amalgamation of AI and SocialFi bodes well for its potential parabolic growth in 2024. Don’t sit this one out.

You can participate in the Raboo presale here.

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