It’s been a tough few weeks for the crypto market, with Eos (EOS) and Dogecoin (DOGE) plunging in value. However, one coin that has been bucking the trend is Snowfall Protocol (SNW). In this article, we will discuss the current and future situation of Snowfall Protocol (SNW), Eos (EOS) and Dogecoin (DOGE).
Only 30% of indicators show bullish support for Eos (EOS)
As of September, the price of Eos (EOS) token had risen 126% from its June low to $1.86, a new all-time high. However, after the hard fork a few months later, Eos (EOS) failed to meet expectations. Eos’ (EOS) price hit a new low of $0.94 on October 13th, down 36% from its high 90 days prior. The price of Eos (EOS) token increased by 5% over the previous week, closing at $0.97 on December 8, 2022. Nonetheless, Eos (EOS) was trading 17% lower than it had the month before. Eos’ (EOS) decline could be due to the negative bearish sentiment as well as increasing competition from better tokens in the market. According to experts, the short-term outlook for Eos (EOS) was negative as only 30% indicators were bullish, while 70% showed bearish signals.
Dogecoin (DOGE) drops by over 50% in 2022
At present, the actions of regulators worldwide are a potential source of apprehension that is leading to a decline in the value of cryptocurrencies, especially Dogecoin (DOGE). Thus, the value of Dogecoin has plummeted significantly. In line with the rest of the cryptocurrency market, Dogecoin (DOGE) has seen its value drop by more than 90% from its all-time high in May 2021. Moreover, Dogecoin (DOGE) has dropped nearly 50% since the beginning of 2022. Even in the context of cryptocurrency markets, the price of Dogecoin (DOGE) can be extremely volatile because of the role social media communities play in driving both large price spikes and subsequent price crashes that garner widespread media attention. Following Musk’s takeover of Twitter, Dogecoin (DOGE) was initially trending positively. Dogecoin’s (DOGE) price subsequently soared to a high of $0.1572 in the beginning of November. However, Dogecoin (DOGE) soon tumbled to around $0.07665 by 21 November, following the collapse of the FTX exchange.
Snowfall Protocol (SNW) rises over 200% in a month
Snowfall Protocol (SNW) is one of the most efficient ecosystems for cross-chain transfers of fungible and non-fungible tokens. With the best tools that Snowfall Protocol (SNW) ecosystem has to offer, users can participate in any blockchain project of their choosing and potentially benefit from it.
The decentralized Snowfall Protocol (SNW) application enables users to transfer assets between chains that are either compatible or incompatible with EVM. The value of Snowfall Protocol (SNW) has increased by over 250% despite the fact that it hasn’t even launched. Snowfall Protocol (SNW) is currently trading at $0.095, which is significantly below its true market value. Snowfall Protocol (SNW) could grow further, according to some estimates, once it is released, according to experts.
Now is the time to act for those looking to take advantage of this phenom. With the roadmap for success and proof-of-stake methodology firmly in place, Snowfall Protocol (SNW) is sure to be a dominant force in the cryptocurrency space for years to come.
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Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.