XLM price prediction: Stellar surges 15%, next target revealed.

The Growing Potential of Stellar (XLM) in the Blockchain Industry

The price of Stellar (XLM) has experienced a slight decrease of 4.5% in the past 24 hours, falling to $0.148076. This correction follows a 1.5% decline in the overall cryptocurrency market. Nevertheless, XLM has made impressive gains, with a 16% increase in just one week and a remarkable 63% surge over the past 30 days. Since the beginning of the year, Stellar has risen by over 100%. Despite the recent correction, the ongoing expansion of the Stellar network suggests that the cryptocurrency could witness further gains in the near future.

Stellar’s Correction and the Potential for Future Gains

Stellar is currently undergoing a correction phase, and its indicators reflect this adjustment. The 30-day moving average, represented by the yellow line in the graphical chart above, remains higher than the 200-day average, indicated by the blue line. Historically, coins tend to rebound strongly after the shorter-term average falls below its longer-term counterpart. Additionally, XLM’s relative strength index (RSI), displayed in purple in the chart, has fallen below 50 and may potentially drop below 30 in the coming hours, suggesting a possible recovery for the altcoin.

However, this correction may continue if the support level, denoted by the green line, fails to sustain XLM’s price. Nevertheless, this correction is viewed as essential for the overall growth of the cryptocurrency. Stellar has greatly benefited from Ripple’s recent legal victory against the SEC, as both Stellar and Ripple are widely used for cross-border payments. This victory has provided Stellar with more room to expand its business. In the second quarter of 2023, the total number of accounts on the Stellar network increased by 8%, with $419 million in transactions processed.

These positive trends indicate a blockchain platform that is experiencing remarkable growth, especially considering the improved regulatory environment for Stellar. As a result, traders and investors can expect XLM to reach $0.18 within the next few weeks and potentially reach $0.25 in the next few months. Looking ahead to 2024, a bullish market could propel Stellar to $0.40 or even higher.

Diversifying with Meme Tokens

While Stellar holds great potential for future gains, some traders may prefer to diversify their portfolios by exploring alternative investment opportunities. Among the emerging altcoins, meme tokens have gained popularity due to their unique characteristics and potential for short-term gains. One such example is Evil Pepe (EVILPEPE), an ERC-20 meme coin that recently launched its presale.

Evil Pepe aims to be a community-led meme token, reserving 90% of its supply for the presale. By allocating a significant portion of its supply to investors and the wider community, Evil Pepe mitigates the risk of sudden sell-offs or rug pulls that sometimes occur during presales. At the same time, this distribution structure incentivizes token holders to invest more in the project, fostering community support and ultimately prolonging the token’s lifespan. Once Evil Pepe lists on exchanges in the coming weeks, this community-driven approach may contribute to a significant rally in its price.

To participate in the Evil Pepe presale, interested investors can visit the official Evil Pepe website and connect their crypto wallets. Each EVILPEPE token is priced at $0.000333. Similar meme tokens, like PEPE, have experienced substantial price increases upon listing on trading platforms, further highlighting the potential for short-term gains with Evil Pepe.

Conclusion

The blockchain industry continues to evolve and present new opportunities for investors and traders. Stellar, with its notable performance and ongoing network expansion, holds significant potential for further gains. Meanwhile, meme tokens like Evil Pepe offer an alternative investment option for those seeking diversification. However, it is essential to remember that the cryptocurrency market is highly volatile and requires careful consideration and risk management.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

XLM price prediction: Stellar surges 15%, next target revealed.