Wormhole (W) and Rollblock (RBLK) Surge as Solana (SOL) Falls To Its Lowest Point In Weeks

Analysts are observing a notable shift in profits from Solana-based memecoins to utility tokens like Wormhole (W) and Rollblock (RBLK). These altcoins have experienced a sharp rise, attracting investors seeking long-term value.

Solana (SOL) continued its downward spiral on Friday, hitting its lowest point in three weeks as a broader sell-off in the crypto market saw the fifth-largest cryptocurrency trading at $135.

The sell-off also affected Solana-based meme coins, with tokens like Dogwifhat (WIF) seeing three days of consecutive losses. Others, like Popcat (POPCAT), Cat in a Dogs World (MEW), and Book of MEME (BOME), also declined. According to CoinGecko, the market cap of all Solana meme coins fell by 7% to $7.8 billion.

Solana is now approaching the 50% Fibonacci retracement level, with its 200-day and 50-day Exponential Moving Averages close to forming a death cross. This bearish signal could trigger more selling, with the initial target being $121.65. If it breaks below this level, it would confirm the bearish trend and lead to further declines.

Meanwhile, Wormhole (W) traded at $0.3457, up over 13% in the past 7 days and reaching a high of 58% in the past month. However, the rally faced resistance from a descending trend line on the 4-hour chart.

Wormhole briefly rose above $0.3760 but lost support at this level, indicating a potential move towards $0.3205 in the coming hours if it fails to hold. This could lead to further declines to $0.28.

Alternatively, if buyers saw the current price as a good entry point, this bearish outlook could be invalidated. In that case, Wormhole might attempt to challenge the descending trend line once again. If it manages to cross this barrier, it could push beyond $0.3760 and aim for $0.4168.

Finally, Rollblock (RBLK) is a new crypto casino that has been gaining attention for months with its GambleFi solution. This platform combines a high-end casino experience with a Smart Contract-backed iGaming system that offers users the chance to earn passive income.

Recent growth projections for Rollblock are driven by its large player base and the vast potential of the $500 billion global gambling industry.

Unlike traditional online casinos, which often have lengthy registration processes and high conversion fees, Rollblock allows players to begin gaming immediately after signing up. Thanks to blockchain technology, they can use 20 different cryptocurrencies to play, providing fast, anonymous, and seamless access to thousands of the industry’s top games. Additionally, Rollblock offers generous deposit matches for new players and hosts a continuous array of events and giveaways.

What makes Rollblock particularly appealing to investors is its regulatory compliance. This lends stability and resilience to the platform, giving users confidence that it can outlast its competitors and contribute to building a decentralized finance (DeFi) community that generates passive income. Other offerings available to $RBLK holders include weekly revenue shares and attractive staking yields.

The platform has attracted thousands of investors and generated over $4,000,000 in funds. With the token now priced at $0.03, early owners have seen a 200% increase in their initial investment. Projections of a 100x price multiple for $RBLK indicate that the token could hit $1 before the end of 2024.

If the $RBLK presale maintains its current rate of player growth and retention, it is poised for significant expansion as players abandon their old online casinos for the next-generation experience offered by Rollblock.

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://presale.rollblock.io/

Socials: https://linktr.ee/rollblockcasino

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