As Bitcoin (BTC) made history with a new all-time high on Tuesday, March 5, 2024, the price of Ethereum (ETH) was soaring above $3,800. Dogecoin (DOGE), the king of meme coins, also traded higher to reach a multi-year high of $0.2. However, both coins have declined sharply after BTC retreated from its new all-time high.
Despite this outlook, one crypto token that continues to appeal to investors is Bitbot (BITBOT).
ETH slips after price breaks to $3,800
ETH price has declined to around $3,685 as of writing. Yet, as analysts are pointing out, crypto remains bullish and Ethereum (ETH) will still eye the $4,000 mark after bulls pushed to highs of $3,800 on Tuesday.
According to analysts, the leading altcoin’s surge and successful close above $3,200 recently has impetus in bulls’ favour.
Apart from Bitcoin’s expected rally, key catalysts for Ethereum could be the upcoming Dencun upgrade (scheduled for March 13, 2024), the exploding DeFi space and potential spot Ethereum ETFs approval in May.
ETH price reached an all-time above $4,800 in November 2021.
DOGE falls after it reached $0.2 amid meme coin mania
Dogecoin (DOGE) price is changing hands around $0.17, down 4.3% in the past 24 hours. But before this slip, DOGE had skyrocketed more than 120% in the past two weeks to reach highs of $0.2. The meme coin last traded at these levels in December 2021.
In recent weeks, Dogecoin has benefited from the broader bullish sentiment seen with the BTC market.
After Bitcoin broke past the $60k level last week, altcoins picked up some upside momentum. However, meme coins exploded, with Solana-based Bonk and dogwifhat among outperformers. Floki also surged amid bullish investment news from DWF Labs while Pepe smashed higher as well.
Most tokens have fallen as BTC declined to around $65,000, including Dogecoin that may extend its retreat below $0.16.
However, should the sentiment around Bitcoin as suggested by the Fear & Greed Index, another run for meme coins will help DOGE soar towards the next hurdle around $0.3. DOGE’s all-time high is $0.73 reached on May 8, 2021.
Bitbot appeals to traders as presale gathers pace
Bitbot (BITBOT) is the world’s first non-custodial Telegram trading bot. The custom trading solution has gained huge traction in its presale as traders eye its secure trading environment.
Top of the list of reasons why Bitbot is emerging as the top choice for crypto traders is its focus on user security. While it brings the same institutional-grade tools that platforms such as Unibot and Banana Gun, this new Telegram-based trading app takes the issue of user safety to the next level.
It has partnered with top digital asset self-custody technology provider KnightSafe to ensure its users retain full control of their assets at all times. A user’s private keys remain with the user, who can trade with their cold wallets.
The team recently released a product update for the non-custodial wallet architecture, bringing the bot closer to public release. More on the product is available here.
Also notable is an upcoming demo, with more on this expected during scheduled AMAs.
What else does Bitbot offer?
So other than bringing institutional-grade trading tools to users, including automated trades, sniping and limit-orders, Bitbot achieves another key goal: it democratizes access to opportunities. With Bitbot, a trader can leverage AI trading, a gem scanner and real-time market data to make profitable trades.
The native BITBOT token will power the Bitbot ecosystem, providing for utility such as access to app’s revenue share, early presale access and other exclusive perks. The token will also offer governance rights, allowing the community to contribute to Bitbot’s long term development.
Ahead of its launch in the second quarter, the presale for BITBOT has attracted over $814k. The token currently sells for $0.0116 in stage 4.
To learn more about Bitbot, click here.
