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Just 42% of DOGE holders profit as SOL dips 70% from the peak. Whales now eye Algotech (ALGT) for portfolio rebalance.
According to statistics from Cryptorank, only 42% of Dogecoin (DOGE) owners are in profit, and the figure gets worse with Solana (SOL), which has been down over 70% from its all-time high.
Whales have started rebalancing their portfolios, and one name stands out amongst the cryptocurrencies they are buying- Algotech (ALGT).
Dogecoin’s road beyond hype
Dogecoin has always been a speculative asset. Despite having no solid fundamentals, white paper, and roadmap, it has appealed to different investors, as it takes the meme coin crown.
The value of Dogecoin has risen exponentially since its launch, but a time has come when investors are asking themselves what value it brings. This question and the answers that have been found have led to an outflow of investors from Doge into lesser-known names with solid fundamentals. Algotech (ALGT) is one of the biggest beneficiaries of this, as its presale hit $1.1 million in the first two days.
Solana’ pain point
While Dogecoin prides itself on being a meme coin with zero qualitative value but a ton of social appeal, Solana has a mixture of both. The cryptocurrency, created as an Ethereum (ETH) killer, has grown exponentially, becoming one of the top 10 coins by market cap.
Despite this growth, it has not scratched the surface of its goal – overtake Ethereum in terms of scalability. Occasional blockchain freezes also do not help its cause. Ethereum 2.0, despite its scalability issues, has proven to be a far better alternative to Solana. These issues push Solana whales to diversify some of their tokens into newer projects.
Algotech’s solid use cases
Across forums and chat groups, Solana and Dogecoin investors are brimming about a new cryptocurrency with a solid use case, a strong development team, and good sentiments.
Algotech (ALGT) is a decentralized algorithm trading platform that caters to the knowledge needs of new traders and the expertise needs of Adept ones. It uses automated and Algorithmic systems to ensure that emotional trading is reduced to the minimum while schematic and strategic trading booms.
Algotech is emerging at a time of rising demand for automated trading. With few competitors, it aims to cement itself as a market leader.
At the heart of the Algotech platform is its ALGT token. ALGT is an ERC-20 token that will be used for voting rights in future development. Based on the number of tokens held, dividends will also be shared, primarily from trading fees.
Algotech’s presale event broke a record and became the first cryptocurrency to get $1.1 million in the first two days of presale. After the four-stage presale event, analysts predict that the price of Algotech would have increased to $0.15 from its current $0.04. This 275% increase will mark the start of Algotech’s rise and see more attention from whales on other blockchain networks.
For more details about this project:
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