Stellar Coin is Going to Zero as XLM Price Falls 3% And Crypto Whales are Accumulating This New Meme Coin Instead – Just 4 Days Left
The Stellar price has fallen by 0.5% in the past 24 hours, with its dip to $0.097024 coming as the cryptocurrency market as a whole falls by a similar percentage within the same time span.
XLM is now down by 3.5% in the past week but up by 14% in the last 30 days, with the altcoin also having gained by 36% since the beginning of the year.
Such movements come at a mixed period for Stellar, with its ecosystem recently celebrating the launch of the WisdomTree personal finance app, but with its network also looking as though it will increasingly face competition from the Federal Reserve's new instant-payment network, FedNow.
For this reason, traders looking for a less ambiguous investment may prefer coins that are positioned to witness strong gains in the near future, with Thug Life Token's (THUG) successful presale suggesting that it will rally big once it lists.
XLM's chart is in a relatively weak position at the moment, with its relative strength index (purple) struggling at just above 40, after spending yesterday very close to 30.
This suggests that the altcoin is being oversold at the moment and may not be strong enough to recover just yet, a perception also backed up by the token's 30-day moving average (yellow).
This indicator appears to be sloping down towards XLM's 200-day average (blue), meaning that further falls are likely to follow in the coming days.
As noted above, Stellar has seen positive and negative news in the past few weeks, with the BlackRock-backed WisdomTree launching its own personal finance app yesterday.
This is significant because the WisdomTree app – which lets users invest in crypto and more traditional assets – runs on the Stellar blockchain.
However, this launch hasn't had much of a positive impact on
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