Beyond Celebrity Favor for Dogecoin (DOGE) and STEPN (GMT), an Unseen Crypto Contender Emerges for 2024

Beyond Celebrity Favor for Dogecoin (DOGE) and STEPN (GMT), an Unseen Crypto Contender Emerges for 2024

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The cryptocurrency market is no stranger to the power of celebrity shout-outs. Take Dogecoin (DOGE) for example – it was just a mere meme coin until big names like Elon Musk and Snoop Dogg jumped on the bandwagon. Suddenly, it wasn't so funny anymore when its price skyrocketed 10 times over in 2021. Fast forward to now, and DOGE has come back down to earth, losing about 89% of its peak value. But for those who love a bit of a gamble, it's still looking like a tempting deal, even at under $0.1. Similarly, STEPN (GMT) has been basking in the excitement generated by its latest collaboration with DJ Steve Aoki. Following the announcement GMT saw a nice boost in October, though it seems to be catching its breath a bit recently.

And when you have a legend like Usain Bolt backing you, you know you're doing something right. Step App (FITFI) is quickly making a name for itself in the move-to-earn (M2E) scene with its strong economy and some seriously good returns. This performance is not just in celebrity praise, but also in tangible market gains, outpacing a 15% monthly increase of Dogecoin (DOGE) and now eyeing the recent successes of STEPN (GMT). With a 23% growth this month, FITFI is the dark horse that might just have a few surprises up its sleeve for both its users and the broader market.

Step App (FITFI): Cash In with AI-driven Workouts

Imagine a world where your daily run or walk not only boosts your health, but also your virtual wallet. With Step App, your regular jog can net you anywhere from 5$ to 50$ per session! As the first move-to-earn application that empowered fitness with AI-assisted workouts, Step sets a new standard in the FitFi realm. Bolstered by its stable economy and lucrative ROI for users, the project caters to health enthusiasts and crypto fans alike, regardless of their experience with Web3. Injecting a burst of star-studded excitement, Step App basks in the glowing endorsements of legendary athletes like Usain Bolt, propelling its esteemed market reputation to even greater acclaim.

Transform Your Steps into Tangible Rewards with Step App

In Step, managing your earnings is effortless and subscriptions are available to further personalize your in-app experience and amplify rewards. Here, the magic lies in the FITFI and KCAL tokens – central to the app’s vibrant, contest-filled community and its continuous innovation, they hold potential for appreciation over time. Whether it's upgrading your workout gear with KCAL or unlocking exclusive features with FITFI, these tokens are ready to enhance your fitness journey. In the run-up of 2024, Step is gearing up to unveil even more exciting features and airdrops, ensuring that both the community and the value of its tokens keep thriving.

Source: TradingView

The Step App (FITFI) is presently at a pivotal point in its market trajectory, with its recent price hovering close to an imminent resistance threshold at $0.007027. Support lines are established at $0.003168 and $0.001231, offering a safeguard against possible downturns. Optimism is fueled by technical analyses: the 10-day SMA has marginally increased to $0.007366, suggesting sustained positive movement, while the 100-day SMA at $0.004574 reflects a favorable market sentiment. The MACD index at 0.000703, coupled with the RSI of 53.72, indicates robust, yet balanced investor interest. This positive outlook is further strengthened by the nearing conclusion of the FITFI public vesting on January 26, an event that could further propel bullish trends. If this momentum continues, forthcoming resistance levels at $0.008949 and a more challenging $0.012808 seem within reach, particularly considering the app's expected features and planned initiatives for 2024.

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Dogecoin (DOGE) Technical Analysis

Dogecoin (DOGE) is sitting in a pretty intriguing spot right now, playing a game of tug-of-war between the support level at $0.0722 and the resistance point at $0.0839. It's like DOGE is trying to decide whether to take the plunge or play it safe. The 10-day SMA is hovering around $0.0799, almost teasing the current price, while the 100-day SMA at $0.078 looks back at where Dogecoin (DOGE) has been hanging out these past few months. The MACD, sitting at a humble 0.0008, whispers hints of an uptick, and the RSI at 58.78 is like that friend who's optimistic, but not getting their hopes too high.

Source: TradingView

If DOGE decides to show off and leap over that $0.0839 resistance, we could be in for a treat. It could sprint all the way up to $0.089 and even beyond, to the $0.1007 target. This bullish dream isn't too far-fetched, especially with the trading volume pumping up to $856 million recently – a solid 8% jump. Coupled with an 8% price hike over the last week, this boost seems like Dogecoin (DOGE) has some cheerleaders rallying behind it. But to really kick it up a notch, the meme coin needs to break free from its current resistance and draw in more buyers to keep the party going.

Now, let's not get ahead of ourselves as there is always the chance that DOGE might take a step back. If it slips below $0.0722, we could see it sliding down towards $0.0656 and even lower, to $0.0539. The MACD isn't exactly shouting 'go big or go home', so there's a chance the bulls might not have enough steam. But considering that Dogecoin (DOGE) is still holding strong above $0.08 and boasts a hefty $11.4 billion market cap, a major nosedive seems a bit unlikely unless something major shakes up the market or throws a curveball specifically at DOGE.

STEPN (GMT) Technical Analysis

STEPN (GMT) is right now caught between its first support level at $0.259393 and the first resistance at $0.383513. The SMAs are throwing some mixed signals our way: the 10-day SMA at $0.281227 is just a touch above the current price and the 100-day SMA is almost whispering to it at $0.271312. It's a bit of a stand-off situation, with the market seemingly holding its breath to see what's next. The MACD Level at -0.006209 and the RSI at 37.94 are also playing it cool, suggesting that investors are in the wait-and-see mode.

Source: TradingView

Looking at the brighter side, GMT could really take off and punch through that first resistance level of $0.383513. The hype from its collaboration with DJ Steve Aoki has already given it a leg up. With a market cap of $375.5 million and a healthy circulation of 1.4 billion GMT tokens, any spark of buying interest could send it climbing up to the next resistances at $0.441237 and $0.565357. But, this rosy picture needs a continuation of the present momentum and maybe a little extra push from the broader market mood.

However, there's a flip side too: the recent 4% slide in the STEPN (GMT) price and an 8.5% drop in trading volume are signals that might point towards a downward trend. If this slowdown sticks around, GMT could find itself inching closer to its second support level at $0.192997 and to the third line of defense at $0.068877. It would need a significant shift in market dynamics to slide that far, but that's not out of the question. Now all eyes are on the excitement post-Aoki collaboration that either stays its power, or starts to fade.

Final Thoughts

In the world of crypto, where celebrity nods can send coins to the moon or back down to earth, it's all about the hype and the hope. Dogecoin (DOGE), once just a meme, soared with a little star power, but has since come down a bit. Meanwhile, STEPN (GMT) is riding the wave of its cool collab with DJ Steve Aoki, and Step App (FITFI) is mixing celebrity endorsements with solid performance, making a splash in the M2E scene. Looking forward, the big question is: what's next for these tokens? With DOGE and GMT, there's a hint of optimism, but the market's still playing hard to get. And as for FITFI, it's the new kid on the block with potential for much more surprising gains.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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