Axie Infinity Price Corrects, Theta Trades Sideways, But Pomerdoge Remains Bullish

After the Grayscale win forced a market-wide rally, many cryptocurrencies have cooled off leading to a mixed sentiment in the market. In recent developments, while Axie Infinity (AXS) faces a price correction and Theta (THETA) maintains a sideways trend, Pomerdoge (POMD) continues its bullish momentum.

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Axie Infinity (AXS) Sees Price Correction

Following the crypto market’s resurgence on August 29th, the price of the Axie Infinity token experienced a substantial 4% rebound. This positive movement coincided with Grayscale’s recent victory in its legal battle against the US SEC.

Nonetheless, bearish forces have returned to the Axie Infinity market. This pressure has led to a downward swing that breached the crucial support level of $5. According to CoinMarketCap, the Axie Infinity price is valued at $4.85, a 2.36% price decline in the last 24 hours.

Meanwhile, whales are currently trying to spark a price surge above the $5 resistance. According to Santiment, whales have added 1.63 million tokens to their cumulative AXS balances between August 16 and August 30. If Axie Infinity bulls push past that resistance level, its price could hit $7.

Theta (THETA) Stuck in a Parallel Channel

The Theta network is a decentralized video streaming network. The Theta crypto allows users to watch video content while earning tokens. Despite its innovative concept, Theta’s price has displayed a consistent downward trajectory.

It has lost its January gains and it has been on a descending slope. As of today, the Theta token is valued at $0.636437, a 1.72% price drop over the last day. Currently, Theta is stuck in a parallel channel pattern.

Notably, the upper thresholds of this channel have consistently stopped any upward price movement. As a result, the prevailing bearish trend surrounding the Theta crypto price will persist until it breaks out of the channel.

Pomerdoge (POMD) To Rival Other Meme Coins

Amidst the price struggles faced by Theta and Axie Infinity, investors have discovered a more favorable investment option called Pomerdoge (POMD). Pomerdoge is an innovative P2E game protocol that aims to foster connection, networking, and competition among players.

The project aspires to establish a gaming platform (Pomergame), a marketplace (Pomerplace), and a collection of 7,777 unique NFTs exclusively accessible to early investors. Furthermore, these presale participants stand to receive a portion of the platform’s generated revenue based on their stakes.

Currently, analysts have forecasted that Pomerdoge will rival competitors like Dogecoin, Shiba Inu, and Pepe due to its wide utility. Pomerdoge holders can stake their tokens for passive income, and enjoy discounts and rewards.

Meanwhile, Pomerdoge is available for purchase at $0.01 and is expected to surge 17x in the coming months. Therefore, this is the right time to invest in a cryptocurrency that is poised for significant growth.

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