Although Sui Network and Ripple Network are fundamentally distinct, they both share quite a number of similarities, some of which include strong community backing as well as their focus on decentralized finance (DeFi). Also, both top altcoins have remained in the spotlight over the past few months largely because of their exceptional price movement.
While this duo ranks among the best cryptos to buy for substantial ROI, a new Solana memecoin-– ChowWow ($CHOW) is also drawing enormous interest in the presale market. Notably, ChowWow integrates both Play-to-Earn and Stake-to-Earn models in an attempt to establish a unified meme-based ecosystem that is self-sustaining.Â
ChowWow’s Utility-Focused Approach Attracts Massive Interest
To begin with, ChowWow ($CHOW) draws inspiration from the popular ChowWow dog breed. As such, it embodies the canine breed’s majestic, loyal, and intelligent traits. While the ChowWow ecosystem aims to reflect these qualities, it aims to build trust with its users by adhering to all relevant regulations and compliance requirements.
This not only makes users feel safe but also highlights the platform’s commitment to transparency and accountability towards the community and stakeholders.
Meanwhile, ChowWow also stands out from its peers because of its utility-driven approach. The project integrates both Play-to-Earn and Stake-to-Earn features, thereby offering users multiple ways to earn. The stake-to-earn program particularly offers attractive returns, considering that users can earn up to 15% APY depending on network participation and duration of staking.
This unique combination of utility, community engagement, and a well-designed tokenomics model positions ChowWow coin for significant growth in the future.
Currently priced at $0.008 during the initial presale phase, the native $CHOW coin presents a unique opportunity for investors to get involved early in a project with strong growth potential. With positive market sentiment, this early stage offers a chance to be part of a promising meme coin venture.
Sui Price Rebounds Amidst Monthly Decline
Following a noticeable consolidation below the $3 resistance level, the Sui (SUI) price eventually regained bullish momentum and is now trading within a weekly price range of $3.20 and $3.23. This price retracement comes amidst a progressive monthly price decline that pushed SUI price from a monthly entry price above $5 to lower regions around $2.70.
Having made a quick recovery in the past few days, the SUI weekly price chart now reflects a roughly 1% increase. Although this didn’t make any significant difference in the monthly chart, which still reflects over 35% decline, it does suggest that the current price range may establish a solid support level moving forward.
Meanwhile, a closer look at the Sui token’s technical analysis suggests some bullish tendencies. Specifically, the SUI token’s 4H timeframe shows that the SUI price trajectory is forming a falling wedge pattern, which typically indicates a bullish reversal buildup. However, on the contrary, SUI price’s Moving Averages, including 20, 50, 100, and 200 day EMAs and SMAs points at a strong sell signal, which can invalidate the bullish projection.
Ripple Price At Risk of Extended Downtrend Amidst Consolidation
The price of Ripple (XRP) has been hovering within a consolidated price range of $2.41 and $2.42 in the past week. While it registered less than a 1% price gain during this period, the XRP price trajectory still reflects a generally bullish out. In the past year, despite being faced with a noticeable downtrend, XRP price still holds on to roughly 360% price gain.
This positive outlook explains the growing optimism among token holders and market analysts despite the fact that the top altcoin has lost over 30% of its value since peaking around $3.30 earlier this year. Meanwhile, this peak level was last tested roughly seven years ago, around the same time the top altcoin registered an all-time high of $3.84.
With only a 36% price gain to retest its ATH, there has been a resurging interest among community members. This also justifies the 88% vote of over 720K CMC community members in favor of a bullish trajectory. Besides, Ripple coin’s technical analysis, including its 100, and 200 EMAs and SMAs, points at a buy signal.Â
Can ChowWow Achieve Top Altcoin Status Like Ripple and Sui?
Although Ripple and Sui are both established altcoins, ChowWow also has what it takes to deliver enormous returns, especially for early backers. Its unique approach of combining the fun and communal nature of memecoins with the lucrativeness of a robust ecosystem sets it apart from its peers.
Not only will this allow the ChowWow ecosystem to achieve its goal of self-sustainability, but it will also help it rank alongside top altcoins like XRP and SUI in the long run.
