The Wormhole price dropped 8% in the last 24 hours and 40% in the past week to trade at $0.99 as of 01:32 a.m. EST on trading volume that plunged 50% to $256 million.

Wormhole is rapidly changing into a ZK-enabled network for trustless transfers of data and value. The project does this through its partnership with AMD, which provides the necessary resources to increase processing speeds and cut transaction costs.

Wormhole x @AMD – Accelerating Wormhole ZK

Wormhole’s platform is rapidly evolving into a ZK-enabled network for trustless transfers of data & value.

AMD is providing enterprise grade hardware, as well as expertise to increase processing speeds and reduce transaction costs 🧵 pic.twitter.com/neNccsEBFI

— Wormhole (@wormhole) April 6, 2024

Wormhole Price Set For A Breakout From The Consolidation Channel

The Wormhole price registered an all-time high (ATH) of $1.66 just after launch. However, the bears seem to have taken charge of the price, as W is down 40% from that time.

For the last three days, W has been trading between the $1.1 and $0.91 level, indicating that there is some indecisiveness about the next move. However, the bulls seem to be pushing the price steadily. A break above the consolidation phase could mark the start of a new trend on the upside.

W is trading below the 50-day and 200-day Simple Moving Averages (SMA), coinciding with the price downtrend.

Additionally, the Relative Strength Index (RSI) is rebounding from the oversold levels, past the 50-midline level at 51, indicating intense buying pressure. If bulls break out above consolidation, RSI may hit 70, signaling increasing investor optimism.

The Moving Average Convergence Divergence (MACD) also shows signs of a bullish movement, with the moving average line (blue) crossing over the signal line (orange), representing a bullish crossover. A bullish crossover could encourage investors to buy, which could push the price to higher levels.

Wormhole Price Prediction

The Wormhole price analysis shows some level of indecisiveness in the market, but the bulls are looking to push the price above the consolidation channel, with the target set at $1.6, a push poised to cross the ATH.

The MACD and the RSI provide a bullish outlook for optimistic investors, who will look to push the price higher.

However, if the bears continue exerting more pressure, the W bulls could retreat to $0.85, acting as a significant support zone to push the price even higher.

Meanwhile, many investors are sending SOL to Slothana, a project currently making waves in the crypto community.

Slothana Secures Over $10 Million In Funding – Best Alternative To Buy Now?

Slothana (SLOTH), a sloth-themed crypto project, has quickly emerged as a frontrunner among Solana-based meme tokens including BOME and SLERF, with its presale blasting past $10 million raised at lightning speed.

On the 7th day, Slothana said, ‘Let there be memecoins!’ And lo, the crypto world rejoiced as the laziest deity of them all blessed us with meme magic. Unto my fellow believers in the slothful gospel of crypto, may your baskets be full of memecoins this easter🐣 #slothana

— Slothana (@SlothanaCoin) March 31, 2024

99Bitcoins, a crypto channel on YouTube boasting over 700K followers, believes that Slothana could soar 100X after launch.

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Slothana follows in the footsteps of Solana meme coins including $SLERF, $BOME, $PUMP, and $PUNDU, which introduced a new way of launching on the Solana network. The launch method mainly negates the usual ways, with no price stages, timers, or even a hard cap.

For interested investors, one only needs to send SOL to a token address, and then the team airdrops tokens to their wallet.

Fellow sloths! 🌿🦥 A quick update from your favorite crypto connoisseur: I hear some of you are getting antsy about those Slothana tokens! 😅 Fear not, my slovenly supporters! The token drop will happen once our presale reaches its lazy conclusion.

— Slothana (@SlothanaCoin) March 28, 2024

You can also use the widget on the official website and specify the amount of $SOL you wish to exchange for $SLOTH. Click the ‘buy now’ button, choose your wallet, and finalize the transaction.

Buy $SLOTH Now, Get Positioned For A Major Surge

In a recent poll, the community voted in favor of Slothana’s debut on decentralized and centralized exchanges (DEX and CEX), underscoring the project’s aim to maximize exposure and accessibility.

🌿🦥 Attention, fellow sloths! Poll time. Should we launch on DEX only, embracing the true spirit of decentralization and lazy trading? Or should we go full throttle, hitting up both CEX and DEX like the overachieving sloths we could be? Cast your vote below #slothana #memecoin

— Slothana (@SlothanaCoin) March 29, 2024

Since there are no price stages, timers, or hard caps, now is the optimal time to buy before the tokens are sold out.

To participate, you can buy or send your $SOL here. For every 1 SOL sent to the address, you will receive 10,000 $SLOTH.

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• Source: https://insidebitcoins.com/news/wormhole-price-prediction-w-plunges-40-in-a-week-as-traders-send-over-10-million-in-sol-to-new-solana-meme-coin-slothana