Stellar (XLM) price has been in a downturn in the week, pushing several investors out of profit. The token’s price action looked more concerning on the monthly chart, as it plummeted by more than 25% during that period.
Closer Look At Stellar (XLM) Price Action
A possible reason behind XLM price decline could be rising bearish sentiment around it. Santiment’s data revealed that Stellar’s weighted sentimnet declined sharply over the last week. This clearly suggested that investors were not confident in the token.
Source: Santiment
Though XLM price wasn’t showing much promise in the short term, a few other top cryptos are bagging huge potential. In fact, they could also earn investors massive profits, if they invest properly. Ergo, let’s take a look at these cryptos, which have the potential to burst.
Chainlink (LINK)
Chainlink (LINK) has also witnessed a substantial set back of late. To be precise, LINK price dipped by 14% in the last seven days. After this dip, Chainlink price is at $16.56 with a market capitalization of over $10.5 billion. Nonetheless, investors must not lose hope, as the chances of LINK pushing its price up are high. As per Santiment’s data, while LINK’s value dropped, investors bought LINK substantially during the same time. This was evident from the decline in its supply on exchanges and rise in its supply outside of exchange. If this actually results in a trend reversal, then it won’t be surprising to see LINK price touching $17 again in the short term.
Source: Santiment
DexBoss (DEBO)
While XLM price has been dropping, newcomers are now making news. Available on presale, DexBoss (DEBO) is poised to chart up by close to 400% by the time it lands on cryptocurrency exchanges. Currently available on discount at a price of $0.011, DexBoss will go live on an exchange at $0.0505.
A further move upwards may be possible for its native token, DEBO, thanks to a long list of facilities it offers. DexBoss aims to differ from standard DEXs by offering not only spot trading, but also futures, options, and trading on leverage. Cross-chain compatibility will ensure most are able to use the platform’s services and with comprehensive trading tools, investors can potentially trade better.
All of these, combined with a little from positive marketing, can cause the DexBoss price to experience a parabolic uptick post listing.
Dogecoin (DOGE)
Apart from Stellar (XLM) price, Dogecoin was yet another major crypto, which witnessed a major drop. To be precise, the memecoin’s value plummeted by 12% in the last seven days. At the time of writing, DOGE price was that $).230 with a market capitalization of over $34.1 billion. Nonetheless, there was a bullish falling wedge pattern that appeared on the memecoin’s chart. In case of a successful test of the pattern and a breakout, investors can soon expect Dogecoin price to touch $0.27 before it eyes higher targets.
Source: TradingView
Conclusion
Despite XLM price dropping 7%, other cryptos like LINK, DEBO, and DOGE show strong potential. DexBoss could surge 400%, while Dogecoin eyes $0.27. Investors should stay informed and strategic, as these assets might decouple from XLM’s decline and offer profitable opportunities in the near future.
The post Which 3 Cryptos Can Decouple From Stellar (XLM) Price’s 7% Drop? appeared first on CoinGape.
