Immutable, a layer-two coin, has seen a 2% drop in price in the past 24 hours, currently standing at $1.45. Despite this recent dip, the coin has experienced a 12% increase over the last seven days and a significant 27% surge in the past two weeks. The strong performance of ImmutableX, a platform for Web3 gaming, has contributed to its year-over-year growth of 155%. As the crypto market is anticipated to move into more bullish territory in the coming months, there is a possibility of a strong recovery in the Immutable price in the near future.
IMX is showing promising signs on its chart and indicators, suggesting the potential for further gains before a potential correction. The 30-period moving average of the coin has remained above the 200-period average for over a week, indicating ongoing momentum. Additionally, the relative strength index of IMX has stabilized around 50, positioning the coin for potential growth. With resistance and support levels aligning, analysts predict a breakout in the near future, potentially leading to a substantial rebound following the coin’s medium-term decline since July.
Despite its recent price decline, Immutable has some of the strongest fundamentals in the market, particularly with its L2-based Web3 gaming platform boasting hundreds of thousands of active users monthly. Token Terminal highlighted Immutable as having the fourth-biggest smart contract in crypto, based on the number of unique addresses interacting with it. With such positive metrics supporting Immutable, it is speculated that the coin may reach $2 by the end of the year and $4 by Q2 2025, reflecting a significant recovery from its ATH of $9.52 in November 2021.
While IMX remains a solid investment option, traders looking to diversify their portfolios may consider exploring new altcoins with potential for growth. Shiba Shootout (SHIBASHOOT), an Ethereum-based crypto combining Shiba Inu memes with Wild West themes, has gained attention for its community-building initiatives and unique offerings. The project aims to incentivize engagement through mini-games, lotteries, poker tournaments, and virtual treasure hunts, with rewards in SHIBASHOOT tokens for participants.
Shiba Shootout’s presale has already garnered over $1 million, indicating investor interest in the project. With a maximum supply of 2.2 billion SHIBASHOOT tokens, the presale offers a significant portion of this supply, with staking opportunities available for token holders. Interested investors can participate in the presale through the official Shiba Shootout website, with each SHIBASHOOT token currently priced at $0.02. As the project progresses and lists on trading platforms, there is potential for significant price rallies in the coming months, making it an attractive investment opportunity for those seeking exposure to new altcoins.
