Polygon (MATIC) And dogwifhat (WIF) On The Decline — Rebel Satoshi Arcade (RECQ) Sells Over 80% First Stage

TLDR

• dogwifhat and Polygon plummeted as the overall crypto market nosedived.
• Rebel Satoshi Arcade sees rising interest in presales.
• Rebel Satoshi Arcade, a new ICO, stands out due to its blend of GameFi, NFTs, memes and merchandise.

It might be a bull market but the bears occasionally make their presence known. This week is one of them, with Polygon (MATIC) and dogwifhat (WIF), two top altcoins, trading on the downside.

Their downswing can be attributed to the overall market downturn caused by the unrest in the Middle East. A market upswing will likely push these altcoins back to the upside. Or not.

Amidst this, Rebel Satoshi Arcade (RECQ), one of the new ICOs, is having a relatively better day. It has been enjoying rising investors' interest—if the first stage of the presale almost sold out counts.

As it prepares to take on the wider crypto market, its nearest challenge is dominating the ICO world first. Afterward, whether or not it is a token worth betting on can be determined.

Rebel Satoshi Arcade (RECQ): Rising presale interest

Rebel Satoshi Arcade (RECQ) is the utility and transactional token within its ecosystem, which is a dual-token system. The first is Rebel Satoshi (RBLZ), a governance coin that has already launched on Coinstore and Uniswap.

The success of its governance coin can be linked to the frenzy around the ongoing Rebel Satoshi Arcade presale. Almost 80% of the tokens dedicated to the first stage have already sold out, with one priced at $0.0037.

While it appears to be enjoying early success, it is uncertain if this will continue. Moreover, amid rising competition in the ICO space, evident in the many top ICOs, it has a tough battle ahead.

For what it's worth, it will combine memes with GameFi, NFTs and merchandise. This might see it compete in the crypto landscape, especially in the gaming ecosystem.

The community-driven ecosystem will include different arcade games and experiences. These include pay-to-play (P2P), free-to-play (F2P) and play-to-earn (P2E) action-packed arcade games.

Polygon (MATIC): On a decline

Polygon (MATIC) rose to the ranks of top crypto coins, thanks largely in part to its real-world use cases. It plays a vital role as an Ethereum-based scaling solution.

Despite the rising competition in the Layer 2 ecosystem, Polygon has managed to stay in the spotlight. It is currently among the top 20 altcoins, highlighting its leading status.

However, after registering its annual peak of $1.26 in mid-March, it has been a steep decline for MATIC. The bulls’ failure to hold the $1 support contributed to its descent.

Meanwhile, the latest market downturn mired it further into bear zones. If it loses the current support, we might see Polygon trading further down.

However, if the bulls show resilience—evident in the current price actions—a rebound might just be around the corner. Nevertheless, this isn't financial advice—do your own research (DYOR).

dogwifhat (WIF): Price takes a hit

dogwifhat (WIF) is among the latest meme sensations. It skyrocketed in the first quarter of the year, making its presence known within a short time. At the moment, it is one of the top DeFi coins and the third-leading memecoin.

Like many altcoins, it experienced huge interest in March, reaching a price peak of $4.85 at the month's end. However, as the market took a bearish turn, so did dogwifhat.

We might see further declines if the bulls are unable to muster enough momentum. Or hold the nearest support.

On a less gloomy note, a comeback might be on the cards if dogwifhat builds on the current support. As the broader crypto market gains traction, it isn't far-fetched to be bullish. This isn't financial advice, though.

Conclusion

Polygon and dogwifhat trade in bearish zones as the wider market plummeted. Meanwhile, Rebel Satoshi Arcade, one of the new DeFi projects, is experiencing rising interest in presale.

As it takes on other ICOs in the presale space, it is one of the new altcoins to watch.For the latest updates and more information, be sure to visit the official Rebel Satoshi Website or contact Rebel Red via Telegram.

This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.