The Australian cryptocurrency exchange Coinstash is becoming a refuge for investors looking to diversify their holdings beyond the passing popularity of meme coins, even as the market for cryptocurrencies remains unstable.
Coinstash AU, which offers a strong platform with a large selection of cryptocurrencies, has seen an increase in user activity as traders move away from dwindling platforms like Dogecoin (DOGE) and Pepe (PEPE) in favor of more reliable and perhaps profitable digital assets. Let’s review the most recent market developments:
Dogecoin Price Lingers in the Low $0.10s
Dogecoin (DOGE) has dropped significantly from its peak of around $0.74 in 2021 to less than $0.11 at the moment. Many investors are now skeptical of the coin’s long-term prospects because to its prolonged period of immobility, especially in light of its recent price performance.
The price of DOGE is still about $0.10 as of August 10th, 2024, down slightly from one week prior. The fact that there are much fewer transactions each day than there were in previous months is concerning.
However, a closer look at its performance during the previous week indicates that not much of a price movement happened. Dogecoin (DOGE) is struggling to break over its sub-$0.20 barrier.
Within a narrow band, between around $0.105 and $0.135, the price of DOGE has fluctuated throughout the last week. This corresponds to a little, essentially sideways 2.7% price fluctuation, which is insignificant in the overall context of the bitcoin market.
PEPE Rally Pauses as Weekly Gains Remain Stagnant
Following an extended period of price stagnation, there are early indications of a potential recovery for the Pepe Coin (PEPE). However, it remains unclear if this upsurge would result in the memecoin’s continued rise.
With its recent price activity, Pepe Coin (PEPE) has been a source of both excitement and concern for investors in recent weeks. While its rise in May was undeniably impressive, a recent price correction has left many wondering if Pepe can regain its footing. Pepe’s price surged by almost 115% in a single month, setting a new record on June 1st, 2024, of $0.000015.
The coin’s price has moved both up and down since its high, demonstrating notable volatility. Currently, Pepe is trading around $0.058438, down from its all-time high by the same amount. The sustainability of the original plan is called into question by this recent downward trend.
Data suggests a decrease in trading volume for Pepe since its peak, potentially indicating a decrease in active trading activity surrounding the coin
Coinstash Remains a top Exchange for Many Investors
With an impressive lineup of over 1775+ cryptocurrencies, it outshines competitors in terms of variety. This extensive selection means that traders get a proper mix of popular and less-known coins. Furthermore, introducing “Bundles” simplifies investment strategies by allowing users to create diversified portfolios with a single purchase.
To enhance accessibility, Coinstash has implemented automatic recurring purchases, enabling users to build their crypto holdings systematically. There are no fees for AUD deposits or withdrawals, and the platform has a fair cost structure.
By removing hidden fees, the platform guarantees transparency with a low trading charge of just 0.85%. An important benefit over many rivals is that customers may deposit and withdraw Australian dollars (AUD) without paying any fees.
Coinstash’s lower than average Bitcoin withdrawal fee further demonstrates how cost-effective it is. It undercuts the market by 21.34% at 0.0003 BTC, giving consumers significant transaction discounts.
For those looking to save expenses while maximizing profits, Coinstash offers a tempting value proposition with its cheap trading fees, free AUD deposits and withdrawals, and reasonable fees for withdrawing bitcoin amongst other digital currencies.
