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Bitcoin price is up 1% in the last 24 hours Trading at $60,530 As of 09:55 p.m. ET, though, trading volume was down 28% to $32 billion.
Bitcoin jumped above $60,000 yesterday, tracking a rally in broader risk-driven sectors as a positive US labor market helped ease last week’s fears that a recession was imminent.
Bitcoin price may continue to rise
According to Bitcoin price analysis on the hourly chart, Bitcoin has been on a steady rise for the past three days, rising within an ascending channel pattern. Bulls took advantage of support at $50,000 to push the coin higher, according to data from Gecko Terminal.
BTC is now trading above the 50-day and 200-day simple moving averages (SMAs), which is a confirmation of the uptrend.
Moreover, after the recent breakdown, the RSI appears to be bouncing off the 50 midline level to currently trade at 54, an indication that Bitcoin bulls are actively buying.
If the buying continues, Bitcoin price could rise, with bulls likely to target the $68,000 resistance level. The 50-day SMA has now crossed the 200-day SMA as well, forming a golden cross at $60,000. The golden cross could encourage bulls to take more long positions, which could push Bitcoin price higher.
However, if the bears take control of the market and break the lower boundary of the channel, Bitcoin price could drop to the next major support level at $55,000.
As Bitcoin price prepares for a potential surge, investors are buying a new derivative of Dogecoin, Play Dogwhich analysts believe has significant speculative potential.
According to cryptocurrency analyst and YouTuber Jacob Perry, the price of PLAY is likely to increase 10x after its launch.
PlayDoge Meme Coin Raises Over $6 Million – Is It The Best Meme Coin To Buy Right Now?
PlayDoge has now raised over $6 million with its ICO explosion. As a derivative of Dogecoin, $PLAY is a meme coin focused on the Shiba Inu dog breed. However, the project is more than just another lighthearted cryptocurrency.
PlayDoge is a mobile-based play-to-earn (P2E) game that turns the DOGE meme into a Tamagotchi-style virtual pet, allowing users to earn $PLAY tokens.
Don’t ignore #Doug Or you will die 👻
Feed your dog, earn rewards and level up. No mazes, just fun!#presale It’s launched! 🙌#dog_game #P2E #Memecoin pic.twitter.com/Fp2sFwycpj
— PlayDoge (@PlayDogeGame) May 31, 2024
The project blends 90s nostalgia with modern blockchain technology, allowing users to take care of an 8-bit dog in a retro-style mobile game. Players can feed their virtual pets, play mini-games, and interact with them, earning $PLAY tokens in the process.
Aside from earning through P2E, token holders can also earn passively through Betting on $PLAY For an impressive annual return of 77%.
You can buy $PLAY tokens for $0.00527 each. With the price going up in less than 9 hours, don’t wait too long if you want to get the best deal.
buying $PLAY from the official website here Using BNB, USDT or bank card.
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