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The price of the soy has increased by 31% in the last 24 hours. Trading at $0.8462 As of 03:36 AM ET, trading volume was up 52% to $389 million.
SUI has seen a sustained rally over the past two days after Grayscale announced on Wednesday the launch of two new cryptocurrency investment funds for Bittensor (TAO) and Sui (SUI) tokens.
The new funds, which come as single-asset funds, will provide investors with exposure to potential price growth from developments occurring in the Bittensor and Sui protocols.
The move also reflects Grayscale’s steps to expand its decentralized investment offerings.
SWI Stock Price Forecast: SWI Stock Price Targets Continued Rise
Sui price was in a downtrend from July 29 to August 5, falling from the $0.78 resistance level to the $0.52 support level.
After that, SUI bulls managed to take control of the altcoin’s price, pushing it into a price surge phase where SUI price reclaimed the $0.52 resistance level, forming a rounding bottom pattern.
Investors then took advantage of the pattern to push Sui price above resistance, as they aim to maintain the momentum.
On the 4-hour chart, SUI stock is now trading above the 50-day and 200-day simple moving averages, which is a confirmation that the price is now in an uptrend.
The Relative Strength Index (RSI) also confirms the positive momentum, as it bounces off the oversold level which is currently at 79, indicating that the stock is in overbought territory.
SUI/USDT Daily Chart (Source: Tradingview.com)
If the momentum continues, SUI price could continue to rise, with bulls targeting the $1 level, which represents a 17% increase from the current price.
However, the RSI indicates that the asset is currently overvalued, which is a sell signal. Hence, investors may start taking profits. In this scenario, the price of SUI may decline to the immediate support levels at $0.74 and $0.63, which are the 200-day SMA and the 50-day SMA respectively.
Meanwhile, as the price of SUI rises, investors continue to pour capital into the new alternative to Dogecoin, Play Doga project that analysts say has the potential to generate huge gains once it launches.
Jacob Perry, a prominent cryptocurrency analyst on YouTube, believes that $PLAY has the potential to rise 10x after its launch.
PlayDoge ICO Value Surpasses $6 Million – Is It The Best Alternative To Buy Now?
PlayDoge, a play-to-earn (P2E) token, continues to gain momentum, surpassing $6 million in its presale. This surge in investor interest could see PlayDoge take on its predecessor, DOGE, and other dog-themed tokens like FLOKI.
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 PlayDoge app combines the popular Doge character with the beloved Tamagotchi toy from the 90s, creating a fun virtual gaming experience where players play to earn the game’s native token, $PLAY.
With P2E elements and the upcoming launch of a modern version of the classic Tamagotchi, PlayDoge is on track to become a meme coin that investors might regret missing out on.
The project also allows you to earn passively through its betting option, by Buy and deposit $PLAY To get 77% of annual bonuses.
You can buy $PLAY tokens for $0.00527 each. However, given the price increase that will occur in about a day, you may want to act quickly to get the meme coin at the best possible price.
buying $PLAY from its official website here Using BNB, USDT or bank card.
Related articles:
PlayDoge (PLAY) – The Latest Launch on the BNB Chain
- 2D virtual pet
- Play to earn Meme Coin Fusion
- Betting Bonuses and In-Game Tokens
- SolidProof Audited – playdoge.io
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