Top Gainer BEAM is up 24%, but is a new GameFi ICO a better option?

Beam’s price has risen by 24% in the last 24 hours of trading $0.03252 As of 4 a.m. EST, trading volume was up 618% to $121.6 million.

BEAM saw its price rise alongside Upbit Korea, one of the most trusted global digital asset exchanges, announcing several new BEAM pairs.

By adding market support for BEAM/KRW, BEAM/BTC, and BEAM/USDT, the exchange has increased its exposure to the asset, attracting new traders and investors to add it to their portfolios.

Information about supporting BEAM transactions for new digital assets

✅ Supported Markets: KRW, BTC, USDT markets
📅 Transaction Support Start Time: Scheduled on 05-31-2024 at 18:00 ~ 19:00

🔗 Go to notification:https://t.co/Di4vDFDD5A#Upbit #Hazm pic.twitter.com/PNWk0A50P2

– Upbit Korea (@Official_Upbit) May 31, 2024

BEAM is a native crypto asset of Beam Network, a gaming network powered by Merit Circle DAO. As such, Merit Circle actions also often have a positive impact on the token, such as the DAO’s decision to support the Ithaca Protocol, a non-custodial and configurable option protocol.

Merit circle x @Ithacaprotocol

We are excited to support the Ithaca Protocol, a non-custodial and composable option protocol.

It all starts with participating in the Pre-Seed funding round alongside notable names like @wintermute_t And @Cumberland says.

What is Ithaca? 🧵👇 pic.twitter.com/xnIk4ooYS7

– Merit Circle (@MeritCircle_IO) May 30, 2024

And finally, the Merit Circle recently as well Announce A Beam game called Rumble Arcade, which may have also attracted investors.

Beam price prediction

BEAM’s price has skyrocketed in the past few hours in a sudden and rapid rise that took it from $0.025 to $0.035 in a matter of minutes. However, the price has since corrected to $0.032, then rose again to $0.035, and corrected again to $0.032.

The question now is where does it go from here?

The symbol’s technical indicators do not provide a clear picture, with some indicating a continuation of the upward trend, while others indicate the possibility of a larger correction.

For example, BEAM’s Bollinger bands are very wide, which is a very bullish signal. Compared to their condition over the past few days, the bands indicate extreme bullish behavior.

However, the Relative Strength Index (RSI) value of the symbol has ventured deep into the overbought zone, almost reaching a value of 100. Since then, it has dropped to 68.42, indicating that many traders have taken profits, selling BEAM supplies. Their own . But the RSI is still in the overbought zone, although not as deep as before.

This suggests that other traders may make the same move before long, choosing to profit before the price drops deeper. Of course, this is not a guarantee and a new bullish wave may inspire traders and investors to continue buying, although this scenario is less likely.

At the moment, BEAM maintains a certain stability, thanks to the support at $0.032 being fairly strong, able to prevent its price from falling further. However, with the RSI remaining in the overbought zone, many may take this as a sign that they can still benefit from selling, meaning the support may be broken in the near future.

Therefore, traders interested in working with BEAM should be very careful and use risk management tools to their advantage to avoid potential losses.

A promising alternative to beam

While Beam’s recent rally brought significant gains to its holders, the token will likely see a correction soon. There may be a more promising alternative in PLAYa new mobile-based P2E game that turns Doge into a 2D pet, similar to the hit Tamagotchi game from the 1990s.

The project was just launched for pre-sale on May 28, and is still in the first phase out of 40 scheduled phases, meaning its price is currently at rock bottom, and can only go up from here.

PlayDoge has huge potential due to its combination of coins, games, and P2E. Experts like cryptocurrency YouTuber Jacob Crypto Bury, who has 39.5k subscribers, believe this could be the next potential 10x cryptocurrency.

The project has already raised more than $588,000 in just three days.

Right now, PLAY tokens cost just $0.005 each. The price hike will come in less than 21 hours, so buy now if you’re interested in getting the best deal.

Visit the official website to play. You can buy PLAY using BNB, USDT, ETH, or credit/debit card.

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