Velodrome Finance Price Prediction: VELO Rises on Buy by US Congressman Mike Collins as Experts Say This Multichain Token Could Be the Next Cryptocurrency to Explode

Velodrome financing price Pump More than 14% over the past 24 hours to trade at $0.1065 as of 7:15 AM EST as investors rush to pile into altcoins.

Prominent political trade alert✍️

This time, it’s Crepo

Rep. Michael Collins (R) just revealed a $15,000 purchase of a cryptocurrency called Velodrome.

Its market capitalization is only about $150 million pic.twitter.com/oWicS3s6Zv

— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) June 17, 2024

This latest increase in the price of VELO comes after US Congressman Mike Collins revealed that he had purchased the token. He said he bought VELO on May 15, when the cryptocurrency was trading at around $0.13. Collins also revealed that he purchased $15,000 worth of the token.

Critical support for testing Velodrome financing rates

VELO/USD 4-hour chart (Source: GeckoTerminal)

Velodrome Finance price was rejected by the $0.1250 resistance level in the last 24 hours. It has since recorded a series of lower highs on the 4-hour chart, forming a negative trend line. VELO has also broken the support level of $0.1123 and is currently testing the support of $0.1046.

If the 4-hour candle closes below $0.1046, VELO could be at risk of falling to the next support level at $0.0925 in the next 12 hours. However, maintaining a position above $0.1046 for the rest of today’s trading session may invalidate this bearish thesis. It could also place the price of Velodrome Finance above the recently formed downtrend line.

In this alternative scenario, Alternative currency It could start to climb towards the $0.1123 mark mentioned above. Enough buying pressure if it reaches this point could flip this threshold into support. This could give it the technical foundation needed to continue rising in the short term.

Merchants May enter into a long cryptocurrency position. With this potential upward pressure, VELO could try to break above $0.1245 before rising to $0.1377.

Technical indicators indicate that the Velodrome financing price may decline in the next 24 hours

Technical indicators on the 4-hour chart of VELO warn that the price of Velodrome may continue to decline in the next 24 hours. Over the past two hours, the value of the Relative Strength Index (RSI) has decreased significantly. Although the RSI remains bullish above the 50 level, the negative slope and recent decline may indicate waning buyer power.

If the RSI drops below 50, it could be an indication that sellers have gained the upper hand over buyers. As such, it may be easier for the bears to push down the price of the Velodrome over the next 24 hours rather than for the bulls to boost it, if sellers choose to take advantage.

Meanwhile, the Moving Average Convergence-Convergence (MACD) line breaks down towards the MACD signal line. Traders may see this as an early sign that VELO’s current bull cycle is coming to an end. A crossover between these two lines could also be a sign that the altcoin is entering a negative phase.

As VELO’s bullish momentum begins to slow, investors continue to flock to the multi-chain meme coin DAWGZ Base.

Offering seamless interoperability to token holders across multiple blockchains

Although Base Dawgz calls the Layer-2 Base network its home, the project team plans to expand the meme’s presence to many other networks.

These additional chains include some of the most active and liquid chains currently in the Web3 space, such as Solana, Ethereum, Avalanche, and Binance Smart Chain.

This will not only allow investors to transfer value across networks easily, but will also give them the ability to participate in high-yielding DeFi opportunities regardless of the network they are offered.

This is made possible by the powerful cross-chain technology that powers the Base Dawgz. At its core, the project enables investors to claim, store and trade on multiple networks thanks to Wormhole and Portal Bridge technology.

Wormhole is a decentralized blockchain messaging protocol that allows Base Dawgz investors to seamlessly transfer their assets across different chains. Meanwhile, the Portal Bridge enhances the functionality of DAWGZ by ensuring secure and efficient cross-chain transfers.

Popular YouTuber Jacob Burry recently spoke about DAWGZ and told his 40.7k subscribers that the base meme currency has the potential to increase 100X.

It’s close to $2 million

Base Dawgz hit the market and raised $200,000 through pre-sale during its first day. This success continued over the next week, as the meme’s ICO surpassed $1 million. Now, the DAWGZ pre-sale is on track to reach $2 million soon as well.

Anyone wishing to purchase cryptocurrencies at this early stage can do so through the project’s official website. Priced at $0.00527, DAWGZ can be purchased with either BASE, ETH, BNB, AVAX or SOL using the simple buy tool included on the site’s homepage.

Investors will want to hurry because the price of the memecoin is set to rise in less than a week.

Buy DAWGZ here before its next price increase.

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