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    zkSync Price Prediction: ZK drops 29% after Airdrop controversy as traders flock to AI Meme ICO approaching $6M

    msmarkBy No Comments5 Mins Read
    zkSync price

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    The price of zkSync has fallen 29% over the past 24 hours to trade for $0.2176 as of 02:34 AM EST, making it the biggest loss among the top 100 cryptocurrencies by market cap.

    This slump comes amid a lot of FUD (Fear, Uncertainty, and Doubt) around the controversial airdrop. Many token holders were unhappy with the way ZK, an Ethereum scaling solution, distributed the airdrop.

    The network used Sybil’s discovery to determine eligibility and some say questionable wallets could still qualify for the airdrop.

    zkSync prices drop amid controversial ZK Airdrop

    The second layer of the blockchain, ZKsync, began its ZK token airdrop on Monday, which was fairly successful: 45% of the tokens were claimed in less than two hours.

    zkSync Association is responsible for airdrop claims. It is a non-profit organization created and launched last week by Matter Labs, the development company behind Zksync.

    Despite the aforementioned controversy, the hype around the airdrop sent ZK’s market cap close to the $850 million threshold.

    Blockchain analytics firm Nansen reported that 41% of tracked addresses sold all of their tokens. Also, 29.2% sold some, while 30% held their ZK tokens. This analysis covers the top 10,000 addresses, representing 1.4% of the 695,232 eligible wallets.

    Nearly half of the major wallets that received the new ZK token in the recent airdrop sold their entire allocation, resulting in a 34.5% drop in the price of zkSync.

    zkSync price prediction

    zkSync price is trading with a bearish bias, consolidating sideways as part of a horizontal cut. While sentiment is bearish, the big picture outlook remains bullish, as ZK remains above the $0.1880 threshold. The collapse of this support level would negatively affect optimism.

    However, for now, the bulls can still reclaim the market as the Moving Average Convergence and Divergence (MACD) remains above the orange band of the signal line. The Relative Strength Index (RSI) is also bullish, with higher lows continuing as it stabilizes above the 50 intermediate level.

    The MACD histograms are also in the positive territory with shades of green, indicating bullish sentiment. If buyer momentum increases and zkSync price records a stable close above $0.2595, it will encourage more buy orders.

    Closing of the stable candle above the mentioned level would set the tone for a continuation of the trend. Key levels where buyers will look to increase their holdings will be the $0.3500 and $0.4446 levels. Away from these bans, the controversial altcoin will have a chance to regain its peak at $2.9700, recorded on June 17.

    GeckoTerminal: 15-minute ZK/USD chart

    Conversely, as the MACD histograms turn pale, the bears are fighting for control. If they make their way and the zkSync price records a closing candle below $0.1880 on a 15-minute time frame, more sell orders will likely be triggered. Worse still, or in the worst case scenario, the downtrend could extend below $0.1525, effectively thwarting the short-term bullish outlook.

    Meanwhile, as ZK bulls and bears engage in a battle for control, investors continue to… Buy WienerAI (WAI)an AI meme coin that YouTuber Jon Trading says is the best AI meme cryptocurrency of 2024.

    A promising alternative to zkSync

    WAI is the original cryptocurrency behind WienerAI environmental system. It is a hybrid token that uses AI capabilities to emulate the success of other coins such as DOGE and SHIB.

    The project combines animal memes, advanced AI technology, and a bit of processed meat humor. It has gained a large following, with its pre-sale price already exceeding $5.96 million in funds raised.

    The WienerAI project will integrate trading bot capabilities into its platform. This function provides easy-to-use AI trading, seamless swap functionality, and no fees.

    WienerAI prides itself on carefully designed tokens that aim to promote long-term sustainability and growth. The team has already allocated 20% of the tokens to signing rewards, where users can stake an amount of WAI for an impressive 192% annualized return (APY).

    Each WAI token is currently selling for $0.000719. Buy soon if interested before prices rise in less than five hours.

    Buy WienerAI tokens here Using ETH, USDT, or your bank card.

    Read also:

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