Base token sees a significant surge of 77%, but fails to outpace Coinbase; meanwhile, a different presale skyrockets.
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The Base is for everyone token, known as BASE, had an intense 24-hour ride, with its price rocketing by an astonishing 77% to hit $0.01455 as of 3:25 a.m. EST. The trading volume also skyrocketed by a whopping 75%, reaching $40.43 million[1].
Crypto exchange Coinbase has distanced itself from the BASE token associated with the Base is for everyone meme coin, clarifying that it's not an official token and Base did not sell this token[2]. Coinbase noted that the token was created and tokenized on the platform Zora[2].
In the past, after BASE was introduced, it reached a peak market capitalization of $17.1 million, only to drop nearly 90%. However, the token has depuis recovered slightly[1].
Current Scenario: BASE on the Cusp
The current 5-minute BASE chart tells a captivating story of bullish momentum intertwined with a short-term pullback.
The trend started with a parabolic increase, shooting up from virtually zero to approximately $0.02287, followed by a correction phase[3]. Noteworthy, the BASE price action has respected the 0.382 ($0.01414) and 0.5 ($0.01145) retracement levels during this correction, indicating strong support in these areas[3].
The 50 Simple Moving Average (SMA) at $0.01514 is climbing, reflecting the bullish trend[3]. However, BASE has dipped just below this Moving Average, hinting at a possible reversal or consolidation in the near term[3].
Meanwhile, the Relative Strength Index (RSI), currently at 46.67, hovers just below the neutral 50 mark[3]. This places the BASE price a tad outside of overbought and oversold territory, signaling a lack of significant buying or selling momentum[3]. The RSI's downward journey from previous peaks suggests that the bullish momentum has cooled down, potentially opening the way for further declines if buyers falter[3].
BASE Price Prediction
Given the technical analysis, the short-term price prediction leans toward consolidation with a slightly bearish bias[3]. If the BASE price fails to retain and hold above the 50 SMA ($0.01514) and the 0.382 Fib level ($0.01414), a test of more robust support at the 0.5 ($0.01145) or even the 0.618 ($0.00875) retracement level could be imminent[3].
On the contrary, a robust bounce above these levels and a break of earlier highs could reignite bullish momentum[3].
On another note, investors are hastily snapping up the new Bitcoin-themed meme coin BTC Bull Token (BTCBULL), which promises token holders free Bitcoin[5]. According to 99Bitcoins, a well-known YouTube channel with over 725k subscribers, BTCBULL has the potential to skyrocket by 10X after its launch[5].
BTC Bull Token Presale Gathering Momentum
BTC Bull Token, the latest sensation in the crypto world, blends meme coin hype with growing Bitcoin optimism[5]. This token features a rewards system tied to Bitcoin's price milestones, ensuring token holders receive Bitcoin when BTC sets new highs[5]. When BTC reaches the $150,000 milestone, airdrops are activated, with incremental airdrops occurring after each $50,000 rise in Bitcoin's value[5].
Investors have already invested over $4.73 million in the project's ongoing presale[5].
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In the rapidly evolving world of technology and finance, exploring innovative investment opportunities such as BASE and BTC Bull Token (BTCBULL) can yield promising returns. As BASE navigates through consolidation with a bearish bias, potential investors might want to consider diversifying their portfolios by investing in BTCBULL, a meme coin tied to Bitcoin's price milestones and currently gathering momentum in its presale. To stay updated on the latest news and trends in the crypto scene, join our Telegram channel.
