As on-chain moves spring back into life, the latest stealth-launched token to skyrocket is Refund token (REFUND) – which has undertaken a skyrocket +1,000% move.
Recent weeks have seen a huge trend in explosive DEX-launched tokens, with countless pump-and-dump moon-shots, including DEE, APX, MEGA, Blinky, DRS and SNOR.
Bolstered by the promise of Ethereum staking rewards, REFUND appears to have surged amid growing interest in so-called ‘reflection tokens’ – which seek to reward holders with a share of transaction fees.
REFUND Price Analysis: Will Refund Token Skyrocket Endure?
As price action undertakes retracement and consolidation, REFUND is currently trading at a market price of $0.063207 (representing a 24-hour change of +198.84%).
However, an emerging support level at $0.062808 has now provided a consolidation zone for 6-hours – suggesting price action has found a foothold that could trigger a major bounce.
This comes after REFUND was launched at just 9pm on October 14, the first 24-hours of trading saw steady growth with well established lower support at $0.061020.
At 22:00pm on October 15, 25-hours after trading began, REFUND hit a localised all-time high at $0.066120 – which now forms the upper target for price action.
The sensational run was fuelled by more than $2m in 24-hour trading volume, in a frenzy of more than 7.9k in transactions driven by almost 930 holders.
With the REFUND market cap now stood at $1.15m, upside prospects look good here following a successful consolidation, with many similar reflection tokens surging to $3m market caps in recent weeks.
This suggests REFUND could still undertake a 2-3x move from an entry here, if price is able to breakout of the localised descendant trading channel.
But while on-chain traders size up a late entry, in other news, an emerging Bitcoin cloud mining presale is stealing the limelight.
Bitcoin Minetrix (BTCMTX): Presale Enters Stage 2 Funding as +$1.5M Raised
Dive into the innovative world of Bitcoin Minetrix and its pioneering stake-to-mine system – as the skyrocketing presale smashes +$1,582,617 raised.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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