{"id":48108,"date":"2023-08-14T07:05:46","date_gmt":"2023-08-14T11:05:46","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/thorchain-price-prediction-as-rune-pumps-up-46-whats-going-on\/"},"modified":"2023-08-14T07:05:49","modified_gmt":"2023-08-14T11:05:49","slug":"thorchain-price-prediction-as-rune-pumps-up-46-whats-going-on","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48108","title":{"rendered":"THORChain Price Prediction as RUNE Pumps Up 46% \u2013 What’s Going On?"},"content":{"rendered":"
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The price of THORChain (RUNE) has risen to $1.35 today, representing an impressive 46% gain in the last seven days.<\/p>\n

RUNE is also up by 30% in the past month and by 5% since the beginning of the year, although the coin has actually fallen by 54% in the last 12 months and by 93.5% since reaching an all-time high of $20.87 in May 2021.<\/p>\n

However, with THORChain \u2013 a decentralized liquidity and trading protocol \u2013 witnessing increased usage over the past few weeks, it’s highly likely that RUNE will enjoy further gains in the near future.<\/p>\n

THORChain Price Prediction as RUNE Pumps Up 46% \u2013 What’s Going On?<\/strong><\/h2>\n

If there’s one coin in the top 100 that’s surging right now, its RUNE, which has seen its technical indicators explode in the past few days.<\/p>\n

Its relative strength index (purple) peaked at nearly 90 yesterday, yet rather than crashing down to Earth as the coin becomes overbought, the indicator has remained above 70.<\/p>\n

This signals some very strong and sustained buying momentum, which is also indicated by RUNE’s 30-day moving average (yellow), which continues to rise steeply above its 200-day average (blue).<\/p>\n

This indicates a decisive breakout to a new longer-term level for Rune, which has now risen so far beyond its previous support levels (green) that it’s likely to consolidate around a higher base once the current rally has played out.<\/p>\n

Yet it’s possible that this rally may not subside for a few days or even weeks yet, given that it has happened as a result of the emergence of really positive growth data for THORChain as a decentralized exchange\/liquidity protocol.<\/p>\n

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Pretty much every kind of metric available right now is showing growth for THORChain, with the cross-chain protocol seeing increases for its total value locked in, its volumes and the number of swaps it facilitates each day<\/a>.<\/p>\n

And what’s particularly bullish about RUNE is that, the more THORChain grows, the more in-demand the altcoin will become.<\/p>\n

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In particular, the growth in THORChain’s liquidity pools necessitates a corresponding growth in RUNE, which is kept in excess of any single cryptocurrency listed and locked on the platform.<\/p>\n

In other words, THORChain uses RUNE as over-collateralization for each of its pools, meaning that the bigger its pools become, the more RUNE has to be locked up.<\/p>\n

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This should result in a rising price over time for RUNE, which can be expected to rise to $1.50 in the next few weeks.<\/p>\n

Other High-Potential Altcoins<\/strong><\/h2>\n

As strong as RUNE looks at the moment, it isn’t the only high-potential altcoin in the market right now, with a number of other tokens emerging in recent months and promising some serious returns.<\/p>\n

Among the best new altcoins in the market are various presale tokens, which could potentially rally big once trading platforms add them.<\/p>\n

One strong contender for such a rally is Wall Street Memes (WSM), a new ERC-20 token that has raised more than $23.7 million since opening its presale in June.<\/p>\n

What’s most promising about Wall Street Memes is that it has emerged out of the meme stocks movement that helped instigate the 2021 GameStop rally, with the token already having a substantial online community around it.<\/p>\n

This explains why it has raised so much money in such a short space of time, with its Twitter account now boasting 259,000 followers<\/a>, which is far beyond the accounts of most meme tokens.<\/p>\n

Wall Street Memes has also been helped by its decentralized tokenomics, with 50% of its maximum supply (2 billion WSM) being reserved for the presale and another 30% being kept for community rewards.<\/p>\n

It’s likely that this distribution has helped attract more investors, who can see that they’ll have a comparatively larger stake in the token and that they’ll be protected from big selloffs.<\/p>\n

To join the WSM presale, new investors need simply go to the official Wall Street Memes website and connecttheir crypto wallets.<\/p>\n

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1 WSM currently costs $0.0334, yet this will rise to $0.0337 by the sale’s final stage, which isn’t far away now.<\/p>\n

This leaves new buyers with little time to act if they want to buy WSM while it’s still cheap.<\/p>\n

Visit Wall Street Memes Now<\/strong><\/p>\n

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.<\/sup><\/i><\/p>\n<\/p><\/div>\n