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The Panda Swap price jumped 13% in the last 24 hours to trade at $0.0104 as of 5:30 a.m. EST on trading volume that skyrocketed 595% to $3.98 million.
Panda Swap is a young project that has only been around for about a month now. The project was listed on MEXC on April 24, with Panda Swap speculating that the move would bring it great exposure in the medium term.
Panda went live on @MEXC_Official yesterday!
This is another huge step forward for the project and will bring great exposure to us in the medium term.
Today, we are trending no.4 in the world on @CoinMarketCap, above @Bitcoin!
Also, how do you like our gold tick? We think… pic.twitter.com/K1mX4tCs1S
— Panda Swap (@PandaSwapSol) April 25, 2024
It also managed to get its Gold Badge on X, which will legitimize it and prevent potential bad actors from exploiting inexperienced investors with fake accounts.
Big shoutout to @X & @Verified for getting us the Gold Badge! 🌟
This is a major milestone stone on our roadmap in building our brand.
Loving the shine on our profile and the authenticity it gives us amongst other projects. Let’s keep this hype going $PANDA’s! 🐼🚀… pic.twitter.com/HouhR2ME6F
— Panda Swap (@PandaSwapSol) April 24, 2024
Panda Swap Price Prediction
The recent Panda Swap price surge comes after the token saw a significant dip in value following its launch. However, it has been trying to recover from it ever since. For the most part, its value drop resulted from unfortunate timing, as it launched just when the bull run that pushed Bitcoin’s price to a new ATH near $74k ended, and a market-wide correction began.
Now that the Bitcoin halving has been completed, many speculate that another bull run will kick off in months, maybe even weeks. This is also why traders and investors alike have been turning to technical indicators to try and predict what will happen to PANDA’s price in the short term.
According to the project’s Relative Strength Index (RSI), its price is likely to continue its push up, as the RSI shows that traders have been buying the token in the last several hours, pushing the RSI value up.
Over the last week, the RSI score went from overbought to a mid-range between the oversold zone and the neutral area. Now, however, it is surging up, and is halfway back to the overbought area.
This shows that the price is likely to continue its surge for a while longer, but ultimately, traders will likely take a profit once the RSI score hits the overbought zone, causing another correction.
For the moment, the project’s Bollinger bands suggest a certain neutrality. While they are fairly wide, especially compared to the situation in mid-April, they are also much more narrow than they used to be throughout the last week.
Ultimately, this signals that Panda Swap suffers from the same uncertainty and volatility as the rest of the market. Even though the token is performing well compared to even the largest cryptos in the industry, this could quickly turn, so traders are advised to remain cautious.
Promising Alternative to Panda Swap
While Panda Swap offers excellent opportunities for investors and traders alike, there are sometimes even better options among projects still in presale.
One of those might be the DePIN crypto eTukTuk (TUK), an eco-friendly project that’s using crypto/blockchain technologies, electric vehicles, and artificial intelligence.
The project combines these technologies to deliver AI-powered sustainable transport solutions that are designed to transform transportation in developing nations, and distribute them around the world eventually.
Those who purchase TUK can stake its tokens for 86% annual rewards.
There’s also a native game, Tuktuk Crazy Taxi, which is now available in both the Google Play Store and the Apple App Store.
The game allows users to drive a tuk-tuk through the busy streets of Sri Lanka and join races, complete quests, and earn rewards in the form of TUK tokens.
📢📢 EXCITING ANNOUNCEMENT 📢📢
We are thrilled to announce that our awaited game, Crazy Tuk Tuk taxi is now also available on the App store 🤩
Complete quests, earn rewards and compete in thrilling races 😎
Download now:https://t.co/E2rb7J8r2e pic.twitter.com/XXgV8Wgz0Y
— eTukTuk (@eTukTukio) April 21, 2024
The more you play, the more you stand to earn, and the game will in future allow users to upgrade their vehicles, unlock new cities, and more.
The presale has already raised raise $3.2 million. Investors can buy TUK in exchange for BNB, USDT, ETH, or purchase it with a debit or credit card. Those who wish to do so must move quickly, as the project will see a price increase in a little over 24 hours.
Visit the official eTukTuk website to buy TUK here.
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