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The Drift price surged 21% in the last 24 hours to trade at $0.6948 as of 3 a.m. EST on trading volume that skyrocketed 75% to $57.6 million.
DRIFT has soared 63% in the past week and 108% in a month, driven in large part by the introduction of the first capital-efficient prediction market called BET, which went live on DRIFT.
Introducing BET: The First Capital-Efficient Prediction Markets on @solana
Bet bigger on the future.
Hedge on a unified platform.
Earn yield from your positions. pic.twitter.com/1dWcDRLrZL— BET on Drift (@DriftProtocol) August 19, 2024
BET on DRIFT called the prediction markets the next frontier for the DeFi sector, merging trading with real-world outcomes. Other than that, the Coinbase Wallet also introduced Drift to its community, presenting it as a unified platform for borrowing, lending, spot trading, prediction markets, and more.
Onchain Spotlight 🔆 Drift@DriftProtocol is the home to onchain trading on Solana. Discover a unified platform for borrowing and lending, spot trading, prediction markets, and more.https://t.co/uUokfUMel6
— Coinbase Wallet 🛡️ (@CoinbaseWallet) September 12, 2024
DRIFT Price Prediction
The DRIFT price boost brought the token to the resistance at $0.70, but traders want to know whether it will be able to breach this barrier, or if its price will be rejected. According to the project’s technical indicators, chances are good that DRIFT will go beyond the $0.70 mark.
Its Bollinger bands have started seeing a sharp widening, with the price pushing the upper band, which is a very bullish signal. The traders remain optimistic and are willing to buy even at the token’s current value, so the demand continues to drive that value further.
Meanwhile, the project’s Relative Strength Index (RSI) value has been climbing from the neutral zone toward the overbought area. While this would typically be a bearish signal that would suggest that DRIFT is ready for a correction, there is actually a little extra room for growth — just enough for DRIFT to go past the $0.70 resistance, and perhaps secure a new support.
As of the time of writing, the RSI value sits at 64.62, but traders who use this technical indicator in their trading decisions will likely wait for it to hit 70, or perhaps go further up before they make their move.
Promising Alternative to DRIFT
With the DRIFT price currently unable to breach the $0.70 barrier, many assume that the token has reached its limit, and that it might be too late to buy it now.
Fortunately, there are alternatives that have yet to see their price skyrocket and they include the blockbuster presale Pepe Unchained (PEPU).
Pepe Unchained is a new alternative to the popular Pepe token — one that views itself as a more advanced version than the original.
This comes from the fact that Pepe Unchained is the first, and currently only Pepe-inspired meme coin to have its own blockchain. It was created on a Layer-2 chain launched on top of Ethereum’s network, which grants it numerous advantages over the original Pepe, as well as other Pepe-inspired meme coins.
The old Pepe was based on Ethereum’s network, where it still runs as an ERC-20 token, and as such, it is limited by Ethereum’s technology.
While the ETH chain has been the place where pretty much every new crypto trend and technology were invented, it is a slow chain, with high transaction fees and it lacks the ability to scale.
These problems are the same for ETH and PEPE alike, but as a project with its own chain, PEPU does not have such issues.
Lucky number 13! 🎉 We’ve hit $13M! pic.twitter.com/8M3vBNzdie
— Pepe Unchained (@pepe_unchained) September 12, 2024
Instead, its speed, scalability, and low cost are its greatest advantages over the original Pepe, as well as other competitors.
Its advantages attracted investors and allowed the PEPU presale to raise over $13 million, while the popular crypto YouTuber ClayBro, with more than 130k subscribers, recently speculated that the token would bring huge gains upon launch.
Right now, the token is available for $0.009651 apiece, and it can be bought with ETH, USDT, BNB, or credit/debit cards. Act soon if you are interested before a price hike in about 5 hours.
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