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Render (RENDER) has captured market attention due to its role in decentralized GPU rendering, a critical component for 3D creators and applications in the Metaverse. Despite the challenges of volatile market conditions, RENDER has managed to maintain an upward momentum, showing strong potential for continued growth.
RENDER Key Statistics
- Current Price: $6.68
- Market Cap: $3.44 billion
- Trading Volume (24h): $323.08 million
- Circulating Supply: 517.69 million RENDER
- Total Supply: 532.45 million RENDER
- CoinMarketCap Ranking: #29
Render is currently trading 1.60% below its highest price in the last 30 days and 3.48% below its 7-day high. However, it has surged by 47.12% from its monthly low and 25.84% from its 7-day low, signaling a steady positive trend.
RENDER/USD Market Analysis
Key Levels
Resistance: $7, $7.50, $8
Support: $6, $5.50, $5
The RENDER/USD chart shows the price trading within the Keltner Channel (KC), with RENDER testing the upper boundary, suggesting potential further upward movement. The MACD indicator supports this bullish outlook, with the blue line crossing above the signal line, indicating increased buying pressure. If RENDER can push through the $7 resistance, it could target the $7.50 and $8 levels next.
On the downside, support at $6 remains critical. A break below this level could lead to a retracement towards $5.50, with a further drop potentially testing $5, a low seen earlier this month.
Will Render’s Decentralized Rendering Solutions Drive Its Price Beyond $7?
Render is gaining momentum as decentralized rendering technology becomes increasingly crucial for the development of virtual and augmented reality applications. Recent partnerships and ecosystem expansions have further solidified Render’s position within the crypto space.
Recently, Coinbase has added new trading options for Render, showing that large investors are paying attention. On top of that, Render’s network is seeing a significant increase in activity as the project is becoming a leader in the decentralized infrastructure space.
Is Render About To Skyrocket?
The continued expansion of GPU-based rendering solutions, paired with Render’s network of decentralized compute power, highlights its growing importance in the blockchain world. If market conditions remain favorable and the demand for Render’s solutions grows, the price could surpass $7, possibly even reaching $8 in the coming weeks.
RENDER/BTC Performance Insight
Render (RENDER) is trading at 0.00010380 BTC, marking a 2.14% increase over the last 24 hours. The pair is currently testing the upper boundary of the Keltner Channel, indicating bullish momentum. Immediate resistance lies at 0.00010499 BTC, with the potential for a rise toward 0.00011000 BTC if buying pressure continues. On the downside, support is solid at 0.00009500 BTC, a key level that has held through September.
In a tweet, @asvacapital highlights that 73.7% of the total 532.21 million $RENDER tokens are in circulation, with the rest distributed through vesting schedules. The implementation of the Burn Mint Equilibrium (BME) model has positively impacted $RENDER by maintaining a balanced supply, contributing to its stable and healthy market performance.
9/ Token Supply:
The total supply of $RENDER tokens is 532.21 million, with 73.7% currently in circulation. The remaining total supply is distributed across various vesting schedules such as incentives, team allocations, Treasury holdings, etc.
The Render Network has…
— Asva Capital (@asvacapital) September 29, 2024
Alternatives to RENDER
Render’s decentralized rendering solutions continue to attract significant attention in the crypto space, providing critical infrastructure for virtual production and the metaverse. As this sector evolves, projects like Pepe Unchained ($PEPU) have also been making substantial strides.
Pepe Unchained, known for its successful presale, which raised over $16.4 million, is gearing up for its decentralized exchange (DEX) launch. Its unique offering, combining meme coin energy with a strong staking protocol, provides an attractive alternative to traditional DeFi platforms.
Pepe Unchained Could Explode If This Happens Post-Launch
With over 1 billion $PEPU tokens staked and a vibrant community of 23,600 followers on X, Pepe Unchained is positioning itself as a strong contender in the market. The discounted presale price of $0.00989 offers early investors significant upside potential. Pepe Unchained’s dedicated community and innovative staking model make it an exciting project to watch as it prepares for its next phase of growth.
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