AVINOC Drops Close to June Low. Is it Time to Sell?

Updated: 19 July 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

AVINOC fell close to its June low with technical indicators showing bearish momentum that by one measure suggests it’s time to sell.

In the chart below, the Relative Strength Index is currently at 46.71, known as the neutral zone, suggesting a balanced market.

AVINOC Facing Bearish Momentum On Technical Indicators

An RSI below the 30 zones would likely trigger a trend reversal. However, the asset’s Moving Average Convergence Divergence (MACD) is below the signal, and the histogram bars show red candles below the zero level.

This suggests that selling pressure is dominant, potentially leading to further price declines. Traders may consider this a signal to sell or take caution before entering new positions.

On-Chain Tools Review

Several noteworthy features characterize the asset ($AVINOC). According to Dexscreener, it has a 0.01% buy and 0% sell tax, making it more accessible for traders. Also, the tax structure is not adjustable, ensuring consistency. Being open source, AVINOC Token ($AVINOC) encourages transparency and community involvement.

Dexscreener highlighted that the coin does not incorporate honeypot or proxy contract functionality, reducing the risk of malicious traps or unauthorized control.

Additionally, the absence of a blacklist feature ensures all participants have equal opportunities to transact, fostering a more inclusive and open ecosystem. Minting is disabled, preventing the creation of new coins and mitigating concerns related to inflation.

In addition, transfers cannot be paused, ensuring seamless and efficient transactions. This coin gives users control over their assets, allowing them to sell their entire token balance anytime.

Dexscreener highlight shows that the token incorporates anti-whale measures, safeguarding against disproportionate market influence.

Thug Life Hits The Market – Potential 100X Gem?

Analysts are touting $THUG as one of the top investment opportunities for 2023 in the realm of “shitcoins.” The token was launched yesterday and is tradable on major Ethereum-based decentralized exchanges (DEXs).

The presale of Thug Life Token concluded over the weekend, amassing over $2 million in under two weeks, indicating strong remaining demand as the token heads into its official launch.

Traders who have yet to acquire $THUG may want to act swiftly once the token becomes available, as the fear of missing out (FOMO) and pent-up demand could swiftly propel its price well above the presale level.

Thug Life Token revolves around the iconic Thug Life movement popularized by hip-hop artists like Snoop Dogg in the 1990s. Described as the “baller’s meme coin” on its website, $THUG encourages users to embrace the market with a gangster mindset and elevate their financial prowess.

Analysts Back $THUG for 100x Returns

According to Thug Life’s official website, the project aims to assist its community in converting previous losses into future gains by capitalizing on missed opportunities in the meme coin market.

Thug Life’s playful nature, distinctive inspirations, and well-thought-out tokenomics have led certain analysts to predict potential returns 100x.

Prominent YouTubers such as Michael Wrubel, followed by over 300K users, and Crypto Gem, followed by over 67K users, have created videos envisioning significant growth of 100x for the $THUG token.

However, the opportunity for investors to participate at just $0.0007 is dwindling, as the presale is set to conclude in less than 48 hours. Subsequently, securing the Thug Life token will only be possible through decentralized exchanges (DEXs), Thug Life airdrops, and giveaways.

Thug Life Marketing in Full Swing

Thug Life Token has garnered considerable attention within the web3 community, primarily due to its team’s association with the successful creation of previous projects.

Crypto enthusiasts may recall that $SPONGE achieved remarkable gains of nearly 100x from its initial DEX launch and reached a maximum market capitalization of approximately $50 million.

The Thug Life Token team is determined to replicate or even surpass the success of significant coins previously, actively engaging with reputable crypto news platforms like Be[In]Crypto, CryptoPotato, and Finbold.

In addition, influential figures in the crypto space, including Crypto Gains, are actively promoting the project. With over 4,800 followers on Twitter and meme tweets consistently receiving over 500 likes, Thug Life Token is effectively leveraging social media.

Furthermore, their Telegram channel boasts over 2,600 subscribers. A key factor for meme coin success lies in building a devoted and engaged community that aligns with the token’s theme and vision.

Given the significant attention Thug Life Token is already attracting, it is unlikely that $THUG will remain at a market cap of $3 million for an extended period.

Join Our Telegram channel to stay up to date on breaking news coverage