Join Our Telegram channel to stay up to date on breaking news coverage
The Beam price surged 24% in the last 24 hours to trade at $0.03252 as of 4 a.m. EST on trading volume that skyrocketed 618% to $121.6 million.
BEAM saw its price soar in tandem with Upbit Korea, one of the most trusted global digital asset exchanges, announcing several new BEAM pairs.
By adding market support for BEAM/KRW, BEAM/BTC, and BEAM/USDT, the exchange increased exposure to the asset, drawing new traders and investors to add it to their respective portfolios.
신규 디지털 자산 빔(BEAM) 거래지원 안내
✅ 지원 마켓: KRW, BTC, USDT 마켓
📅 거래지원 개시 시점: 2024-05-31 18:00 ~ 19:00 예정🔗 공지 바로가기:https://t.co/Di4vDFDD5A#Upbit #BEAM pic.twitter.com/PNWk0A50P2
— Upbit Korea (@Official_Upbit) May 31, 2024
BEAM is a native crypto asset of the Beam Network, a gaming network empowered by the Merit Circle DAO. As such, Merit Circle’s actions also often have a positive impact on the token, such as the DAO’s decision to back Ithaca Protocol, a non-custodial, composable option protocol.
Merit Circle x @IthacaProtocol
We're excited to back Ithaca Protocol, a Non-Custodial, Composable Option Protocol.
It all starts with participating in the Pre-Seed funding round alongside notable names like @wintermute_t and @CumberlandSays.
What is Ithaca? 🧵👇 pic.twitter.com/xnIk4ooYS7
— Merit Circle (@MeritCircle_IO) May 30, 2024
Lastly, Merit Circle also recently announced a Beam game called Rumble Arcade, which may have also attracted investors.
Beam Price Prediction
The BEAM price has skyrocketed in the past several hours in a sudden and rapid surge that took it from $0.025 to $0.035 in a matter of minutes. However, the price has since corrected to $0.032, only to surge back to $0.035, and once again correct to $0.032.
The question now is where will it go from here?
The token’s technical indicators do not provide a clear picture, as some suggest the continuation of a bullish trend, while others indicate that a greater correction might happen.
For example, BEAM’s Bollinger bands are extremely wide, which is a very bullish signal. Compared to their state over the last several days, the bands suggest extreme bullish behavior.
However, the token’s Relative Strength Index (RSI) value has ventured deep into the overbought zone, nearly reaching the value of 100. Since then, it has dropped to 68.42, which suggests that many of the traders have taken profit, selling their BEAM supply. But, the RSI is still in the overbought zone, albeit not as deep in as it used to be.
This suggests that other traders might make the same move before long, opting to profit before the price sinks deeper. Of course, this is not a guarantee and a new bullish wave may inspire traders and investors to continue buying, although this is a less likely scenario.
Right now, BEAM is maintaining certain stability, thanks to the support at $0.032 being fairly strong, and capable of keeping its price from sinking further. But, with the RSI score still in the overbought area, many might take this as a signal that they can still profit from selling, which means that the support might be broken in the near future.
Therefore, traders interested in working with BEAM should be very cautious and use risk management tools to their advantage to avoid potential losses.
A Promising Alternative To Beam
While Beam’s recent surge brought major gains to its holders, the chances are that the token will see a correction soon. There may be a more promising alternative in PlayDoge (PLAY), the new mobile-based P2E game that transforms Doge into a 2D pet, similar to a hit toy from the ‘90s, Tamagotchi.
The project just launched its presale on May 28, and it is still in the first out of 40 scheduled phases, meaning that its price is currently at its lowest point, and can only go up from here.
PlayDoge holds massive potential due to its combination of meme coins, gaming, and P2E. Experts such as crypto YouTuber Jacob Crypto Bury, who has 39.5k subscribers, believe that this might be the next 10x potential crypto.
The project has already raised more than $588k in just three days.
Right now, PLAY tokens costs only $0.005 each. A price hike is coming in less than 21 hours so buy now if you are interested for the best deal.
Visit PLAY official website. You can buy PLAY with BNB, USDT, ETH, or a credit/debit card.
Related Articles:
- How to Buy PlayDoge – $PLAY Presale Review
- PlayDoge Meme Coin Raises $200K In ICO Explosion, Can It Challenge Floki Inu With DOGE Hype, Play-To-Earn Gaming?
- Best Cryptocurrencies to Invest in Right Now
PlayDoge (PLAY) - Newest Launch On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited - playdoge.io
Join Our Telegram channel to stay up to date on breaking news coverage
