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The short-term historical price action of IOTA’s coin MIOTA is an exciting insight to monitor what to expect in the coming days. The coin maintained a stable market from August 1 to August 16, ranging between $0.16 and $.017.
Unfortunately, the fall of the broader cryptocurrency market led MIOTA to trade for as low as $0.1557 on August 17 for the first time in the month. Despite several rally attempts, it exhibited significant price volatility around the $0.14 mark.
Since the start of September, the coin has been pushing up again, spiking the speculations that it’s likely retesting its early August price trend.
At 5:28 a.m. EST today, September 8, MIOTA has shot up by 3%, trading at $0.1785 in the last 24 hours. Given this price movement, IOTA (MIOTA) could be poised for the $0.2 benchmark in the coming week.
MIOTA Loses Over Past Year but Hits Significant Gains Afterward – How Long Could It Last?
According to the cryptocurrency data platform Coingecko, MIOTA’s performance depicts a promising outlook and potential for substantial future price growth. In the last year, the platform recorded a 34.8% loss for IOTA (MIOTA), which shows the volatile nature of the asset.
However, IOTA has enjoyed more positive moves, recently recording a 2% gain within 30 days, 23% in 2 weeks, and another 14% in the last seven days.
Its 24-hour trading volume is also rocketing by approximately 104%, at over $10.6 million today.
Given the high interest and utility of the coin, evidenced by the increased trading volume, IOTA could surge significantly, recording new high prices by the weekend and beyond.
What factors could push MIOTA’s positive price trajectory?
Resolved 2018 Online IOTA Seed Generator Scam Might Boost Its Token Utility and Value Potentially
In a tweet by IOTA’s project team on the X platform, the IOTA Seed Generator Scam has been resolved thanks to Thames Valley Police Cyber Crime and Crypto Unit & DICE. All victims affected by the scam will also receive their 2018 losses.
🚨Update on the 2018 Online Seed Generator Scam 🚨Thanks to the work of Thames Valley Police Cyber Crime & Cryptocurrency Unit & DICE, victims of https://t.co/AiBkNGhdDE will get back their 2018 loss. Watch your inbox for an email from the authorities! https://t.co/u5laHkVrnn
— IOTA (@iota) September 6, 2023
The recent update regarding the 2018 scam and the actions taken by TVPCCCU and the IOTA community could significantly enhance the utility and value of the IOTA token.
The collaboration between law enforcement and the cryptocurrency community to reimburse victims demonstrates a commitment to addressing security issues, which can bolster trust in IOTA and the broader crypto market.
Furthermore, the proactive steps taken by the IOTA community to redesign the iotaseed.io website as a warning to potential investors highlight community vigilance and responsibility. This can attract more users who see IOTA as a reliable source of information and support.
Additionally, the educational aspect of the iotaseed.io warning serves to inform new investors about the risks of cryptocurrency investments, leading to more informed decision-making.
The positive sentiment generated by this news can potentially drive up demand for the IOTA token as more people become interested or feel secure investing in it.
MIOTA Faces Downtrend Due to Nearly Overbought Market Condition – What’s Next?
Source: Tradingview.com
In the chart above, IOTA (MIOTA) trades below the 200-day Simple Moving Average (SMA), which depicts an overall bearish market trend.
In addition to the coin’s bearish signals, it has formed a red candle stick, representing increased selling pressure today.
MIOTA’s Relative Strength Index (RSI) is at 64.31, moving downward. This plunging movement suggests that the coin could face the consequences of an overbought market condition early, considering the last consecutive green candle on the chart.
Nevertheless, the coin’s Moving Average Convergence Divergence (MACD) is bullish despite its weak momentum in the last 24 hours.
The asset price is still above the 50-day SMA, which means the market is bullish in the short term. As such, IOTA (MIOTA) will likely rally beyond the $0.17 level in the coming days, forming more green candles on the chart.
While IOTA’s value remains subject to market fluctuations and uncertainties, smart investors can leverage the opportunities from emerging tokens like Bitcoin BSC (BTCBSC) for enticing APY rewards.
IOTA Alternative – Bitcoin BSC
Bitcoin BSC (BTCBSC) offers stability amid crypto market volatility. Launched on September 5, 2023, it operates on the Binance Smart Chain (BSC) and uses the energy-efficient Proof-of-Stake (PoS) consensus mechanism.
This cryptocurrency operates as a community-driven project, with 69% of tokens reserved for staking rewards, 29% allocated to the presale, and 2% set aside for exchange liquidity.
Meanwhile, the presale of Bitcoin BSC takes place in two phases, with 4 million tokens released in the first stage and 2.125 million in the second stage.
In the meantime, the BTCBSC presale has successfully raised over $220,000 in funds. Any unsold tokens during the presale will seamlessly become part of the 120-year staking rewards unlock schedule.
To purchase and claim BTCBSC, visit the official website for multiple payment options, including ETH, USDT (ERC-20 & BEP-20), BNB, or Card via Wert.
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