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The Grimace price surged 662% in the last 24 hours to trade at $0.0003825 as of 03:19 a.m. EST on trading volume that skyrocketed to $25.7 million.
This comes after McDonald’s Corp.’s official Instagram account was hacked yesterday to promote a cryptocurrency scam named after the firm’s purple mascot, Grimace.
The hacker changed the biography on McDonald’s Instagram page and also made posts related to the crypto scam.
After targeting the McDonald’s account, the scammers managed to drive up the market capitalization of Grimace to $20 million before it fell below $1 million once the scam was exposed.
After the attack, the hacker edited the bio section of McDonald’s Instagram page to brag about the exploit, saying the attack netted a profit of $700,000.
Grimace Price On A Downtrend – Can The Token Rebound?
According to data from GeckoTerminal, the price of Grimace has been on a downtrend after the exposure, dropping within the falling channel pattern.
With the downtrend, the GRIMACE price has fallen below the 50-day Simple Moving Average (SMA).
Moreover, the Relative Strength Index (RSI) has been on a downtrend as it moves towards the 30-oversold level, currently at 38. This shows that the asset is under intense selling pressure.
The Moving Average Convergence Divergence (MACD) is also bullish, with the MACD now closing above the zero line. The green bars on the histogram also extend above the neutral line, which shows GRIMACE is in positive momentum.
According to the Grimace price analysis on the 5-minute chart, the asset may rebound from the current downtrend to soar above the falling channel, as the bulls target $0.0010.
However, if the current bearish stance continues, GRIMACE could drop further to the $0.0001910 support level.
Meanwhile, as the Grimace price bulls aim for a rebound, investors are also buying the new Solana GameFi project Mega Dice (DICE), which is racing towards $2 million in funds raised.
GameFi Sensation Mega Dice Zooms Past $1.7 Million In Blockbuster Presale
Mega Dice is a GameFi cryptocurrency operating on the Solana network that has recently garnered attention by raising over $1.7 million.
The project stands out as a top brand in the crypto casino domain, boasting over 10,000 active players and exceeding $50 million in monthly wagers.
Players also enjoy over 4,000 casino games and 50 sports and eSports betting options.
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99Bitcoins, a popular crypto channel on YouTube with over 706,000 subscribers, says that $DICE could soar 100X after its launch.
Token holders also stand to share in the casino’s profits daily through its unique staking system.
To join the presale, you can buy $DICE on the official website here for $0.110529 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
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