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The Play price skyrocketed 74% in the last 24 hours to trade at $0.08853 as of 2.20 a.m. EST on trading volume that soared 575% to $305.47k.
PLAY is a very young project that has only been around for a month. It is a layer 0 protocol that “turbocharges games with crypto rails and agents – any game, any chain, any platform.”
What is PLAY Network?
A layer 0 protocol that turbocharges games with crypto rails and agents — any game, any chain, any platform
The onramp to blockchain & AI — easiest way to futureproof trad games
A movement doesn’t stop until (3b,3t) — 3B gamers onchain, 3T agents… pic.twitter.com/ChgUqwxe6w
— PLAY Network (@0xplay_network) December 20, 2024
Essentially, it is a movement to bring (3b, 3t) 3B games onchain and 3T agents in-game. Since its launch, its price has seen quite a strong movement, initially skyrocketing from $0.02677 to just under $0.080, then correcting to $0.033.
All of that happened in the first 10 days since launch, and after dropping to $0.033, it spent the next two weeks or so trading between $0.035 and $0.055. It sat at $0.04992 yesterday afternoon, January 5, when its price started shooting up. Since then, it never stopped, still surging strongly upwards as of the time of writing.
Play Price Prediction
The Play price saw a massive price surge in the last 24 hours, and while its price did see some increase over the past week, it is dwarfed by the token’s performance on Sunday and early Monday.
Its technical indicators show this as well, but they also seem to suggest that the project may have reached its limit for the time being. For example, its Bollinger bands saw a massive widening around the time when the surge started, but even though the price pushed the upper band further up, it still managed to go beyond its borders in the initial surge.
Then, as the surge slowed down, the price once again found itself between the two bands. It did not drop, but instead it traded sideways, while the bands continued to surge up, eventually leading the price to the middle line between the bands.
At that moment, the bands saw a major tightening, marking the end of the surge as the price approached the resistance at $0.090, suggesting that this is the token’s limit, at least for now.
Play’s Relative Strength Index (RSI) value shows similar performance, indicating that the increase was, and still is, part of a strong rally, rather than a controlled price pump. Prior to the bull run, the token’s RSI fluctuated between the neutral zone at 50 and the overbought zone at 70.
However, as the price skyrocketed, the RSI value shot up all the way up to the value of 100, which is a rare sight, even in the crypto industry. Since then, it has never gone back down below 70 for over 9 hours now. In fact, even now, while it is at its lowest in the past 9 hours, it still sits above the value of 80.
While this may suggest that the project is still seeing support from the traders, it is also an indicator that a strong correction is likely to follow once the bulls exhaust themselves, and the price starts seeking stability.
Promising Alternative To Play
Given the fact that PLAY is likely to see a correction in the near future, it might be too late to join the project. Investors in that school of thought might consider a presale like Best Wallet (BEST).
BEST is its native cryptocurrency and among the most advanced and currently most sought-after crypto wallets in the market. Best Wallet supports a staggering number of cryptos thanks to the fact that it supports over 60 blockchains, and all coins and tokens running on them. It also lets you connect your other wallets to it, and manage all of your portfolios from one place.
The Fastest Growing Wallet in Crypto!
In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀
1️⃣ Exclusive alpha on new projects.
2️⃣ Buy and claim tokens in the app.
3️⃣ Manage all your assets across multiple chains in one place.This is why the Best… pic.twitter.com/AT4yos1CmG
— Best Wallet (@BestWalletHQ) December 30, 2024
Not only that, but it is non-custodial, so you are the only one who can access your funds. You can use the wallet to buy, store, deposit, send, swap, sell, stake, spend, and secure your cryptocurrencies. You can also engage in iGaming, manage portfolios, and access the token launchpad. The wallet even has a special section where it suggests the best upcoming tokens you may want to invest in early.
On top of that, there is its own token presale, which is on sale for $0.0235 per token right now. It can be bought within the wallet itself using either cards or cryptos. The ICO already raised over $6.5 million, becoming one of the most popular presales on the market right now.
Crypto experts such as ClayBro, a YouTuber with over 134k subscribers, believe that the token could explode on launch and that it has at least 10x potential.
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