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A new Ethereum-based crypto token, Jinbe Knight of the Sea ($JINBE), is stirring curiosity in the crypto market.
Following its launch yesterday, the shitcoin has skyrocketed by almost 400% from its initial DEX price.
Will $JINBE witness a 50% price rally in the coming month?
JINBE Rallies Massively from the Outset
As of 6:09 AM EST on September 15, JINBE’s price hovers around $0.0002034, according to GeckoTerminal. This reflects a whopping surge of 1,714% over the past 24 hours.
Data from DEXTools indicates that Jinbe Knight of the Sea has garnered over 270 holders. Today, the token’s total market cap is over $925,180, while its liquidity is up to $366,650.
Following its massive adoption and popularity just a day after launch, JINBE now boasts over a 1,761% surge in its trading volume.
With 843 transactions completed within the past 24 hours, the token’s trade volume has reached more than $1 million.
JINBE Turns Green Between Critical Moving Average
JINBE is forming a green candle on the chart showing the increasing buying activities in the last 5 minutes.
However, considering that the price is between the center line and the lower Bollinger band, the coin is likely to stagnate within its current price level throughout today.
The Relative Strength Index (RSI) is at 48 and moving in the neutral zone. This flat movement shows no significant buy or sell trades have occurred over the past 30 minutes.
Given today’s green candle stick formation, JINBE’s price rally may trigger an upward movement on the RSI, pushing it to rally further to the overbought region (above 70) in the coming minutes.
However, the coin’s position between the center and lower Bollinger band hints at the potential for an oversold market condition. As such, any price dip at any time will send JINBE’s RSI into a trend reversal to the downside.
Additionally, the coin’s Moving Average Convergence Divergence (MACD) is below the signal, so its momentum is bearish.
JINBE’s bulls will likely step in as the red histogram bars fade.
This potential shift in momentum might support the green candle stick formation, fostering more upward movement for JINBE’s price in the coming days.
The chart shows neutrality but a possible move to the upside or downside. The final position today will depend on the Bulls and Bears’ activities.
Navigating Key Resistance and Support Levels
JINBE/USD aims to revisit its previous resistance at $0.00025. This marks a significant milestone for the coin, indicating a potential bullish surge. Moreover, a robust support level is visible at $0.0000033, providing a cushion against unforeseen downturns.
But, as long as the market maintains its position above (lower) Bollinger Band, the coin’s journey towards the resistance level is anticipated to unfold smoothly.
However, a cautionary note arises if the price slips below the BB indicator. This shift may redirect the coin’s trajectory toward the support level, potentially instigating a bearish sentiment in the market.
The increasing buying pressure has created a firm ground for the continuity of the crypto’s price surge.
However, it’s still uncertain if the JINBE will ensure a sustainable bullish run in the coming weeks and months. Investors should do thorough research before plunging into the crypto token.
While this uncertainty remains, Bitcoin BSC (BTCBSC) is JINBE’s best alternative for investors, offering increased sustainability and real-world value to token holders.
JINBE Best Alternative – Bitcoin BSC (BTCBSC)
Developed on BNB Smart Chain, Bitcoin BSC is a green crypto asset that mirrors some functionalities of Bitcoin.
Just like Bitcoin produces a new block every 10 minutes, BTCBSC rewards users with some tokens through staking within the same period.
The project has a total supply of 21 million coins, the same as Bitcoin.
Bitcoin BSC Unique Staking Program
Bitcoin BSC operates with a Proof-of-Stake mechanism that facilitates its increased energy efficiency. One of its outstanding and lucrative features is the staking program that encourages long-term holding and staking of BTCBSC.
The project allows users to earn passive income by contributing to the security and sustainability of the network through staking. Holders could receive rewards up to 310% APY for staking their BTCBSC coins on the staking pool.
The project pays users daily staking rewards (every 10 minutes) over 120 years.
BSC Explosive Presale
Bitcoin BSC launched its presence in the crypto space through its presale, which allows users to join and own the token at a low price of $0.99 per token.
The presale received an allocation of 6,125,000 BTCBSC coins, setting a target of $6.06 million.
The low price aims to create a similar trading price for Bitcoin in 2011 before its explosive boom, allowing investors to experience the same trend.
Already, the presale has accumulated over $2.02 million, representing more than 33% achievement of its presale target of $6.06 million.
Investors should visit BTCBSC’s official website to buy the token using ETH, USDT, or BNB.
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