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The LayerZero price plunged 23% in the last 24 hours to trade at $3.13 as of 4.45 a.m. EST on trading volume that surged to $645 million.
The ZRO price drop came almost immediately after its launch yesterday. LayerZero Foundation announced the launch, reminding the community that its supported chains include Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.
ZRO Claim Is Live.https://t.co/BjBvTMRJjJ
Supported Chains: Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche. pic.twitter.com/k2Fv2UKMoB
— LayerZero Foundation (@LayerZero_Fndn) June 20, 2024
Over the last few weeks, the project also announced numerous partnerships and integrations of LayerZero with other projects, including Taiko, P-OPS Team, BounceBit, Iskra, Symbiotic, and others.
However, the project had the misfortune to launch at the start of the most recent bearish wave, which has a wide range of crypto prices tumbling.
That means it has a good chance of bouncing back should the current correction end.
LayerZero Price Prediction
The LayerZero price has seen a strong correction post-launch, but this may provide an opportunity for traders. Overall, the project has seen numerous partnerships and integrations, as mentioned, which means that it has excellent connections and great potential. However, its price was quickly overwhelmed by the bearish sentiment.
Once it reaches the bottom — which may have already happened — it might bounce back up and gain strong momentum as traders move in to buy the dip.
The token launched with a price of about $4.09, only to see a surge to $4.7 in the first few hours. After that, its value started spiraling down until it reached $3.13. With a seemingly strong support at $3.10, it is unlikely that ZRO price will keep going much lower.
However, technical indicators still suggest that the market is strongly bearish at the moment. The token’s Bollinger bands, for example, have seen a sharp narrowing in the past few hours, which is a bearish signal.
On the other hand, the project’s Relative Strength Index (RSI) value has started climbing up after dropping to the oversold zone a few hours ago. Right now, it sits in the neutral zone at 54.35, which suggests that traders have started buying.
This could mean that the price action will soon change, as well, and as the buying pressure increases, so will the token’s value.
While ZRO has strong resistance to breach on its road to recovery, a shift in the market sentiment will likely allow the token to see a strong recovery in the hours or possibly days to come.
A Promising Alternative to LayerZero
While LayerZero’s drop represents a good opportunity to buy the dip, there are even better but currently less risky options for those seeking to make money in the crypto sector, and that is to invest in a hi-tech meme coin such as WienerAI (WAI).
WienerAI is a meme coin that combines a dog, a sausage, and artificial intelligence. The project is a meme coin only on the surface. Underneath the funny design and a laid back attitude lies one of the most advanced AI-powered trading companions the industry has seen to date.
Calling it the “ChatGPT of crypto,” WienerAI’s upcoming trading bot will revolutionize trading, enabling new and experienced traders to find the best opportunities on the market quickly.
The bot uses predictive technology to deduce the most profitable opportunities on the market at any given moment and suggest them to the trader.
Consider WienerAI the ChatGPT of crypto.
Not only will the Bot find winning trades with unrivaled accuracy and give meaningful reasoning for its suggestions, but WienerAI is Swap-Enabled–meaning you don't have to leave the App to place your trades. (3/4) pic.twitter.com/5HFpCmVOHh
— WienerAI (@WienerDogAI) June 11, 2024
Crypto YouTube channel 99Bitcoins, which has over 705k subscribers, says the project has 50x to 100x potential.
The WAI presale has already raised more than $6.1 million and is one of the most successful presales of the year. Because WAI isn’t listed yet, it can also provide upside potential while being immune to the current market volatility
WAI tokens are currently priced at $0.00072 and can be bought using ETH, BNB, USDT, or a credit/debit card. Act soon if you are interested because a price hike is coming in less than seven hours.
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