OHO Price Takes a Dive: Predicted 15% Slide for OHO Token

Updated: 16 August 2023

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OHO has been facing a downturn since last month, with a monthly recorded loss of 3.75%. Current trends show that another 15% downturn might be coming for this token.

Meanwhile, investors are contemplating investing in Wall Street Memes, an ERC-20 token that has raised more than $24 million since opening its presale in June 2023.

OHO Price Dives 0.8% In 24 Hours

The OHO price has dropped by 2.15% in the last 24 hours. At press time, it is valued at $0.0028.

This marginal drop is accompanied by a slight decrease in the token’s trading volume over the last 24 hours.

Even though the drop looks marginal now, many predict that the token will experience another 15% tumble in the coming days.

The primary reason for that could be a lack of engagement on social media and limited interest in the OHO blockchain.

This prediction is even though investors like Cryptosanju have painted bullish signals for this little-known token, stating that “OHO is the gateway to a new era of possibilities.”

What is OHO?

OHO is a community blockchain whose mission is to humanize crypto for everyone. According to the project’s official whitepaper, it is a fast, scalable, eco-friendly, intelligent contract-capable, EVM-compatible POA platform with three-second finality and low fees.

The platform uses Proof of Authority as its consensus mechanism, which keeps OHO transactions within 3 seconds, and transactions cost around 0.0001 OHO.

OHO launched a Universal token creator in July, which lets users create an ERC-20 token for free.

Just a quick reminder, you can use OHO Universal Multisender and OHO Universal Token Creator with any supported EVM token free of charge!https://t.co/q2k2z7d8Ao https://t.co/3HT0pxqPox #oho $oho #ohoblockchain pic.twitter.com/ftlblju3Y3

— OHO (@OhoBlockchain) July 23, 2023

While the project looked enticing, it hardly got any traction on social media, and the response from the developers was also unenthusiastic.

OHO Price Analysis

While CoinMarketcap is tracking the OHO price, Tradingview doesn’t keep tabs on it. The following chart was taken from BitMart, one of the six exchanges listed OHO after its arrival in November 2022.

The price chart shows declining interest in OHO. The token has painted a passive red on the hourly chart, and its price has dropped even further.

It is moving below its 30-day MA, acting as its current resistance. If the downturn persists, the token will dip further, predicting a 15% slump a reality.

From a technical perspective, the token’s RSI and MACD don’t inspire much confidence. The RSI is trending close to the oversold zone – 38, and the MACD is negative, indicating a bearish sentiment around this asset.

OHO Alternative – Wall Street Memes

Wall Street Memes is a better alternative to OHO because of two reasons. First, it is an asset with a straightforward utility centered around a social media community known as Wall Street Memes. Secondly, it is available as a presale.

This project follows the trend set by Wall Street Bets – a Reddit group that engineered “Gamestonks”- to create an ecosystem of assets like meme coins perceived as useless and can generate wealth for investors.

Its belief in the meme culture has allowed it to gain more than 260k followers on Twitter, which has in part helped this token raise more than $24 million since opening as a presale in June 2023.

Experts like Jacob Crypto Bury are pegging it as the next 10x crypto due to its community-centric utility.