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The gradual upward trajectory of Open Exchange Token (OX) since its launch, nearing $0.06, has persisted despite bearish attempts to drive the market downward.
At 2:52 a.m. EST, OX is trading at $0.059, indicating a 19.4% surge within the past 24 hours. This robust increase is also evident in its performance over the week, showing a 7.5% uptick.
The daily trading volume has soared to $4.4 million, marking a 328% increase in just 24 hours. What’s behind this impressive uptick?
Sharp price fluctuations are often attributed to heightened buying activity, significantly when typical trading is muted.
On Uniswap, OX tokens valued at about $3 million were traded on the last day. An investment of just $66,000 in ether (ETH) could prompt a 2% rise in the OX price.
A closer analysis of the OX token data on the blockchain shows that only 1,700 unique wallets hold these tokens as of Tuesday.
Indicators Show Significant Surge in OX Price Performance
Launched in June 2023, the price of OX has been following a steady upward trend, characterized by multiple instances of higher lows.
Despite occasional downward pressure from bearish movements, the bulls have managed to maintain a foothold on the price action.
There is a rebound in OX’s price on the 50-day simple moving average, as indicated by a green candle on the chart.
This pattern suggests the potential for a further substantial increase in OX’s price, empowering the bulls to drive it to higher levels.
This bullish sentiment is further confirmed by the relative strength index (RSI), currently trading at 55, comfortably above the neutral 50 mark. This indicates significant buying pressure in the market, which could push the RSI towards the overbought threshold of 70.
Based on this analysis, all indicators indicate continuing bullish momentum for OX’s price. A crucial resistance level to keep an eye on is at $0.094.
Conversely, if the buying pressure wanes and the price opens below the 50-day SMA, it might lead to a decline in price.
In such a scenario, essential support levels to monitor are located at $0.032 and $0.019.
Meanwhile, Wall Street Memes is nearing the completion of its presale phase. For investors seeking higher returns, exploring this token as an alternative to OX could be a viable option.
Wall Street Memes (WSM) Tier 1 Exchange Listing
Capitalizing on the growing trend of utilizing memes as a dominant form of communication and expression, Wall Street Memes aims to democratize the cryptocurrency investment landscape by establishing an interactive and engaging platform for crypto enthusiasts and providing an extensive array of memes for users to explore.
The forward-looking development team envisions taking WSM to prominent tier-one exchanges after its presale in 29 days.
This strategic move not only promises to bolster liquidity but also aims to amplify its market presence.
This meme coin, centered around community engagement, has amassed an impressive following of over 1 million users on its social media platforms. The vibrant community generates more than 40 million monthly impressions, showcasing the substantial reach of WSM.
Bro thought robbing a day trader was a good idea pic.twitter.com/a40CJcXbAj
— Wall Street Memes (@wallstmemes) August 27, 2023
Further, WSM is organizing a $50,000 airdrop event for active holders engaged with their social media channels, including Discord.
In 2021, the creators showed their NFT expertise with the success of the Wall Street Bulls NFT collection, earning $2.5 million in just 32 minutes.
Final Call as Presale Last Day Approaches
As the WSM presale enters its final days, the project has already garnered an impressive $25 million in funding.
Positioned at $0.0337 per token during this presale phase, WSM presents an enticing entry point for investors to acquire tokens before a potential surge in value as it aims to reach $30 million.
The total supply of $WSM tokens is limited to 2 billion, entirely dedicated to the community. The presale will release 50% of the tokens, while 30% are for community rewards, and the remaining 20% will ensure liquidity on different exchanges.
Prospective investors can purchase WSM tokens using Ethereum (ETH), Tether (USDT), or their bank cards via WSM’s official website.
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