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Origin Protocol’s OGN token witnessed an extraordinary surge in trading volume on July 24, 2023.
According to CoinMarketCap, OGN’s 24-hour trading volume surpassed $400 million, marking an astounding 7,000% increase in the last 24 hours. The token’s price is $0.0943 at 12pm EST , and it has risen by 29% over the past 14 days.
Despite the considerable trading activity, OGN’s price remains significantly bearish, having experienced a 96% decline from its all-time high of $3.35.
Price Performance of OGN
OGN has seen significant gains in the last seven days, with its current price surging by 25% compared to its value a week ago, according to Tradingview data.
OGN saw a significant 62% price surge on July 23, as per CoinMarketCap’s data. However, the token has since lost momentum and retraced by more than 10% on the same day.
OGN experienced a sharp 31% price surge at 5:17 EST on July 24, 2023, accompanied by an astonishing 7207% surge in trading volume, resulting in a trading volume of $413 million.
OGN experienced a momentary surge in momentum at 10:00 am EST, but the bulls lost steam, resulting in a trading volume decline to $370 million. Currently, OGN is priced at $0.098, marking a 10% decrease, while the trading volume increased by an impressive 235%.
Technical Insight Reveals Potential Trend Reversal for OGN
OGN is experiencing a price retracement caused by bearish selling pressure, with the current trading above the 50-Day Simple Moving Average indicating a bullish short-term signal, while remaining below the 200-Day SMA indicating a long-term bearish signal.
OGN’s MACD has turned bullish, indicating a strong uptrend with increasing buyer participation.
OGN’s Relative Strength Index (RSI) stands at 61, pointing downwards toward the oversold zone, indicating a potential trend reversal. The coin might experience further retracement if the Bulls give in to the Bears.
Factors Influencing Origin Protocol Market Price
OGN’s total supply stands at 1 billion units, and projects with high token supplies may experience better appreciation if they implement a burning mechanism to reduce the circulating supply.
Crypto coin prices are influenced by supply and demand dynamics. When more sellers are present, it can lead to an oversold market position, resulting in a decrease in price as the equilibrium shifts towards supply.
When buyers outnumber sellers, the asset’s demand exceeds supply, leading to scarcity and potential price increase. Regarding OGN, it’s unclear if the surge in trading volume is due to large selloffs or increased buying pressure.
Origin Protocol Alternative: Launchpad XYZ (LPX)
The meme crypto project, Launchpad XYZ, styles itself as the next $PEPE token. It is an innovative trading analytics platform.
The project aims to make Web3 technology profitable and friendly by offering educational materials, trading analytics and strategies, and much more. LPX is the project’s utility token.
The project founders are industry leaders with vast knowledge in augmented reality, Web3 technology, and cutting-edge technology, artificial intelligence (AI).
When users in Launchpad XYZ stake up to 10 thousand units of $LPX for more than three months, they will get access to the following.
- Trading fees discounts
- Beta Play 2 earns game
- Prestige badges for community members
- Mint Whitelist for new NFTs, among others
Features of Launchpad XYZ
Launchpad XYZ’s developers incorporated fascinating and entertaining features to ensure sustainability and a seamless experience.
These features include NFTs, fractional assets, web3 wallet, plat-to-earn game hub, Launchpad Quotient, decentralized exchange, and many more.
The Play-2-Earn Game Hub
The project’s ecosystem acknowledges gamers’ prowess, allowing them to earn rewards for every victory they obtain. Some users can get entertained by watching others play the platform’s inbuilt games.
$LPX Presale
The asset’s presale has raised more than $1 million since the presale started, demonstrating the massive investor interest in the project. LPX token currently trades at $0.0445.
The price will increase to $0.046. Launchpad XYZ would sell out when the presale reaches the $1.5 million benchmark, which may happen in a few days, given the current achievement. Also, LPX price will increase to $0.0565 on the exchange listing.
LPX has massive upside potential, given its innovative use case and unique approach to crypto trading. Therefore, those who joined the presale could earn massive returns when the project goes public. Interested investors should hurry to the project’s official website to secure a slot before the presale ends.
Also Read:
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- Ripple Coin Looks to Test Monthly High Again Today – XRP Experts Give Their Verdicts
- LPX: Penny Crypto Making Waves with a Million-Dollar Surge – Could This Be the Next 100x Hidden Gem?
- LPX Token: The Next Big Penny Crypto? Crypto Whales Gathering Before Exchange Listing
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