OXT Makes Unusually Strong Gains The Next Pepe Coin?

Orchid OXT has recently experienced remarkable and unusually strong gains, sparking speculation about its potential future trajectory.  This surge has led some to compare OXT and the highly successful Pepe Coin ($PEPE). 

As traders and enthusiasts closely monitor OXT’s performance, there is growing anticipation regarding whether it could emerge as the next Pepe Coin phenomenon. 

However, it is essential to exercise caution and conduct thorough research before making investment decisions, as digital currency markets are inherently volatile and subject to rapid fluctuations.

Orchid ($OXT) Price Movement Since January

According to CoinGecko data, $OXT started the year at $0.067628 on January 1, 2023. The price of $OXT increased significantly by over 14.59% to $0.077858 on January 18, 2023.

The coin later pumped again by 21.82%, taking the coin to a high of $0.094779 at the end of the month. Throughout February, the price fluctuated between $0.09 and $0.10, reflecting the bullish market. The coin closed in February at $0.097895.

In March, the coin witnessed a light bearish pressure at the beginning of the month that sent the coin to a low of $0.082099 on March 10.

However, the bulls regained the market at the end of the month and pushed the price of OXT to $0.090888, representing a notable increase of 10.69%.

In April, OXT was traded between the $0.09 and $0.08 price region due to the high volatility present in the market. The coin closed the month with bearish pressure, sending the asset to $0.079745.

In May, OXT encountered high bearish pressure, sharply declining to $0.067933 on May 19 before closing the month at $0.067532. The bearish sentiment increased massively in June, sending OXT to a low of $0.057928 on June 08.

The asset when further down to a low of $0.04796327 in June before closing the month at $0.04983385. However, the coin has been signaling bullish momentum since the beginning of July, increasing to the $0.05 price mark.

Currently, the asset is trading at $0.0606, representing a significant increase of 15.67% within the last 24 hours session. According to CoinMarketCap, the coin is experiencing a notable increase in its 24-hour trading volume of about 3,000% representing its value of $34 million.

Also, its market capitalization is currently showing a notable increment of 15.50% to $59 million. This notable increment in price, trading volume, and market cap suggests a significant surge in investor interest and demand for the asset. 

This combination indicates a substantial increase in trading activity and liquidity, potentially reflecting a strong bullish sentiment and attracting attention from market participants.

According to Etherscan, a smart contract analysis tool, recent data reveals that the general token holders of the coin witnessed a notable surge of 0.060% over 24 hours. This increase represents the current number of holders, which now stands at 43,267 individuals. 

Comparatively, the previous count of token holders stood at 43,246, indicating a modest but visible rise in the number of individuals holding the coin within the specified timeframe.

This data suggests a potential increase in interest and participation from new investors or existing holders acquiring additional tokens.

Technical Indicator Signals Bullish Pressure

According to the chart above, OXT is currently trading above the upper band of the Bollinger Bands Indicator, suggesting a high bullish sentiment and pressure.

This indicates that the bulls are increasing momentum, pushing the price of OXT higher toward its significant resistance level.

The Relative Strength Index (RSI) is currently at 62.59, suggesting a neutral market yet rising bullish momentum as the RSI is heading towards the overbought zone of 70.

Also, the Moving Average Convergence Divergence (MACD) is trading above the signal line, suggesting a presence of bullish sentiment and a potential buy signal.

The histogram bars are currently showing green and trading above zero level, which further confirms the bullish sentiment present in the market. It is important to note that the crypto market is highly volatile, and prices of crypto assets may change at any given point in time.

It is prudent for investors to exercise caution and evaluate additional market indicators before making any investment choices.

Key Price Levels

OXT bears have been struggling to break through the primary support level of $0.0481, but it seems the bulls hold their respective positions strongly. 

Traders and investors are closely watching the primary support and resistance level of ($0.048 & $0.0838) for potential price breakout. However, if OXT breaks below the $0.048 support level, it could signal a bearish trend, and traders may look for selling opportunities. 

Conversely, if OXT breaks above the significant resistance level of $0.0838, it will trigger a bullish trend. 

Orchid ($OXT) Alternative (Thug Life)

Thug Life is a cryptocurrency project that aims to compensate crypto enthusiasts who have experienced offenses and scams throughout their cryptocurrency journeys. 

The project presents as a movement that unites individuals who embrace hustling with a sense of humor and camaraderie. Thug Life introduces a token called $THUG, representing the collective spirit of internet hustle, boundless love, comedy, and resilience against online trolls. 

The strength of the brotherhood supports this token found in the streets, making it a meme token accessible to everyone. With the unity fostered within the community, Thug Life’s token is expected to achieve significant milestones in the future.

Furthermore, Thug Life has established itself as a social meme coin, incorporating the essence of hip-hop culture into the cryptocurrency industry. 

This fusion is particularly fitting due to the diverse appeal of both elements. The cryptocurrency space encompasses various interests, including finance, gaming, social lifestyles within the Metaverse, and various other aspects. 

Similarly, hip-hop culture is a renowned music genre that has evolved, blending different styles. Its distinctive features, such as rhythmic speech, rhyming, rapping, and break dancing, resonate with listeners and create a captivating vibe.

Thug Life initiated its presale in June 2023, generating $45K within hours since its commencement. The presale has gained significant attention and considering the enthusiasm surrounding it and the community’s support, it has the potential to achieve similar performance levels as Wall Street Memes and PEPE meme tokens or even surpass them. 

Notably, the presale reached an impressive milestone of $275,000 within just one week, indicating a growing interest from investors in the project.

As of the time of writing, Thug Life is being traded at a price of $0.007, and it offers a single stage for its presale. Today, on July 4, 2023, the presale reached an impressive $327,402.54. It’s important to note that the presale may conclude once it reaches its targeted threshold of $2,058,000.

How to participate in the presale

Follow the procedures below to join the Thug Life presale event:

1. Visit the Thug Life official website and navigate through the site on the presale section.
2. Select the cryptocurrency you want to buy with (ETH or USDT are the most preferred).
3. Type in the amount of crypto you desire to swap with $THUG in the space provided, then click on the button [Buy Now] to proceed to the next stage.
4. A new page will pop up telling you to connect your wallet. 
5. Select your desired wallet and then validate the transaction to proceed.

If the transaction is successful, you will be notified shortly after the process is completed.