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The Pirate Nation price surged over 72% in the past 24 hours to trade at $0.3269 as of 4:45 a.m. EST as investors rush to buy the altcoin.
The meteoric rise experienced by the PIRATE price comes after the crypto secured a listing on the leading US exchange, Coinbase.
Coinbase will add support for Pirate Nation (PIRATE) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️ (@CoinbaseAssets) June 13, 2024
Pirate Nation is an a16z-backed Proof of Play’s crypto game.
A Bearish Pattern Forms On The Pirate Nation Price Chart
1-hour chart for PIRATE/USDT (Source: TradingView)
The Pirate Nation price was able to break above the $0.2910 resistance level over the past couple of hours. After breaching this technical barrier, the crypto soared to a high of $0.3749. Investors have since taken profit, resulting in a new resistance forming at the $0.3749 peak.
Traders might want to be cautious, as a bearish rising wedge has formed on the crypto’s hourly chart. This is after the Pirate Nation price printed higher lows and lower highs over the past 12 hours, suggesting that PIRATE is losing bullish steam and might be at risk of a correction soon.
If this pattern is validated, the crypto could seek support from the recently-breached mark at $0.2910. This is a crucial level to watch, because it is also confluent with the lower boundary of a positive price channel that has formed on PIRATE’s chart.
The Pirate Nation Price Could Exit Its Bullish Channel
Therefore, a break below $0.2910 might indicate that the Pirate Nation price has exited its bullish cycle. Traders could subsequently look to enter into a short position for the crypto. This potential sell pressure might then lead to PIRATE plunging to as low as $0.2040 in the following few hours.
On the other hand, the Pirate Nation price overcoming the $0.3749 barrier could invalidate the bearish pattern. In this alternative scenario, PIRATE will not only have set a new all-time high, but will also have a strong technical foundation to potentially rise off from. As a result, the altcoin could enter into a price discovery phase towards the upside.
While the Pirate Nation price attempts to break out of the bearish rising wedge pattern, investors are flocking to the play-to-earn Dogecoin derivative PlayDoge (PLAY) with some experts saying it might be the best crypto to buy now.
A Gaming Classic With A Modern Twist
PlayDoge is a play-to-earn project that is based on the viral Tamagotchi game. Back in the 90s, these virtual pets were a hit, with more than 82 million units sold globally.
Now, PlayDoge is looking to reignite the hype around these virtual animals by introducing a version of the game with much more interesting gameplay that is enabled through tokenization.
With its implementation of blockchain and crypto technology, players are able to earn PLAY tokens by taking care of their digital companions.
PlayDoge also offers smartphone support, which means that players can interact with their pets on the go.
Charging Towards $5 Million
Investors are betting big on PLAY during its presale phase, with more than $4 million sent to the token’s ICO in just the first 2 weeks of it going live. The frenzy around the meme coin shows no signs of slowing down just yet, with the presale on-track to achieve the $5 million milestone soon.
Crypto YouTuber ClayBro recently analyzed the meme coin in a video titled “PlayDoge Is Going To Be The Best Play To Earn Game In Crypto! Get Ready For Gains In Play Doge!”
In addition to the crypto’s speculative potential, investors are likely also flocking to PLAY’s presale because of the attractive staking opportunity available to anyone who purchases the token at this early stage. The team is offering presale buyers who lock up their tokens a competitive APY of 198%.
To get in on this opportunity, investors can utilize the easy-to-use buy widget embedded on the project’s official website. PLAY is currently selling for $0.00507, and can be bought using either Ethereum (ETH), Tether (USDT), Binance Coin (BNB) or bank card.
Anyone looking to buy the meme coin might want to act fast because the crypto’s price is scheduled to increase in less than three hours.
Purchase PLAY here before its next price increase.
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