Red Hot Cock's Fiery Flight: RHC Set to ToRHC Previous Highs

Red Hot Cock’s Fiery Flight: RHC Set to ToRHC Previous Highs

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Updated: 06 June 2024

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Red Hot Cock (RHC) is on a bearish trend today, according to DexTools.io, dropping by more than 30% in the last 24 hours.

RHC is a fairly new crypto, which explains the volatility witnessed in the last few days. The broader cryptocurrency market is also trading in the red today, with the global market cap down by 1.1%.

Despite the recent uncertainty affecting the performance of most cryptos, new meme coin projects have been making waves. RHC is one of these new coins attracting traders who want to make quick profits.

Data from DexTools.io shows that RHC has posted trading volumes of around $713K in the last 24 hours. The high volumes show that interest in RHC is still high. Social activity is also mounting, with RHC among the trending coins on DexTools.io.

Red Hot Cock Gears For A Recovery To Previous Highs

RHC posted major gains on September 9. During the day, the token rallied to an all-time high of $0.0000379. However, the jump to these record highs was a false breakout, as a sharp correction happened shortly after.

After this rally, RHC sharply dropped to $0.0000157. This plunge attracted some buyer activity with a swift recovery past the $0.000030 level.

Bulls were not strong enough to hold levels at $0.000030 and above. By September 10, RHC had already dropped to $0.0000134. The drop has been gradual in the last few days, with the volumes largely attributed to selling activity.

At the time of writing, RHC was trading at $0.00000761. The decline will likely continue, and RHC will test a critical support level at $0.0000050. The price drop attracted some buying activity, but the uptrend was rejected at the $0.0000086 resistance level.

The Relative Strength Index at 53 shows some buying activity, hence the green candle formation. The RSI line is also tipping north, signaling that more gains might come.

New Stake-To-Earn Crypto Set For 10x Gains As Presale Surpasses $1.2M

Crypto traders are rushing to the Bitcoin BSC presale that has already raised more than $1.2 million a week after launch.

The project has garnered much interest because of its innovative crypto-staking solutions. Investors are also rushing to participate because of the project’s potential to deliver massive gains.

The BTCBSC presale is expected to create a supply shortage in the open market, which could deliver significant long-term gains. BTCBSC is currently available for $0.99 – the price Bitcoin last traded at in 2011.

Bitcoin BSC runs on the BNB Chain, making it a BEP-20 token. Running on the BNB Chain makes Bitcoin BSC a cost-effective transaction system that supports affordable transaction fees compared to Bitcoin and Ethereum.

https://twitter.com/Bitcoinbsctoken/status/1701264416300245342

According to the Bitcoin BSC whitepaper, 69% of the total token supply will go towards reward distributions. The staking rewards will cease around the same time Bitcoin is thoroughly mined.

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