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A cryptocurrency, Request, has seen an impressive increase of almost 29% since yesterday. This significant price jump has sparked speculation among investors, leading some to suggest that Request may become the next “Pepe Coin” phenomenon.
Request is a platform created to re-structure the payments system making it less complicated by bypassing the need for intermediaries in cryptocurrency transactions.
Typically, the expenses associated with utilizing cryptocurrency platforms stem from the payment process, where substantial fees are imposed by third-party entities facilitating currency conversions across different global currencies.
However, Request revolutionizes this landscape by eliminating the requirement for third-party conversion systems and wallets. According to CoinMarketCap info, REQ is listed on top crypto exchanges such as; Coinbase, Binance, crypto.com, Bancor, and many others.
The REQ token powers the Request Network open-source protocol via a few mechanisms: anti-spam; governance; staking; discounts; independency.
Request Coin (REQ) Recent Price Action
As of July 1, 2023, Request (REQ) started trading at $0.088611, reflecting its market value at that specific time. 13 days later, Request (REQ) witnessed a price decline of approximately 20%, sending the coin to $0.070780.
The coin maintained the price level till the end of the month, when it was trading at $0.075355, representing a slight increase of 6.46%. Since the beginning of this month, Request coin (REQ) has been showing bullish momentum in its price.
Analyzing the price movement over the last seven-day trading period, Request (REQ) lowest price point was on June 1 when the asset was trading at $0.078547.
Since then, the price of Request (REQ) has been on a constant bullish movement and a potential upward trend.
Furthermore, using the last seven price marks of $0.076167, Request (REQ) is on a bullish trend, increasing by 5.1%.
In fact, over the last 24 hours, REQ has experienced a notable increase of 29.40%. However, a slight bearish sentiment prevails in the overall cryptocurrency market.
Its live market capitalization is valued at $100,443,987, indicating the total worth of Request (REQ) in circulation. Furthermore, the 24-hour trading volume is surging massively, increasing over 2,000%, to its value of $3,009,801.
The circulating supply of Request coins stands at 999,755,996 REQ, representing the number of coins actively available for trading and transactions.
According to data from CoinMarketCap, the circulating supply of Request (REQ) is nearly depleted, with the current supply level resting at an impressive 99.99%.
This indicates that a substantial majority of the total supply of REQ tokens has already been released into circulation.
The near exhaustion of the circulating supply suggests a limited availability of REQ tokens in the market, potentially impacting trading dynamics and contributing to price volatility.
With a scarcity of available tokens, investors and traders may closely monitor the supply-demand dynamics of REQ in their market activities.
Simple Moving Average & MACD Shows Bullish Sentiment
The Request coin (REQ) trades above the 50-Day and 200-Day Simple Moving Average indicators, suggesting a bullish sentiment and a potential buy signal.
This indicates that the asset is on a bullish trend both in short-term and long-term price movement. Traders may interpret this as a potential buy opportunity and a long-term bullish trend.
However, despite the death-cross on April 16, which sent the coin to a low of $0.0695 on June 12, the bulls still built up momentum and took back the market.
This mirrors the current high buying pressure present in the asset.
Furthermore, the Moving Average Convergence Divergence (MACD) is currently above the signal line, suggesting high pressure from the bulls.
Additionally, the histogram bars are above zero and showing green, confirming the bullish sentiment in the Request (REQ) market.
The Simple Moving Average and Moving Average Convergence Divergence signal bullish momentum, presenting buying opportunities for traders and investors.
BB and Stoch RSI Signals Possible Retracement
According to the chart, Request (REQ) is trading above the upper band of the Bollinger Bands indicator, which suggests that the asset’s price is currently in an uptrend.
This indicates that the asset’s price is generally higher than its average, signaling positive momentum and a potential trend reversal.
Additionally, REQ has a Stoch RSI value of 84.32, which suggests that the asset is potentially overbought and near the upper end of its recent price range.
The Stoch RSI indicator combines the Stochastic Oscillator and Relative Strength Index (RSI) to provide insights into an asset’s momentum and overbought/oversold conditions.
With a value of 84.32, traders may interpret it as a signal for a potential reversal or a period of consolidation in the asset’s price.
Traders and investors should not rely solely on technical indicators for making investment decisions, as the broader crypto market is highly volatile.
Experts’ Price Prediction on Request Coin (REQ)
Based on the Request Network price forecast by Coincodex, it is anticipated that the value of Request Network will decline by approximately 17.42% and reach $0.085039 by July 12, 2023.
According to Coincodex, the prevailing sentiment is optimistic, while the Fear & Greed Index reflects a value of 55, indicating greed.
Over the past 30 days, Request Network has had 15 out of 30 (50%) positive price movements, demonstrating a volatility of 4.48%.
Coincodex predicted that the price of REQ could hit the $3 milestone by 2026 if its growth trajectory follows the growth of Facebook.
However, if REQ follows the growth of the internet, Coincodex predicted that the asset will reach $0.372526 by the same 2026.
According to Ambcrypto’s short-term price projection, the average price of Request (REQ) would be $0.017, while its highest possible price is anticipated to reach $0.018 by September 2023.
Moreover, as per analysis conducted by Ambcrypto, the long-term forecast for Request (REQ) predicts that by January 2024, the average price of REQ is projected to be around $0.15.
It is also suggested that the highest possible price for REQ in January 2024 could reach $0.16.
According to BitcoinWisdom, Request (REQ) is anticipated to increase significantly, possibly reaching $0.143718 by the second half of 2023. BitcoinWisdom emphasized that the asset will gradually be like other notable cryptocurrencies.
Factors Affecting the Price of Request (REQ)
Several factors can influence the price of Request (REQ) coins. These include market sentiment towards cryptocurrencies, overall demand for REQ tokens, developments, and partnerships within the Request network.
Here’s a common factor that will likely affect the price of Request (REQ);
- Sentiments are crucial factors that can significantly impact the Request (REQ) coin price.
- Increased demand from investors and users seeking to utilize the Request network and its services can drive up the price of REQ tokens.
Positive sentiments surrounding the project, such as favorable news, partnerships, or developments, can generate investor enthusiasm and contribute to bullish market sentiment, potentially leading to higher REQ prices. Conversely, negative sentiment or a decline in demand may exert downward pressure on REQ’s price.
Request Alternative (yPredict)
The yPredict project is an advanced trading platform that enables crypto enthusiasts, traders, and investors to access many AI-powered analyzing tools.
yPredict, a decentralized prediction market platform, aims to revolutionize how predictions are made and traded.
The innovative venture combines AI and machine learning technology to provide users with real-time trading signals, enhancing their ability to make informed trade decisions.
Furthermore, investors can take advantage of user-friendly automated indicators offered by the platform.
The system automatically selects optimal indicators by leveraging past performance, saving time, and ensuring effective trading strategies.
YPredict being powered by the Matic polygon enhances investor trust and efficiency.
The project’s backlink estimator accurately predicts backlink counts, authority metrics, and data-driven decisions, giving YPredict a competitive edge.
With exclusive features like transactional data analysis and automated chart pattern recognition, the trading platform aims to transform how crypto traders interpret data.
Moreover, the platform’s market sentiment, chart patterns, and crypto price trend data are known for their reliability.
Additionally, the presale allows participants to acquire yPredict tokens (YPRED) early, potentially offering early adopters certain advantages.
These tokens will serve as the utility and governance token within the yPredict ecosystem.
Holders of (YPRED) can participate in prediction markets, vote on platform decisions, and potentially earn rewards for accurate predictions.
The yPredict presale allows investors to get involved in this innovative project and potentially benefit from its future growth and success.
Currently, the presale is in stage 6, and it remains just a few days before the presale event will be officially closed.
On May 24, 2023, Yahoo Finance reported that $YPRED successfully raised an impressive $1,655,000 million and progressed to its 6th presale stage.
Furthermore, the token price experienced a rise from 0.07 to 0.09.
The project has surpassed the significant milestone of USD 2.8 million at $0.09 during its ongoing presale. The token is anticipated to be listed on several cryptocurrency exchanges at a given price of $0.12.
The demand for $YPRED is growing, with a strong community of over 20,000 members actively participating on the platform.
Investors are advised to remain vigilant and not miss out on this opportunity as the presale continues to witness a remarkable demand for yPredict’s $YPRED coin.
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