Rollbit Price Prediction - Is RLB Setting the Stage for Another Massive Pump?

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A huge number of top altcoins have been growing considerably since the start of 2023, which has created a bullish sentiment across the market. Multiple projects and their communities have been taking to social media platforms to post their views or opinions about their investments and the overall market conditions. But one of the most trending news within the crypto industry at the moment is the RLB token’s massive success.

There are hundreds of projects being launched month after month, but only a few manage to actually sustain their operations and thrive under market conditions like the one being seen now. They are often isolated projects that may focus on a certain concept, and may or may not succeed. But a token like RLB was speculated by several investors from the start to perform exceptionally, given its direct relation to one of the most popular crypto casinos at the moment – Rollbit casino.

The RLB Token – Current Price Overview

The RLB token was introduced recently and has already gained a huge chunk of investors, which would be fairly evident for anyone looking at its price chart. Launched for open trading in March 2022, RLB never really got the kind of pump its developers may have initially expected to gain. However, things started to change considerably for the casino token since February 2023.

Within just 16 days, the token has pumped from being merely worth $0.0021 to more than $0.052. It has seen a whopping 2500% increase in price and is undoubtedly one of the best-performing tokens in 2023 yet. At the time of writing, RLB is facing massive volatility and is heavily fluctuating within the $0.041- $0.052 range.

On a daily timeframe too, the token has seen a massive 40% increase, with a volume of more than $4 million. This is impressive for a token like RLB, which has a comparatively smaller market cap of about $160 million.

Rollbit Casino and the RLB Token

Founded in 2020, Rollbit is one of the most popular Bitcoin casinos in the online gambling space. Owned and operated by the Bull Gaming N.V. company, the casino has seen immense growth within the past couple of months, thanks to its wide variety of games hosted by world-famous game providers. The casino has integrated multiple elements into its platform, making it an excellent avenue for trying one’s luck.

The RLB token was created to support some important components and offerings of the Rollbit casino. It is vital to the Rollbit Lottery and is built on the Solana blockchain. The token is expected to act as the entry pass for players to access the Rollbit lottery, which is a very sought-after category within the casino. Essentially, players are expected to stake their RLB tokens in order to enter the lottery, where they can potentially win a share of Rollbit casino’s profits.

The awards will be drawn from the platform’s profit-sharing pool, which will be funded daily with 20% of the casino’s overall profits. RLB offered utility from the start by being an essential component of the lottery, with awards coming from a percentage of Rollbit’s revenues since the token was launched with a tested product and Rollbit already operating at a profit. There are a total of 5 billion RLB coins available, of which around 3.2 billion are currently in circulation.

RLB Price Prediction

The growth of the RLB token depends entirely on the growth of Rollbit as a casino. The only utility of RLB is currently tied to the Rollbit casino’s operations and is the only driving factor for its increasing prices. The current pump is likely to be due to the rising popularity of the casino, and its customer retention, which has impressed a huge chunk of crypto casino enthusiasts. There are several newly integrated features and developments within the platform which makes it an excellent option for many. This has helped investors to look at RLB as an asset of value and potential.

However, one must note that Rollbit is just another Bitcoin casino among a pool of others. While it may be experiencing euphoric growth currently, this may not last forever. Thus, if the casino somehow loses its current trending status, the price of RLB is also likely to fall.

The price of RLB is currently $0.052, which is already way up from its previous levels. This should be considered more of a hype-based pump than organic growth. Surely, the token does show impressive potential and may eventually shape itself as an integral part of the blockchain gambling domain, but it currently does not feature any such utility.

It would be safe for investors to momentarily hold their plans of investing for short-term gains since RLB may have already reached a boiling point and could potentially cool down, bringing its price back to its previous level. $0.04 is the current support for RLB, which is where it may drop down to; if the token really does follow the scenario mentioned before. However, if RLB manages to break its price barrier at $0.55, then it may see a further upside and potentially explore the $0.062 range.

Should One Invest In RLB Right Now?

For each round of staking for entering the RLB lottery, half of the 0.20% staking fee will be burned. RLB will be permanently withdrawn from the supply after each round, resulting in a progressive decrease in the total supply over time, which will support value growth. Rollbots, Rollbit’s NFT project, will receive the other half of the staking fees.

A burn rate of 45% of the total supply each year will be reached once all RLB tokens have been staked. As more RLB is staked, more tokens are burned to participate in the lottery, which results in a bigger reduction in supply. Also, as demand grows over time, RLB’s price is under pressure to rise.

All these factors may eventually lead to the token growing in value. Moreover, it is also possible that the Rollbit team will take into consideration the interest behind the RLB and token and try to bring more utility features to it. While it may be a great option as a long-term investment, investors may want to reassess their decision to park their funds into RLB for short-term gains.

Q3 2023 Rollbit Update

Rollbit has recently hit its all-time high of $0.096. The token has formed many green candles on the price chart thanks to the new interest in Bitcoin casinos.

One of the major forces behind RLB’s growth could have been the recent tweet that showed Plinko players have won 10,000x.

Multiple players slid Plinko's volatility up to total degen and won 10,000x this week 🟠 pic.twitter.com/1jzdx1nRz7

— Rollbit (@rollbitcom) July 16, 2023

The token’s current RSI is above 80, which signifies a major positive sentiment around the crypto gambling platform. How Rollbit performs in days to come will be determined by the payouts of the games it offers.

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