STPT Price Prediction - Will STPT Recover From Its Downtrend

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STPT has fallen in price massively in the last 24 hours, having suffered a daily price drop of 13.59%. The DAO token is currently trading at $0.04 with a live trading volume of $59 million. The token has a circulating supply of 1.8 billion and the maximum supply of 1.9 billion.

Standard Tokenization Protocol is a blockchain designed to optimize DAOs. The token rose 25% last week, and the current retrace has the crypto community questioning whether it is a good time to invest in this cryptocurrency.

Here is our analysis of this crypto.

Will the STPT Price Hit $0.1?

While the current price retraces is quite large, which was shortly after a 25% pump. These put the general market sentiment about this cryptocurrency in the neutral sector. The Fear and Greed index for this crypto is currently resting at 50 – which makes now a good time to invest in this crypto.

And when it comes to its social indicators, talks show people are discussing this crypto asset a lot, which is sending a strong buy signal for this asset right now.

At the time of writing, STPT is moving above its 200-day simple moving average and the 50-day simple moving average, both of which are signaling buy for this token.

Furthermore, the relatively strong (RSI) of this token is 66, which indicates a neutral position. Note that the RSI of this token yesterday was past 70, which may be why the recent retrace has happened to this asset.

The current chart shows that the $0.1 mark may be possible in the coming months.

STPT Price Technical Analysis

While the intra-day price chart shows STPT trending down, the token’s candle chart from January has been very positive.

The STPT price has risen by 50% since the start of this year, and the token has painted multiple green candles. And while we can chalk it up to Bitcoin’s recent momentum that made it cross $25k as one of the reasons, STPT is a novel crypto with the potential to climb the price charts based on its own merits.

At the time of writing, the token is testing its $0.236 resistance. If STPT finds support, it may move up to test $0.061.

At the time of writing, the critical support levels of STPT are $0.05227, $0.04686, $0.04248, $0.03811, $0.03188, and $0.02394.

If the token doesn’t follow below any of these support levels, it will move up to test further.

However, in order to test $0.1 (0.236 fibs), the token must be up to $0.086, which requires a 35% increase based on the current price.

What is STPT?

STPT is the native crypto of STP – Standardized Token protocol. It is an ecosystem optimized for decentralized autonomous organizations and is developed to help developers create DAO Apps.

The app offers native tools that make DAO app creation simpler and more customizable than most tools available in the market currently. The ecosystem controls the following aspects.

An Aggregated Dashboard

At the heart of this ecosystem is an AI-aggregated dashboard with all the tools tha devs need to create and operate DAO. In addition to standard tools, STP also offers third-party options to devs looking to enhance the capabilities of the tools they create.

DAO Governance

STP protocol is built on the Verse Network, which helps it provide seamless DAO governance for projects that are built on Ethereum and EVM-compatible chains. Here, users will find every information related to DAO creation and operation, from how to create a proposal and how to cast a vote implementing advanced cross-chain properties

Traceability and Transparency for the Data

The technology is able to record on-chain governance activities and merge them with off-chain participation data on-chain from native forums and popular social media platforms like Twitter, Facebook, Telegram, and more.

Cross DAO Interoperability

STP is aiming to make it more viable for people to use multiple chains during their DAO voting. That is why STP also builds bridges to enable seamless partnerships between DAO-based chains. That helps with conjoined votes and community sharing.

DAO-driven Donations are One of Many Reasons to Invest in this Cryptocurrency

Since the narrative of decentralization has gotten strong, multiple cryptocurrency projects are now moving towards taking a DAO-centric approach. STP is standing as one of the few projects that make implementing DAO easier in every ecosystem.

Recently, the project’s DAO on Clique has raised upwards of $10,000 for those whose lives were affected by the recent earthquake in Turkey.

Turkey Disaster Relief DAO on Clique has raised over $10,000 for those who were affected in the devastating earthquake. All donations were donated to @ahbap. For on-chain record and details on the donations👇https://t.co/BYF0lLmWIZ

— STP (@STP_Network) February 21, 2023

More such projects would be coming along. And since the cryptocurrency market is moving with an altruistic zeal, it is projects like STP that hold a lot of value.

STP Alternatives

STPT is a great cryptocurrency project with multiple upsides. This DAO project is particularly suitable for DAO developers who aim to create their own truly decentralized projects that rely on community voting to move forward.

And if you are looking for projects similar to STP, check out our top DAO cryptos to invest in.

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