Supermarket Sweepstakes: SUPER Set to Soar, Slashing to or Surpassing $0.1?

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SUPER’s price on September 7 at 5:15 am EST is $0.04, with a 38% spike in trading volume in the past 24 hours. It also ranks number 8 on Dextools hot pairs within the same time frame.

SUPER’s price has continued to rise since its launch on September 4, with a market cap of $4.24 million showing that the bulls are in control. Can SUPER maintain this price trajectory, or should investors sell now to cash out?

Sweepstakes Platform Utility Attracts More Adoption Spiking SUPER Price

https://twitter.com/supermarketfi/status/1699241245506199793

Supermarket Sweepstakes launched on September 4, leading to an immediate price surge for the token. The developers on September 6 enlightened the crypto community on their project and features.

https://twitter.com/supermarketfi/status/1699241194553741439

According to the Twitter thread, Supermarket Sweepstakes is a decentralized prediction market that enables users to bet on major cryptocurrencies and meme coins, offering users fixed payouts, leverage, and binary options.

The idea behind the project is to create an alternative for users who do not like trading Perpetuals but prefer quick trading outcomes. According to the developers, they remain committed to constantly developing new decentralized tools and games to enhance user experience.

Also, Supermarket Sweepstakes supports Ethereum, Binance Smart Chain, Arbitrum, and Base, making it a multi-chain platform. The SUPER’s utility and the supermarket ecosystem’s rapid growth are likely driving the price gains observed since its launch.

Staking, Super Bridge Likely to Boost Ecosystem Growth, Increase Adoption, Price

Supermarket Sweepstakes also supports the staking of $SUPER tokens for additional revenue. Users that stake their tokens will earn a share of 9% of the platform fees paid in ETH and 1% of the trading volume taxes (10% of the total tax on buy and sell orders).

Also, the Super Bridge is a cross-chain bridge on the platform that enables the interlinking of different blockchains and will be launched before the end of 2023. These innovations are likely driving the crypto community’s adoption of tokens and boosting its price.

Supermarket Sweepstakes Betting Model Attractive to Crypto Gamblers

Supermarket Sweepstakes is poised to benefit from the crypto gambling niche, a billion-dollar industry. Users can bet and predict if a token will increase or decrease in value within a specific time range.

Most trading portals require users to purchase tokens from DEXs or CEXs, hold them in a wallet, and sell them. Only tokens with a large volume and sufficient liquidity can be traded without holding the tokens.

However, Supermarket Sweepstakes enables users to place predictive buy and sell trades without holding tokens, simplifying the process.

Participants who predict correctly will receive a determined percentage of the pooled funds based on their bet amounts. This feature will likely appeal to crypto gamblers and drive more users to adopt SUPER tokens, thus boosting their value.

SUPER Buyers Taking Profit After Price Surge

Despite slight dips on the hourly chart, SUPER shows signs of progressive increase after its September 4 launch. The buyers are keen to take profit as the sudden spike from $0.01 to $0.04 presents the opportunity for massive rewards for early investors.

However, SUPER’s price outlook is still bullish. It trades in the upper region of the Donchian Channel (DC), confirming that the buyers are still in control of its price.

Also, the Relative Strength Index (RSI) displays a value of 64.63, slightly dipping from the overbought region of 70 due to a slight increase in selling pressure.

The Moving Average Divergence/Convergence (MACD) rises above its signal line, showing the asset is overbought. However, the fading Histogram bars mirror the slight retracement ahead.

SUPER Struggles With $0.042 Resistance Level

SUPER turned the $0.032 resistance level to support as buyers mounted pressure on its price, driving it to $0.04. However, it encountered resistance at the $0.043 price level as buyers began to take profit, leading to a price decline confirmed by three consecutive red candles.

If the sellers continue their charge, SUPER will return to the $0.032 support level, likely preventing further price decline. Based on the prevalent sentiment, SUPER will likely retrace to $0.032 before resuming its rally in the coming days.

SUPER rewarded its initial investors based on its present price performance. However, investors can use Bitcoin BSC presale as the bears begin to act on its price.

SUPER’s Alternative Bitcoin BSC

Bitcoin BSC offers investors a second chance to join a promising crypto project. Bitcoin BSC relies on a staking mechanism to distribute rewards to its users from 69% of its total supply reserved as staking rewards.

Users can buy their BTCBSC tokens and stake them at an APY of 3482%. At 6:57 a.m. EST on September 7, over 75,000 tokens were staked, with the rewards set at 0.25 per BSC block.

BTCBSC Presale

https://twitter.com/Bitcoinbsctoken/status/1699696572513071605

Approximately $128,000 has been raised from the presale soft cap goal of $4 million. Users can purchase BTCBSC tokens at $0.99 by connecting a secure crypto wallet to the purchase page and completing the process with ETH or USDT tokens.