yama Price Prognosis: YAMA Soars 110% as DeFi Integration Matures

Updated: 06 September 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The YAMA price on September 6, at 5:42 am EST, is $0.012, surging above 110% since its launch on September 4. On September 5, its price spiked 550 times in 24 hours, driving investors into an accumulation frenzy.

According to data from CoinMarketCap, its trading volume is up by 176% in the last 24 hours, showing increased buying pressure for the token. But how high can it go?

Multiple Exchange Listing Also Driving Price Gains

MEXC exchange, on September 5, announced another session of Kickstarter, a listing event created by the exchange before launch where users give MX tokens to support their favorite projects.

This event helps to identify high-quality projects and give airdrop benefits to MEXC users. YAMA token is now listed on Kickstarter for voting. Users who vote for YAMA can win free 6.95 million YAMA and 20,000 USDT airdrops.

Also, BitGet exchange, on September 5, announced that YAMA is now available on Bitget Swap, the decentralized trading arm of the exchange.

These listing confirm the rising interest in the crypto community for YAMA tokens and exposes it to millions of users on these exchanges. The exposure is likely a driving force for the increase in the token’s value since September 4.

YAMA Sets New ATH of $0.13

YAMA, on September 6, by 5:56 a.m. EST, attained an all-time high value of $0.013 at a market cap of $12.8 million.

🐺 #YAMA 1️⃣7️⃣ ATH

犬神 is soaring

20M after CEX incoming pic.twitter.com/uiFfq7ziuP

— YamaInuCoin🐺 (@YamaInuCoin) September 6, 2023

According to the developers, 20 million is the next market cap target after the centralized exchange listing, with the price gains likely to be sustained.

YAMA Retreating from Overbought Zone

YAMA has slowed down from its early rally, dropping to $0.011 on the 15-minute chart after attaining an all-time high value of $0.013 a few hours ago.

However, the buyers still control the market and continue pushing for further price gains, as the asset remains in the upper region of the Donchian Channel (DC).

The sharp drop noticed by the long red candle formed was due to an attempt by buyers to take a profit. But a rebound to the upside is expected.

The Relative Strength Index (RSI) shows a value of 60, moving sideways after dropping from the overbought region, which implies that buyers are still active even though sellers made an entry in a shorter time frame (15 minutes).

The Moving Average Convergence/Divergence (MACD) displays a fading buy signal, making it risky to open new long positions. It hints at a possible bearish turn if the traders get greedy and continue to take profit.

Bears at $0.013 Force Price Decline

YAMA encountered stiff resistance at $0.013, forcing a price decline for the asset to return to the $0.009 support level briefly. A drop below this level will return the asset to the $0.008 support level and confirm a bearish trend.

YAMA is trading below the $0.011 resistance level and will have to overcome it to reclaim the $0.012 price level again.

The present price trend suggests that the buying pressure might be fading. However, it is likely a brief retracement for consolidation.

YAMA will likely re-test its all-time high of $0.013 in the coming days if the buyers continue to pile pressure on its price.

BTCBSC Another Alternative for YAMA Investors

While YAMA records exciting gains, investors who missed its early price surge can take advantage of the ongoing BTCBSC presale. Bitcoin BSC is an eco-friendly BEP-20 built on the BNB smart chain.

Rather than engaging in mining, which is energy-intensive, BTCBSC holders can earn passive income through staking. BTCBSC’s total supply is capped at 21 million tokens for the presale.

The presale is in two phases, with the initial phase targeting a soft cap of 4 million tokens available at 99 Cents, with each coin valued at $0.99.

All unsold tokens will then be transferred to the Bitcoin BSC staking contract to preserve the fixed total supply of 21 million tokens.

Staking and Roadmap Make BTCBSC A Potential Crypto Success

Bitcoin BSC supports a stake-to-earn model where rewards will be distributed to users with every block from 69% of the total supply set aside for staking.

Also, these rewards will be distributed over 120 years, showing the developers’ commitment to the project’s longevity.

On September 6, by 7:13 am EST, 6,800 BTCBSC tokens were already staked at an APY of 38,647%, a massive return rate for investors. Staking BTCBSC will prevent massive dumping of the tokens after its listing on exchanges and drive more users to seek rewards in the ecosystem.

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