{"id":411098,"date":"2023-06-22T19:07:51","date_gmt":"2023-06-22T19:07:51","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=411098"},"modified":"2023-06-22T20:00:13","modified_gmt":"2023-06-22T20:00:13","slug":"powell-token-skyrockets-by-5600-on-dextools-igniting-excitement-among-crypto-experts-for-wall-street-memes-as-the-next-explosive-crypto-heres-the-inside-scoop","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/powell-token-skyrockets-by-5600-on-dextools-igniting-excitement-among-crypto-experts-for-wall-street-memes-as-the-next-explosive-crypto-heres-the-inside-scoop","title":{"rendered":"$Powell Token Skyrockets by 5600% on DEXTools, Igniting Excitement Among Crypto Experts for Wall Street Memes as the Next Explosive Crypto \u2013 Here’s the Inside Scoop\u00a0"},"content":{"rendered":"

Ever since <\/span>BlackRock and Fidelity Investments<\/span><\/a> showed their interest in acquiring approval for Bitcoin spot ETF, the cryptocurrency market price has taken recovery steps towards the bullish trend.<\/span><\/p>\n

Bitcoin being the mother coin often affects the price movement of altcoins. When it gains, altcoins gain, and when it loses, altcoins also lose. <\/span><\/p>\n

Notably, a new meme token, $POWELL, seemed to have benefitted from the recent investors’ interest in cryptos following the surge in Bitcoin price. <\/span><\/p>\n

$POWELL skyrocketed by 5600% on DEXTools when it reached <\/span>$0.003977<\/span> from $0.00002057 on June 21, 2023. <\/span>Today, June 22, 2023, the Powell token is currently trading on a bullish trend at the price of<\/span> $0.002464 <\/span>as of the time of writing. <\/span><\/p>\n

Brief Overview of $POWELL Token and Its Past and Present Price Action<\/h2>\n

The $POWELL token is a meme crypto project inspired by the U.S. <\/span>Federal Reserve Chair, <\/span>Jerome Powell<\/span>.<\/span><\/p>\n

The project team aims to use the meme token, $POWELL, to honor the Chairman for his useful decisions that impacted the global economy positively. <\/span><\/p>\n

Furthermore, the project team cited that Jerome Powell somehow influenced the decision of BlackRock on Bitcoin<\/a> spot ETF which caused the Bitcoin bull run of June 20, 2023.<\/span><\/p>\n

Notably, the project team<\/span> drew inspiration from some of <\/span>Powell’s statements<\/span><\/a>, <\/span>such as crypto seems to have continuing power and stablecoin is a kind of money.<\/span><\/p>\n

A crypto analytical platform, DEXTools revealed that $POWELL started trading on its terminal on June 21, 2023, at an open price of $0.00002057<\/span>. <\/span><\/p>\n

The Powel token continued with its gain momentum and made a significant surge within that same day, attaining the highest price at $0.003977<\/span>.<\/span><\/p>\n

Notably, after the bullish run, the bulls lost the momentum to sustain the trend. As of today, June 22, 2023, the bears took over, pushing the price down to its greatest lowest at<\/span> $0.001055.<\/span><\/p>\n

$POWELL Likely to Retain its Bullish Trend<\/h2>\n

Notably, the Powell token will likely retain its bullish trend following the signals from some trading indicators in the crypto analytical platform DEXTools.<\/span><\/p>\n

The Powell token is trading above its 50-Day Simple Moving Average (SMA)<\/span>. <\/span>This indicates that the bulls could hold the bullish trend throughout today. <\/span>Notably, the $POWELL has its Relative Strength Index<\/span> at 54.89, moving upwards to the overbought zone (70). <\/span><\/p>\n

If traders buy more Powell tokens, its price level may continue increasing unto it enters the overbought zone (70), which will spark off a trend reversal. <\/span>Nonetheless, the Powell token has its Moving Average Convergence\/Divergence<\/span> indicator at 54.89 below the signal line. <\/span><\/p>\n

This suggests that the market price of $POWELL today will likely fluctuate between $0.002464 and $0.002069, considering its faded red histogram bars. <\/span><\/p>\n

Note the crypto<\/a> market is highly volatile, with frequent price fluctuations. Ensure you have risk management while trading and you have done an in-depth technical analysis to make a trading decision, as the price behavior is likely to change from this prediction. <\/span><\/p>\n

$POWELL Tokenomics and Project Plans<\/h2>\n

The token is built on the Ethereum blockchain, and its tokenomics is as follows, 100 million $POWELL total supply, 6% token reserved for marketing and CEX, 94% for liquidity, and ETH to serve as its liquidity provider.<\/span><\/p>\n

The project team at Powell Token planned to achieve its aim by planning project activities within 3 phases.<\/span><\/p>\n

Phase 1:<\/b><\/p>\n

The team will reveal $POWELL to the world. They will build a strong and loyal community.<\/span> They will also launch DEXTools update and ETH trending and finally seek organic growth and start marketing.<\/span><\/p>\n

Phase 2:<\/b><\/p>\n

Notably, at this phase, the team will start token listing on CoinmarketCap and CoinGecko, launch ETH trending, and embark on intensive marketing to expand its audience.<\/span><\/p>\n

Phase 3:<\/b><\/p>\n

The team will make moves for partnerships, start a large token listing on CEX and run several events.<\/span><\/p>\n

How to Buy Powell Token<\/h3>\n

Interested investors in the project will purchase $POWELL using WETH following some steps below:<\/span><\/p>\n