{"id":531879,"date":"2024-06-05T13:19:02","date_gmt":"2024-06-05T13:19:02","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=531879"},"modified":"2024-06-05T13:19:02","modified_gmt":"2024-06-05T13:19:02","slug":"beercoin-price-prediction-beer-soars-84-as-experts-say-consider-this-degen-solana-meme-coin-rival-for-explosive-upside","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/beercoin-price-prediction-beer-soars-84-as-experts-say-consider-this-degen-solana-meme-coin-rival-for-explosive-upside","title":{"rendered":"BeerCoin Price Prediction: BEER Soars 84% As Experts Say Consider This Degen Solana Meme Coin Rival For Explosive Upside"},"content":{"rendered":"

The BeerCoin price soared 84% in the past 24 hours to trade for $0.0003960 as of 02:32 a.m. EST on trading volume that skyrocketed nearly 270%.<\/p>\n

That took BEER’s market capitalization<\/a> to $350 million before it pared gains to land at about $220 million.<\/p>\n

The surge is attributed to the hype around the BEER ecosystem’s non-fungible token (NFT) retrodrop. BEER NFTs were officially listed and verified<\/a> on Magic Eden<\/p>\n

\"BeerCoin\"<\/a><\/p>\n

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Another bullish fundamental for the BeerCoin price is the recent listing<\/a> on BitPanda trading platform. Amid this hype, the BeerCoin price is up 130% in the past seven days, CoinGecko data<\/a> shows.<\/p>\n

BeerCoin Price Prediction<\/h2>\n

The BeerCoin price exploded past the confines of the ascending parallel channel on the back of a buying frenzy. With this breakout, it recorded a new peak of $0.0004008, with prospects for more gains amid ongoing buying pressure.<\/p>\n

Evidence of the buying pressure is the higher lows on the Relative Strength Index (RSI), suggesting strong and growing buying pressure. The Moving Average Convergence Divergence (MACD) is also well above the orange band of the signal line, reinforcing the bullish thesis.<\/p>\n

Based on the Fibonacci indicator outlook, increased buyer momentum could see the BeerCoin price extend the gains to the next logical target of $0.0005057, earmarked by the 127.2% Fibonacci retracement level.<\/p>\n

\"BeerCoin\"<\/a><\/p>\n

GeckoTerminal: BEER\/USD 4-hour chart<\/a><\/p>\n

On the other hand, if the bears recover the market and seller momentum takes form, the BeerCoin price could retrace. Notably, BEER is already massively overbought, based on the position of the RSI at 88.<\/p>\n

This means it could be due for a pullback anytime soon. However, based on Welles Wilder’s interpretation of the RSI, an asset is only ripe for selling once the RSI crosses below the 70 threshold.<\/p>\n

Until then, therefore, traders may consider leaving their orders open, save for those looking to take new positions on BEER. For this lot, caution is advised as a correction may be imminent.<\/p>\n

Nevertheless, it is worth mentioning that the BEER token’s bullish outlook will only be invalidated upon a candlestick close below $0.0000153. Such a move would constitute a fall of nearly 96% below current levels.<\/p>\n

With the BeerCoin price at a high risk of correction, investors might want to consider new presale Sealana, a Solana meme coin that has surged past $3 million in funds raised.<\/p>\n

Crypto analysts and YouTuber Oscar Ramos has provided a detailed explanation of how it works in an insightful review.<\/p>\n