Crypto Banter Signals
Price target
Considering FLUXB is consolidating, we'll take the $0.07 level (1st retest range) as the entry price.
This equates to a $35 million FDV.
Based on sustained FluxBeam TVL growth at the same rate (or better), a reasonable valuation for FLUXB is around the $200 million FDV region. This seems low, but ultimately, it's a token related to the FluxBeam DEX, not the actual DEX token.
This relates to a price of $0.4 per FLUXB.
Entering FLUXB at $0.07 gives you a reasonable shot at a 6x upside.
Price target
Considering FLUXB is consolidating, we'll take the $0.07 level (1st retest range) as the entry price.
This equates to a $35 million FDV.
Based on sustained FluxBeam TVL growth at the same rate (or better), a reasonable valuation for FLUXB is around the $200 million FDV region. This seems low, but ultimately, it's a token related to the FluxBeam DEX, not the actual DEX token.
This relates to a price of $0.4 per FLUXB.
Entering FLUXB at $0.07 gives you a reasonable shot at a 6x upside.
Crypto Banter Signals
GH0ST was the first project to use the new SPL-22 token standard. It launched as a proof of concept, championing the idea of making fair token launches even fairer.
The collection, consisting of 21,000 NFTs, each holding 1000 GH0ST tokens, was launched to showcase the capabilities of this new token standard.
Removing the need for secondary infrastructure and token extensions (also known as Token2022, from which SPL-22 is derived) significantly reduces minting costs, as NFT mints no longer have to transact using Metaplex on mint.
Additionally, adding a built-in fee to each mint enhances the user experience for new minters and their relationship with the project. The funds from this fee go directly to the token LP, increasing the liquidity available for trading new tokens immediately.
The beauty is that, through SPL-22, all token launches, whether NFTs or fungible tokens, can be executed similarly by changing a few parameters (fee %, etc.).
In terms of tokenomics, GH0ST has an FDV of $4.1 million. If FluxBeam is the flagship DEX, GH0ST is the pioneer coin of SPL-22.
Here's the contract address for GH0ST - HbxiDXQxBKMNJqDsTavQE7LVwrTR36wjV2EaYEqUw6qH
Analysis
Straight forward for Ghost.
Price action has been dead for a while, but the token is continuously bouncing from the order block, from which it initially skyrocketed. Now, technically, the green box is a good range to build a position, i.e., between 0.066 and $0.17. Trading volume is currently 10% of the total market cap, meaning it can pump hard if it pumps now.
Price target
Given its novel status, from the current price of $0.194, we anticipate GH0ST reclaiming all-time highs of around $1.2 as a base case.
This places the FDV at $25.2 million - 6.2x from the current prices.
GH0ST was the first project to use the new SPL-22 token standard. It launched as a proof of concept, championing the idea of making fair token launches even fairer.
The collection, consisting of 21,000 NFTs, each holding 1000 GH0ST tokens, was launched to showcase the capabilities of this new token standard.
Removing the need for secondary infrastructure and token extensions (also known as Token2022, from which SPL-22 is derived) significantly reduces minting costs, as NFT mints no longer have to transact using Metaplex on mint.
Additionally, adding a built-in fee to each mint enhances the user experience for new minters and their relationship with the project. The funds from this fee go directly to the token LP, increasing the liquidity available for trading new tokens immediately.
The beauty is that, through SPL-22, all token launches, whether NFTs or fungible tokens, can be executed similarly by changing a few parameters (fee %, etc.).
In terms of tokenomics, GH0ST has an FDV of $4.1 million. If FluxBeam is the flagship DEX, GH0ST is the pioneer coin of SPL-22.
Here's the contract address for GH0ST - HbxiDXQxBKMNJqDsTavQE7LVwrTR36wjV2EaYEqUw6qH
Analysis
Straight forward for Ghost.
Price action has been dead for a while, but the token is continuously bouncing from the order block, from which it initially skyrocketed. Now, technically, the green box is a good range to build a position, i.e., between 0.066 and $0.17. Trading volume is currently 10% of the total market cap, meaning it can pump hard if it pumps now.
Price target
Given its novel status, from the current price of $0.194, we anticipate GH0ST reclaiming all-time highs of around $1.2 as a base case.
This places the FDV at $25.2 million - 6.2x from the current prices.
Crypto Banter Signals
💥BREAKING: #Bitcoin just flipped Silver in market cap.
💥BREAKING: #Bitcoin just flipped Silver in market cap.
Crypto Banter Signals
Arbitrum has been grabbing the headlines recently, but not for all the right reasons.
The L2 scaling protocol is bracing its community for a massive token unlock on March 16. 1.1 billion ARB tokens will be distributed to the project’s team, advisors and investors, raising the circulating supply by 87%.
1.1 billion ARB tokens are currently valued at over $2.4 billion. The common consensus in the market is that the unlock event will cascade selling pressure on ARB’s price. Yet, nothing is certain at the moment.
In this market update, we will examine a few scenarios and identify whether ARB is actually going to face a potential sell-off period after the unlock event.
----- To Read more, join The Confidential Circle ----
Arbitrum has been grabbing the headlines recently, but not for all the right reasons.
The L2 scaling protocol is bracing its community for a massive token unlock on March 16. 1.1 billion ARB tokens will be distributed to the project’s team, advisors and investors, raising the circulating supply by 87%.
1.1 billion ARB tokens are currently valued at over $2.4 billion. The common consensus in the market is that the unlock event will cascade selling pressure on ARB’s price. Yet, nothing is certain at the moment.
In this market update, we will examine a few scenarios and identify whether ARB is actually going to face a potential sell-off period after the unlock event.
----- To Read more, join The Confidential Circle ----
Crypto Banter Signals
BITCOIN WEEKLY TIME FRAME TECHNICAL ANALYSIS🔔
Bitcoin recently broke its previous all-time high of $69,028 and reached $73,773.
Currently trading above the strong support zone of $64,500 to $66,300, which is considered a very strong support zone.
Weekly closing today, Bitcoin needs to maintain its position above the mentioned support zone.
Two scenarios are considered:
If this week's candle closes above $64,500, a bullish move toward $94,500 is anticipated in the upcoming week.
If it closes below the support, there's a possibility of dropping to $38,500 to $40,000.
The question arises: whether the drop occur before or after the halving event?
It's advisable to be prepared for a potential drop before the halving, as historically, the market tends to shake out less experienced traders before the real bull run begins.
BITCOIN WEEKLY TIME FRAME TECHNICAL ANALYSIS🔔
Bitcoin recently broke its previous all-time high of $69,028 and reached $73,773.
Currently trading above the strong support zone of $64,500 to $66,300, which is considered a very strong support zone.
Weekly closing today, Bitcoin needs to maintain its position above the mentioned support zone.
Two scenarios are considered:
If this week's candle closes above $64,500, a bullish move toward $94,500 is anticipated in the upcoming week.
If it closes below the support, there's a possibility of dropping to $38,500 to $40,000.
The question arises: whether the drop occur before or after the halving event?
It's advisable to be prepared for a potential drop before the halving, as historically, the market tends to shake out less experienced traders before the real bull run begins.
Crypto Banter Signals
The Solana ecosystem has been ripping in adoption and price performance recently.
Understandably, the network offers cheap transactions, a great UX, and astonishing speed. Many projects in the Solana ecosystem—from DEXs to meme coins—have shown strength and rewarded investors with gains.
AI is another winning narrative. AI projects became interesting after ChatGPT launched, and AI coins became popular after OpenAI introduced Sora.
The potential of AI to significantly impact our daily lives has captured the interest of investors.
Today, we will dive deep into a project trying to solve one of the main blockers in the development of AI.
Unsurprisingly, this project is also on Solana. So, can this project combine Solana's winning narrative with the AI narrative to deliver impressive gains in this bull run?
Let's find out.
The Solana ecosystem has been ripping in adoption and price performance recently.
Understandably, the network offers cheap transactions, a great UX, and astonishing speed. Many projects in the Solana ecosystem—from DEXs to meme coins—have shown strength and rewarded investors with gains.
AI is another winning narrative. AI projects became interesting after ChatGPT launched, and AI coins became popular after OpenAI introduced Sora.
The potential of AI to significantly impact our daily lives has captured the interest of investors.
Today, we will dive deep into a project trying to solve one of the main blockers in the development of AI.
Unsurprisingly, this project is also on Solana. So, can this project combine Solana's winning narrative with the AI narrative to deliver impressive gains in this bull run?
Let's find out.
Crypto Banter Signals
TLDR
The development of AI will require cheap and accessible computing power.
This project is a decentralised crowd-computing platform powered by the Solana network.
A surge in demand for compute has led to a rise in positive price for this token.
There's a potential 20x upside as the demand for compute continues to increase and AI applications go mainstream.
TLDR
The development of AI will require cheap and accessible computing power.
This project is a decentralised crowd-computing platform powered by the Solana network.
A surge in demand for compute has led to a rise in positive price for this token.
There's a potential 20x upside as the demand for compute continues to increase and AI applications go mainstream.
Crypto Banter Signals
A quick primer on AI x Crypto
We have already seen massive gains in a board of AI tokens, but is there any more potential?
To be frank, crypto AI is still small. The total market capitalisation of AI-related tokens is just over $40b. It is nothing compared to the projected $10+ trillion capitalisation.
What that means is that there is still a massive upside in crypto.
If you are bullish on AI, you likely have a similar stance on GPUs, as AI applications demand substantial computational power. Nevertheless, the current scarcity of GPUs impedes the advancement of AI applications. Researchers, institutions, and individuals don't have access to a cheap way of training their AI models.
In 2-3 years, if the demand for AI continues to surge, the need for GPUs will grow even more significantly. This disproportionate increase in GPU demand could be attributed to the expanding complexity and sophistication of AI models, which necessitate higher computational resources.
As AI becomes more deeply integrated into our daily lives, the need for GPUs will only continue to grow.
Currently, several centralised players are trying to tackle the problem (E.g. Nvidia, Microsoft)
However, decentralised DePin platforms can offer better alternatives that are cheaper and more innovative.
Therefore, we remain extra bullish on decentralised compute providers, especially on assets showing incredible strength.
We present you with a deep dive into the asset that has been making rounds on our trading floor.
A quick primer on AI x Crypto
We have already seen massive gains in a board of AI tokens, but is there any more potential?
To be frank, crypto AI is still small. The total market capitalisation of AI-related tokens is just over $40b. It is nothing compared to the projected $10+ trillion capitalisation.
What that means is that there is still a massive upside in crypto.
If you are bullish on AI, you likely have a similar stance on GPUs, as AI applications demand substantial computational power. Nevertheless, the current scarcity of GPUs impedes the advancement of AI applications. Researchers, institutions, and individuals don't have access to a cheap way of training their AI models.
In 2-3 years, if the demand for AI continues to surge, the need for GPUs will grow even more significantly. This disproportionate increase in GPU demand could be attributed to the expanding complexity and sophistication of AI models, which necessitate higher computational resources.
As AI becomes more deeply integrated into our daily lives, the need for GPUs will only continue to grow.
Currently, several centralised players are trying to tackle the problem (E.g. Nvidia, Microsoft)
However, decentralised DePin platforms can offer better alternatives that are cheaper and more innovative.
Therefore, we remain extra bullish on decentralised compute providers, especially on assets showing incredible strength.
We present you with a deep dive into the asset that has been making rounds on our trading floor.
Crypto Banter Signals
Nosana
Nosana is a decentralised crowd-computing platform powered by the Solana Network. It aims to revolutionise how software automation pipelines are executed using community-contributed compute resources to run tasks for open-source projects and other users.
We have already discussed the shortage of GPUs and projects that are trying to solve them.
Nosana also addresses the global GPU shortage problem by creating a decentralised GPU compute grid. This grid allows anyone with an idle GPU to contribute resources to the network and earn rewards.
By leveraging the power of idle GPUs, Nosana aims to provide affordable and efficient GPU resources for running AI workloads without the overhead of traditional cloud solutions. This approach helps alleviate the strain on the GPU supply chain and offers a more sustainable and cost-effective solution for users needing GPU resources.
As we can see, the approach taken by Nosana is slightly different from that of IO.net.
Nosana received a grant from the Solana Foundation and has a decent list of backers.
Nosana
Nosana is a decentralised crowd-computing platform powered by the Solana Network. It aims to revolutionise how software automation pipelines are executed using community-contributed compute resources to run tasks for open-source projects and other users.
We have already discussed the shortage of GPUs and projects that are trying to solve them.
Nosana also addresses the global GPU shortage problem by creating a decentralised GPU compute grid. This grid allows anyone with an idle GPU to contribute resources to the network and earn rewards.
By leveraging the power of idle GPUs, Nosana aims to provide affordable and efficient GPU resources for running AI workloads without the overhead of traditional cloud solutions. This approach helps alleviate the strain on the GPU supply chain and offers a more sustainable and cost-effective solution for users needing GPU resources.
As we can see, the approach taken by Nosana is slightly different from that of IO.net.
Nosana received a grant from the Solana Foundation and has a decent list of backers.
Crypto Banter Signals
🇨🇭Swiss National Bank just started cutting interest rates.
The Fed will follow. Opt out with #Bitcoin
🇨🇭Swiss National Bank just started cutting interest rates.
The Fed will follow. Opt out with #Bitcoin
Crypto Banter Signals
Reddit, one of the largest social media platforms on the planet, is going public.
The IPO is happening on Thursday, and according to early reports, it is more than five times oversubscribed.
Going public means retail investors can now participate in the upside – but we are talking about a stock here, not crypto.
Interestingly, some of the largest blockchain communities exist on Reddit.
So, while there isn't a way to get direct exposure to Reddit on-chain, the question is, "How can we participate in Reddit's potential upside?"
Well, it turns out that some of the communities have tokens – and their tokens could serve as proxies providing pseudo-exposure to Reddit's potential upside.
What does these look like?
Let's dive in!
TLDR
Reddit, one of the largest social media platforms, is going public through an already highly oversubscribed IPO.
The IPO will bring mainstream attention to Reddit and likely drive significant new user growth.
Many major crypto communities exist on Reddit in the form of large, active subreddits.
These subreddits have their own tokens that could see massive upside if new users flock to them post-IPO
Three tokens tied to subreddits with millions of members are projected to see upside potential of 31x, 40x, and 64x, respectively.
While speculative, these tokens offer the potential for outsized gains by providing proxy exposure to Reddit's growth.
Reddit, one of the largest social media platforms on the planet, is going public.
The IPO is happening on Thursday, and according to early reports, it is more than five times oversubscribed.
Going public means retail investors can now participate in the upside – but we are talking about a stock here, not crypto.
Interestingly, some of the largest blockchain communities exist on Reddit.
So, while there isn't a way to get direct exposure to Reddit on-chain, the question is, "How can we participate in Reddit's potential upside?"
Well, it turns out that some of the communities have tokens – and their tokens could serve as proxies providing pseudo-exposure to Reddit's potential upside.
What does these look like?
Let's dive in!
TLDR
Reddit, one of the largest social media platforms, is going public through an already highly oversubscribed IPO.
The IPO will bring mainstream attention to Reddit and likely drive significant new user growth.
Many major crypto communities exist on Reddit in the form of large, active subreddits.
These subreddits have their own tokens that could see massive upside if new users flock to them post-IPO
Three tokens tied to subreddits with millions of members are projected to see upside potential of 31x, 40x, and 64x, respectively.
While speculative, these tokens offer the potential for outsized gains by providing proxy exposure to Reddit's growth.
Crypto Banter Signals
Reddit - a meme paradise
Most of you will be aware of Reddit. However, what's not too often spoken about is the scale of the platform. So, here's some figures:
Seventy million daily active users.
30+ billion monthly views across all content.
In 2021, Reddit was valued at $10 billion.
Reddit generated $810 million in ad revenue last year.
On the surface, for crypto people, Twitter/X seems to be the place to be for all things crypto. But that doesn't do Reddit justice—it's where the masses go to discuss (a generous term for what happens on Reddit) crypto in an ordered forum.
Popular subreddits include r/CryptoCurrency, r/ethtrader, r/Dogecoin, but hundreds of others exist. The top subs have millions of followers - and this is where we potentially capitalise.
Reddit - a meme paradise
Most of you will be aware of Reddit. However, what's not too often spoken about is the scale of the platform. So, here's some figures:
Seventy million daily active users.
30+ billion monthly views across all content.
In 2021, Reddit was valued at $10 billion.
Reddit generated $810 million in ad revenue last year.
On the surface, for crypto people, Twitter/X seems to be the place to be for all things crypto. But that doesn't do Reddit justice—it's where the masses go to discuss (a generous term for what happens on Reddit) crypto in an ordered forum.
Popular subreddits include r/CryptoCurrency, r/ethtrader, r/Dogecoin, but hundreds of others exist. The top subs have millions of followers - and this is where we potentially capitalise.
Crypto Banter Signals
The thesis
Reddit decided to go public, which means they're selling shares on Thursday. Raising at a valuation of $6.5 billion, many are viewing this as a low-ball valuation considering previous estimates ($10 billion in 2021), and so the IPO is as much as five times oversubscribed, if not more.
Naturally, investors in TradFi will have a reason to monitor Reddit's performance metrics as they do with other stocks. Essentially, the platform debuts on Wall Street - and we know that's where all the big money is. Therefore, Reddit will start appearing in investment magazines, and without spending a penny on marketing, a whole new market of users will be opened up.
Boomers will be all, "What's this Reddit stock I keep hearing about?" etc. You know how it is.
Reddit will appear in the news. By proxy, this will result in more sign-ups and engagement, naturally.
But we're not here to discuss stocks.
We're a couple of months into a bull market, and we've already seen a huge influx of ne...
The thesis
Reddit decided to go public, which means they're selling shares on Thursday. Raising at a valuation of $6.5 billion, many are viewing this as a low-ball valuation considering previous estimates ($10 billion in 2021), and so the IPO is as much as five times oversubscribed, if not more.
Naturally, investors in TradFi will have a reason to monitor Reddit's performance metrics as they do with other stocks. Essentially, the platform debuts on Wall Street - and we know that's where all the big money is. Therefore, Reddit will start appearing in investment magazines, and without spending a penny on marketing, a whole new market of users will be opened up.
Boomers will be all, "What's this Reddit stock I keep hearing about?" etc. You know how it is.
Reddit will appear in the news. By proxy, this will result in more sign-ups and engagement, naturally.
But we're not here to discuss stocks.
We're a couple of months into a bull market, and we've already seen a huge influx of ne...
Crypto Banter Signals
Clearly visible are spikes in 2017 and 2021 - we have no reason to believe that 2024 will be any different.
This is the case across most crypto-related subreddits.
Many of these subreddits have quality content, which keeps people engaged.
What do you do when you're part of a community of like-minded people who make you laugh and provide helpful information on demand?
You buy the token - and there's the thesis.
There's a high likelihood these new degens will buy the official token for their subreddit when we hit the "buy anything" stage of euphoria.
All of the following tokens have the same general characteristics, with the key metric being the potential for the subreddit to record a surge in subscriber growth.
Clearly visible are spikes in 2017 and 2021 - we have no reason to believe that 2024 will be any different.
This is the case across most crypto-related subreddits.
Many of these subreddits have quality content, which keeps people engaged.
What do you do when you're part of a community of like-minded people who make you laugh and provide helpful information on demand?
You buy the token - and there's the thesis.
There's a high likelihood these new degens will buy the official token for their subreddit when we hit the "buy anything" stage of euphoria.
All of the following tokens have the same general characteristics, with the key metric being the potential for the subreddit to record a surge in subscriber growth.
Crypto Banter Signals
MOON (r/CryptoCurrency)
MOON is the community token for the r/CryptoCurrency subreddit, which has over 7.6 million members and is one of the most active subreddits on the site.
At launch, MOON was distributed to all r/CryptoCurrency users based on the amount of karma they had accrued on the subreddit up to that point. The token was originally launched as an ERC-20 token but has been ported to Arbitrum, making the token much more accessible.
In terms of utility, there's really not a lot. It's a SocialFi token, meaning that r/Cryptocurrency users can tip people MOONs for a good post/comment, etc.
This adds value to the community and drives engagement - people post for clout most of the time, and MOON adds the "steroids" factor.
If we call "RedditFi" a sector, MOON would be Bitcoin—it has the largest subscriber count and the highest market cap.
Tokenomics
There are currently 80.6 million MOONs circulating, with an uncapped supply.
The inflation rate is around 900k MOON per mon...
MOON (r/CryptoCurrency)
MOON is the community token for the r/CryptoCurrency subreddit, which has over 7.6 million members and is one of the most active subreddits on the site.
At launch, MOON was distributed to all r/CryptoCurrency users based on the amount of karma they had accrued on the subreddit up to that point. The token was originally launched as an ERC-20 token but has been ported to Arbitrum, making the token much more accessible.
In terms of utility, there's really not a lot. It's a SocialFi token, meaning that r/Cryptocurrency users can tip people MOONs for a good post/comment, etc.
This adds value to the community and drives engagement - people post for clout most of the time, and MOON adds the "steroids" factor.
If we call "RedditFi" a sector, MOON would be Bitcoin—it has the largest subscriber count and the highest market cap.
Tokenomics
There are currently 80.6 million MOONs circulating, with an uncapped supply.
The inflation rate is around 900k MOON per mon...
Crypto Banter Signals
Technical analysis
MOON rallied close to 600% in a 24-day period between February 23 and March 17, reaching an all-time high of $0.67.
Over the past three days, the token has undergone a healthy correction to $0.39. Currently, MOON is trying to recover from the support range of $0.39-$0.29, but prolonged consolidation in this range is possible. Fibonacci's golden zone of 0.5-0.618 lies between this range, so structurally, MOON should bounce from this range. The Relative Strength Index has also undergone a reset, falling under the overbought zone. While this indicates a subsiding bullish pressure, it allows the market to breathe and prepare for a second leg.
Technical analysis
MOON rallied close to 600% in a 24-day period between February 23 and March 17, reaching an all-time high of $0.67.
Over the past three days, the token has undergone a healthy correction to $0.39. Currently, MOON is trying to recover from the support range of $0.39-$0.29, but prolonged consolidation in this range is possible. Fibonacci's golden zone of 0.5-0.618 lies between this range, so structurally, MOON should bounce from this range. The Relative Strength Index has also undergone a reset, falling under the overbought zone. While this indicates a subsiding bullish pressure, it allows the market to breathe and prepare for a second leg.
Crypto Banter Signals
DONUT (r/ethtrader)
Hot on the heels of MOON comes DONUT, the community token of the subreddit equivalent of an Ethereum degen paradise.
This sub is more focused on discussing developments in that ecosystem, so it has fewer subscribers as a natural result.
With just over 2.2 million subscribers, r/ethtrader is one of the more active communities owing to the "maxi" mindset amongst many of its followers. I.e. everyone has an opinion, and everyone wants to share it - it's essentially a huge echo chamber, as all subreddits usually are.
Still, as Ethereum has the second-largest market cap, and with an Ethereum ETF on the horizon, this token could do well.
DONUT (r/ethtrader)
Hot on the heels of MOON comes DONUT, the community token of the subreddit equivalent of an Ethereum degen paradise.
This sub is more focused on discussing developments in that ecosystem, so it has fewer subscribers as a natural result.
With just over 2.2 million subscribers, r/ethtrader is one of the more active communities owing to the "maxi" mindset amongst many of its followers. I.e. everyone has an opinion, and everyone wants to share it - it's essentially a huge echo chamber, as all subreddits usually are.
Still, as Ethereum has the second-largest market cap, and with an Ethereum ETF on the horizon, this token could do well.
Crypto Banter Signals
Tokenomics
DONUT has an uncapped supply and a current circulating supply of ~220.5 million.
Inflation figures vary wildly every month, but a rough estimate is between 250-300k per month.
With a market cap of ~$5 million, DONUT leaves much wiggle room regarding upside potential.
Valuation
Now, the issue with token-specific subreddits is that, if anything, r/ethtrader members are more likely to buy ETH or Ethereum-related tokens.
Even more likely, they'll sell DONUT rewards to buy that ETH. As such, we'll have to reduce our expectations.
The above is a recent comment made by one of the r/ethtraders - but it also shows the current state of the subreddit.
Now, imagine the sentiment he's complaining about, but there are 3/4/5 times more members in there shilling DONUT.
Therefore, although we've got a lower projection for DONUT, we still believe it can reach as high as $200 million this year.
This places DONUT at a price of ~$0.90 from a current price of $0.023, a ~40x from here.
Tokenomics
DONUT has an uncapped supply and a current circulating supply of ~220.5 million.
Inflation figures vary wildly every month, but a rough estimate is between 250-300k per month.
With a market cap of ~$5 million, DONUT leaves much wiggle room regarding upside potential.
Valuation
Now, the issue with token-specific subreddits is that, if anything, r/ethtrader members are more likely to buy ETH or Ethereum-related tokens.
Even more likely, they'll sell DONUT rewards to buy that ETH. As such, we'll have to reduce our expectations.
The above is a recent comment made by one of the r/ethtraders - but it also shows the current state of the subreddit.
Now, imagine the sentiment he's complaining about, but there are 3/4/5 times more members in there shilling DONUT.
Therefore, although we've got a lower projection for DONUT, we still believe it can reach as high as $200 million this year.
This places DONUT at a price of ~$0.90 from a current price of $0.023, a ~40x from here.
Crypto Banter Signals
Technical analysis
DONUT has experienced a strong correction of around 68% after reaching a high of $0.06 on March 12. It is currently at around $0.02, with minor recovery in play.
The long-term accumulation is between $0.012 and $0.004, but bids can be placed at the confluence of 100-ema and 200-ema, as presented in the chart. This has acted as bullish support in 2024.
One caution to be noted is DONUT's low trading volume of only $132,000 for a market cap of $4.4 million.
It is not the worst, but it should have been higher for a trending token.
Technical analysis
DONUT has experienced a strong correction of around 68% after reaching a high of $0.06 on March 12. It is currently at around $0.02, with minor recovery in play.
The long-term accumulation is between $0.012 and $0.004, but bids can be placed at the confluence of 100-ema and 200-ema, as presented in the chart. This has acted as bullish support in 2024.
One caution to be noted is DONUT's low trading volume of only $132,000 for a market cap of $4.4 million.
It is not the worst, but it should have been higher for a trending token.