The newly launched governance token, $BEN is a meme coin undertaking designed for BitBboy’s Decentralized Autonomous neighborhood, Ben DAO.
The token’s efficiency previously two days earlier than its public announcement represents prevalent value volatility within the coming days.
Notably, the overall meme coin frenzy within the crypto house as a result of successes of AiDoge and SPONGE contributed to the spike of the BEN token. However its emergences have evoked blended reactions.
Whereas there are a number of bullish sentiments for BEN, there are nonetheless queries regarding the undertaking’s subsequent transfer.
In line with the highest crypto influencer with over 369K followers on Twitter, RookieXBT, $BEN could possibly be a dangerous funding possibility as a result of SEC’s consideration directed at Ben Armstrong.
If this occurs, there could possibly be a whooping fall for the asset.
$BEN Worth Efficiency So Far
As of Could 8, 2023, $BEN traded at $0.000000009416, and by Could 9, it elevated by 13% to $0.00000004016.
At the moment, Could 10, 2023, $BEN traded at $0.0000001241 within the final 13 hours. It has reached $0.0000001306 because it trades sideways.
$BEN Technical Evaluation: What’s The Manner Ahead?
$BEN is in its retracement stage, making a short-term bearish motion in opposition to its bullish development.
The coin’s chart reveals $BEN is buying and selling above its 50-Day Easy Transferring Common (SMA), a robust bullish sentiment.
Moreover, $BEN’s Relative Energy Index (RSI) is at 47.34, on the time of writing, with an upward motion which suggests the market will probably strategy the overbought area above 70 quickly.
The coin’s Transferring Common Convergence/Divergence (MACD) is under the sign line, confirming the upcoming bearish motion of $BEN within the subsequent jiffy.
Additionally, $BEN continues to be above its 200-Day SMA, which suggests it’s more likely to file extra inexperienced days within the coming weeks.
The Way forward for $BEN
The brand new Bitboy token, $BEN is a promising meme coin undertaking with potential value volatility following its itemizing on several exchanges and the growing relevance of meme cash.
Nevertheless, it’s topic to macroeconomic elements, crypto regulation, legal guidelines of provide and demand, in addition to market and traders’ sentiment.
Whereas the Bitboy token retraces, different new meme initiatives are surging, projecting prevalent bullish sentiments within the nearest future.
Various Initiatives To BEN Tokens
AiDoge (AI) – Revolutionary Web3 Token
$AI is the first forex and native token that powers all actions and transactions on the revolutionary Web3 platform, AiDoge.
It’s a crypto-powered meme generator platform that permits customers to create memes, share, and vote on their favorites. On the finish of the month, the very best meme creator receives monetary rewards by way of the $AI tokens.
The various utility of the $AI token is attracting a swam of traders into the initiatives. The tokens presale is within the 9th stage at $0.0000292, with over $5.1 million raised to this point.
On the finish of the presale, they may checklist at $0.0000336 and spike after hitting main exchanges.
Spongebob (SPONGE) Worth to Pump After Hitting MEXC World
Spongebob hit the exchanges on Could 4, stunning the crypto house with its steady value beneficial properties.
The undertaking didn’t go by way of the rigorous presale processes however went stay on Uniswap and has gained a 767% improve in its launch value.
Spongebob’s marketcap is over $9.28 million, and its buying and selling quantity has reached over $5.5 million with over 420 holders.
What’s The Subsequent Transfer For $SPONGE?
$SPONGE is at the moment on a bearish path, recording $0.0008757, at present, Could 10, 2023, a 22.72% value drop on the time of writing.
$SPONGE is buying and selling a number of pips under its 50-Day and 200-Day Easy Transferring Common (SMA), a short-term bearish sentiment.
Additionally, the Relative Energy Index (RSI) is at 52.70, a impartial market place. The anticipated bullish motion in $SPONGE’s market will probably ship it to the overbought zone (above 70).
The Transferring Common Convergence/Divergence (MACD) is above the sign line, representing the potential for $SPONGE gaining new costs within the coming days.
The announcement of $SPONGE hitting the crypto trade, MEXC World, and its eventual itemizing may improve the asset’s shopping for strain, pushing it above the SMAs.