$HBAR Analysis: Hedera Surges 16% in 24 Hours – Here’s Why It’s Bullish, While These New Tokens Also Rise
Hedera ($HBAR) saw a respectable 16% price surge over the weekend as the cryptocurrency broke the August resistance and reached a high of $0.065.
The move higher has pushed $HBAR into the upper angle of a rising price channel, with a breakout expected to turn the market parabolic.
Traders are rushing to the token after a sudden increase in activity and the launch of a new social media app.
Meanwhile, a group of newly emerging projects are gaining considerable traction as their presales see enormous growth.
In particular, XRP20 ($XRP20), Launchpad.xyz ($LPX) and Wall Street Memes ($WSM) stand out amongst the competition as the FOMO kicks in during their final stages.
What you'll learn 👉
Hedera ($HBAR) Surges 16% and Attempts Channel Breakout.
Hedera ($HBAR) surged by an impressive 16% today, pushing the cryptocurrency above resistance at $0.062 to reach the upper angle of an ascending price channel at $0.065.
$HBAR has been trading inside the confines of this channel since June, and a break above the upper angle is expected to turn the market parabolic.
This week’s 16% price surge also allowed $HBAR to break resistance at $0.062, which is provided by a bearish .382 Fib Retracement level measured from the 2023 highs to the June lows;
Looking ahead, the first level of resistance above the upper angle of the price channel lies at $0.07 – provided by a bearish .5 Fib Retracement.
This is followed by resistance at $0.0726 (1.414 Fib Extension), $0.0763 (bearish .618 Fib Retracement), and $0.08.
Beyond $0.08, resistance is expected at $0.09, $0.093, and $0.0988 (2023 highs).
On the other side, support lies at $0.062. This is followed by $0.06, $0.057, $0.055 (lower angle of the channel), and $0.05.
Why is $HBAR Bullish?
Traders are rushing to $HBAR on the back of increased on-chain network activity, ecosystem expansion, and the launch of a new social media platform on the network.
According to a quarterly report, the revenue for Hedera increased 67% QoQ in Q2 as its ecosystem saw massive expansion;
State of @hedera Q2 2023
— Nick Garcia (@NickDGarcia) July 28, 2023
Despite a bear market and hostile US regulatory regime, Hedera continues to show resilience.
In Q2, Hedera revenue increased 67% QoQ, added its 29th council member, announced an EVM strategy, and saw increases in all Network Services.
🧵 pic.twitter.com/mRVbUgh2Ke
According to data from Messari, the account metrics continue to increase on the back of the Karate launch as the ecosystem sees an influx of new users;
In addition, the platform recently onboarded a new social network that traders believe can become a game changer for the network.
The social media network is called Calaxy, and traders believe that it can attract a mainstream audience;
Before we depart for the weekend, I, on behalf of the @CalaxyApp team, wanted to thank the @hedera community for embracing Calaxy MVP that we released yesterday morning 🥹
— Solo Ceesay (@SoloCeesay) August 12, 2023
It’s been a difficult 3 years and our team worked so hard for this moment but boy was it worth it 😱
1/
Overall, the growth of the entire ecosystem is turning traders bullish, and an imminent channel breakout is expected this week.
What Tokens Are Also Surging This Week?
It’s not just Hedera turning heads in the industry this week as a handful of newly emerging low-cap alternatives see immense growth.
Traders are always hunting for low-cap projects because they provide enormous upside potential for relatively low levels of capital investments.
In particular, XRP20 is gaining traction as investors experience FOMO to snap up the remaining $XRP20 in its presale, which is expected to end in the coming days.
In addition, Launchpad.xyz ($LPX) is gaining momentum as investors look for projects with fully doxxed teams, and Wall Street Memes ($WSM) continues to impress as it approaches the $24 million fundraising milestone.
XRP20 Sees Unbelievable Growth as FOMO Kicks In Following BTC20 Success
Following the success of $BTC20 this weekend – which surged to an impressive $80 million market cap – traders are starting to experience FOMO on $XRP20 as they expect similar gains from the project.
Described as the second coming of XRP, XRP20 is the latest addition to the “Meta 2.0 Version” trend, which has seen successful projects launched like Dogecoin 2.0, Pepe 2.0, and now, BTC20.
Investors are rushing to the project as FOMO drives the fundraising to cross the $2.66 milestone.
XRP20 intends to reignite the passion of the Ripple Army with an ERC20 version of XRP on the Ethereum network.
This low-cap opportunity taps into the legacy of XRP but brings an upgraded version with a user-focused community and cutting-edge features.
The project combines a stake-to-earn utility with a deflationary mechanism that experts believe will create a vast supply shock and cause a massive surge in value.
In addition, as $XRP20 is an ERC-20 token, it will be easier to store, track, and trade relative to $XRP – making it prime material for DeFi integrations.
The tokenomics of $XRP20 pays its respect to the original $XRP with a 100 billion token supply.
40% of the tokens are sold in the presale for $0.000092 – aiming for a $3.68 million hard cap.
Then, 40% is reserved for staking rewards, 10% for DEX liquidity, and the final 10% is set aside to burn.
The stake-to-earn mechanism brings utility to retail buyers, allowing them to earn a passive income through on-chain staking.
The burning mechanism will reduce the supply over time, with 0.1% of every buy and sell transaction sent to a burn address.
Together, these mechanisms are expected to create a supply shock for the ecosystem, as analysts expect a quick 10x return from the project.
Overall, the FOMO has officially kicked in. With less than 20% of the presale allocation remaining, investors will need to be quick to get invested as the presale is expected to finish in the next day or two. After that, the token will launch on DEXs and start trending across the industry, like BTC20.
Traders Rush to Launchpad.xyz After Hunting for Doxxed Teams
Another token that’s turning heads is Launchpad.xyz – a groundbreaking all-in-one solution to Web3 investing.
With the recent number of rug-pulls on the market, investors are looking for projects with fully doxxed teams for safer investments, and Launchpad.xyz is one of the stand-out opportunities.
The idea behind this project is to make identifying and investing in Web3 projects easier – helping everybody become a winner in the Web3 world.
The platform offers smart data, analytics, and insights on crypto and NFT investments – revolutionizing how you invest in Web3.
On the platform, investors will be able to find the best NFTs, fractionalized assets, utility tokens, presales, play-to-earn games, and metaverses to invest in.
Best of all, the platform uses an AI system that helps rank all potential investments with a single value to denote the risk-to-reward opportunity with any Web3 project.
The platform also has a Web3 wallet, a metaverse library, a DEX, and a trading terminal to complete the suite of services.
Launchpad.xyz will use a stake-to-access subscription service, providing sustained demand for the $LPX token as the platform gains increased user adoption.
Overall, the project intends to humanize how people interact with Web3 by making an interface that’s more inclusive and easy to access to simplify the complex world of Web3 investments.
The presale for Launchpad.xyz is gaining considerable traction in recent weeks as investors learn that the team is fully doxxed – removing the risk of a potential rug-pull.
Wall Street Memes Continues Epic Presale and Approaches $24 Million.
The final token that’s also surging this week is Wall Street Memes ($WSM) as it quickly approaches the conclusion of its presale.
Wall Street Memes has been the fastest-growing presale project in 2023 after raising $23.7 million in just over sixty days.
The project is quickly becoming one of the most sought-after meme coins in the industry as investors expect huge 50x returns.
It’s generating massive attention due to its ability to attract a colossal community, meme-based humor, and attention from whales and high-profile celebrities like Elon Musk.
The FOMO has officially kicked in for this project as whales start to rush to buy the remaining tokens in the presale.
One whale recently bought $850,000 worth of $WSM in one purchase – spending 460 $ETH;
The confidence from whales is a huge testament to their enormous expectations for the project, as they’re taking huge risks for high returns.
The entire idea behind the project is to mock the capitalists on Wall Street through a series of memes on social media.
The memes have become so popular that they generate over 40 million monthly impressions and have attracted the attention of Elon Musk;
🤣
— Elon Musk (@elonmusk) April 22, 2023
The interactions with Musk sparked a wave of investment as traders speculated about his involvement with the project.
In addition, community-driven tokenomics is driving further investment as the entire token supply is reserved for the community – with 50% sold in the presale and 50% for community rewards and CEX liquidity.
Finally, the colossal size of the community has experts believing that $WSM is guaranteed a major tier-1 listing on launch as exchanges like Binance would rush to take advantage of the huge trading volume.
Overall, $WSM is set to be the next meme coin sensation in the market.
However, with the presale in its final stages, you’ll have to rush to get positioned in this next meme coin sensation or face the pain of paying higher prices when $WSM launches on significant exchanges and starts to trend across the industry.
