Aavegotchi’s Price Soars: Can GHST Outperform Memecoins and Bitcoin (BTC) This Bull Cycle?- Here’s Why This Expert Thinks So

The price of Aavegotchi’s GHST token has soared, surging to $3.37, according to data from CoinGecko. This represents a 71.41% price increase in the last 24 hours and a 188.81% gain over the past seven days.

Limited Supply and Gaming Narrative Drive Interest

Analysts and traders are attributing the GHST token’s rally to several bullish factors. Crypto analyst @alladdin_m took to X to share his bullish outlook on Aavegotchi’s $GHST token, declaring it a true “gem” amidst the current bull run. He emphatically advised followers to shift their focus from meme coins and Bitcoin, highlighting GHST’s unique position. 

Moreover, per Alladdin, the token’s limited supply of 51 million, with every token already in circulation, sets the stage for significant value appreciation. He drew parallels to Axie Infinity’s success in the last bull run to underscore the potential of GHST’s gaming narrative. 

Furthermore, Alladdin pointed to GHST’s migration and support for layer-2 scaling solutions like Base as critical factors. “Forget #memecoin forget #BTC this is true #GEM, this will explode in this bullrun cycle,” he states, illustrating his confidence in GHST’s trajectory

Staking and Gas Token Utility

Coinbase_trader, another analyst, echoed similar sentiments, tweeting that “big things” are coming for Aavegotchi and the Gotchi Chain this cycle. The analyst cited the upcoming introduction of GHST staking 2.0 and the token’s potential use as a gas token on the Gotchi Chain as key catalysts.

Coinbase_trader drew comparisons to the performance of AERO, suggesting GHST could follow a similar trajectory. The analyst also questioned whether Coinbase Ventures, the investment arm of the leading crypto exchange, had added GHST to its portfolio, given its support for AERO.

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Analyst Expectations of Further Upside

In a previous tweet, Coinbase_trader had expressed confidence in GHST retesting its then-ATH in the coming days or weeks. The analyst attributed the run-up lately to the project’s move to Base, a layer-2 scaling solution, but predicted that the upcoming launch of Gotchi Chain in Q2 and GHST’s use as a gas token would fuel further upside.

Notably, Coinbase_trader highlighted the lack of token unlocks for major venture capital firms and the full dilution of GHST’s supply as bullish factors, suggesting a potential supply squeeze could drive prices higher.

While the rally lately has been notable, analysts remain optimistic about GHST’s future trajectory, citing upcoming developments and the project’s unique tokenomics as key drivers of potential further gains.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.