Why is QuickSwap (QUICK) Price Pumping?

The native token of the DEX QuickSwap, QUICK, has surged 22.08% over the last 24 hours to reach a price of $0.063569. This rapid gain comes as QuickSwap launches a promotional campaign on the new Manta Pacific chain, aimed at incentivizing trading activity.

The campaign, run in partnership with protocols Manta Network and Galxe, will airdrop 2,500 MANTA tokens to 100 selected QuickSwap users on Manta Pacific. To qualify, users must complete specific social media tasks and record the highest trading volumes on QuickSwap by the campaign end date of February 16th as highlighted in a tweet post by QuickSwap 🐲 DragonFi 2.0 on the X platform.

Manta Pacific, a new layer-2 blockchain that utilizes Polygon’s CDC technology, debuted last month at MantaFest. This event showcased new private DeFi applications launching on Polygon sidechains.

Analyzing QUICK’s price chart, the token has seen significant bullish momentum lately. However, an overbought RSI of 72.38 indicates potential for a short-term correction. The MACD remains positive though, signaling the uptrend still has strength. The widening gap between the 50 and 100-day exponential moving averages also paints a bullish picture long-term.

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QUICK hit an all-time high of $0.225 in May 2022 during more favorable market conditions. With incentive campaigns generating new interest, QuickSwap hopes this renewed activity can catalyze a return toward previous highs. For now, QUICK’s 22% surge highlights continued community excitement around the growing DEX.

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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.