Why Is SelfKey Price Up By 47%? Analyst Says KEY is The Next SUPER

In the past 24 hours, the KEY token has absolutely exploded higher, gaining a staggering 47.87% to reach $0.008427.  

Trading volume over the past 24 hours has topped $75.8 million, a staggering 1,729% increase over the average. The powerful upside move has also brought Key’s market capitalization to $45.3 million, up 49.34%.

What is SelfKey?

SelfKey is a blockchain-based digital identity platform that provides users, companies, exchanges, fintech startups, and banks with the ability to manage identity data and documentation.

The core SelfKey team has worked on decentralized identity technology since 2014, with experience across entities like Standard Chartered Bank, Bitmax Exchange, EQIBank, and GSR.

The open-source, non-custodial SelfKey Wallet allows users to securely store both digital assets and identity credentials. Users can then interact with the SelfKey Marketplace to conveniently apply for real-world products like bank accounts or company incorporation, paying with the native KEY token.

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Driving Forces Behind Rally

While SelfKey has not released any direct project announcements to explain the powerful rally, the wider rebound across crypto assets in February likely provided a tailwind.

Nonetheless, KEY has massively outperformed broader altcoin markets, suggesting strong project-specific interest.

Well-known Twitter trader Captain Faibik called KEY “promising for an EPIC PUMP” as part of his technical analysis. Meanwhile, Crypto Titan’s described the technical picture as showing KEY “looks quite Promising here.” Crypto Titan also said that KEY could be the next SUPER.

A tweet by trader JAVON MARKS also pointed to ongoing strength, stating: “In response to a breakout of a resisting trend, an over 207% run to reach this $0.022536 target can be in effect, and prices can move quickly to do so.”

On the daily RSI technical indicator, Key registered a reading of 87 before pulling back slightly. This signals extremely overbought conditions and suggests the powerful uptrend will require a cooldown, although the rally could resume after a period of consolidation.

With KEY reaching prices not seen in years, traders will be closely eyeing whether this marks a long-term bottom and reversal of the brutal crypto bear market. The project maintains an active community base, so further upside could quickly materialize with another leg higher.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.