DeepBook Protocol's Value Surges by 7%, Triggering Speculation as Potential Next Cryptocurrency to Skyrocket
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DeepBook Protocol's (DEEP) price took a significant leap, climbing 7% in the last 24 hours, placing it at $0.1879 as of 3:15 a.m. EST. The trading volume surged an impressive 306% to a whopping $162.57 million.
DeepBook Protocol Price Forecast
Although DEEP maintains a steady, relatively controlled price on a weekly basis, its daily behavior exudes a different vibe. Over the last two days, the token experienced a gradual decline, followed by a sudden spike, a sizable correction, another period of stability, and yet another drop, only to rebound again.
Using the DEEP/USDT chart analysis, Bollinger Bands have shown an erratic pattern. Initially, they were consistently wide, later narrowing significantly before expanding once more due to the surging price pushing the upper band further up. This typically indicates a bullish trend that may attract more buyers.
DEEP's Relative Strength Index (RSI) has shown a bit more predictability, oscillating between the oversold and neutral zones on May 3, followed by a steep rise into the overbought zone on May 4, reaching nearly 80. A subsequent sell-off brought the metric back to the neutral zone, where it remained until May 5; however, a drop to the oversold zone was followed by another ascent to the overbought zone as traders eyed low-priced DEEP opportunities.
Currently, the RSI stands at 70, implying that a sell-off could occur if traders decide to sell off en masse.
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As DEEP may soon witness another price rejection, investors are looking elsewhere, such as Best Wallet (BEST)[1].
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To date, the BEST ICO has raised over $11.97 million, just shy of $12 million. The BEST token can still be purchased for a mere $0.024975, but investors would be wise to act soon, as the next presale price hike is due in less than 12 hours.
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[1] Data obtained from CoinMarketCap (https://coinmarketcap.com/currencies/best-wallet/) and Best Wallet's official website (https://bestwallet.app/).
[2] Data obtained from CoinMarketCap (https://coinmarketcap.com/currencies/bitcoin/).
[3] Crypto Youtuber Miscellaneous Information Retrieved from YouTube (https://www.youtube.com/@ClaybroOfficial) and Best Wallet's Launchpad Page (https://bestwallet.app/launchpad/).
[4] Data obtained from Enrichment Data on Best Wallet (BEST) and DeepBook Protocol (DEEP) Market Performance (see Overall section).
- With the erratic price movements of DeepBook Protocol (DEEP), some investors are turning to technology-driven solutions for safer investments, such as Best Wallet (BEST) which offers a diverse portfolio, lower trading fees, and early access to token ICOs.
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