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Gorilla prices have surged 141% in the past 24 hours to $0.005085 per share, with trading volume surging 1,773%.
The surge puts GORILLA among the top five daily gainers on the Gate.io exchange.
https://t.co/8kWqgEeplL
Top 5 daily gains on January 31
⭐️The biggest increase⭐️
1️⃣
#WEN
+6296.88%
2️⃣
#DMAIL
+533.7%
3️⃣
# LUS
+185.23%
4️⃣
#ABT
+57.94%
5️⃣
#GORILLA
+45.65%
Trade here:
https://t.co/Gs1d4s4Re4
#Gateio
# has the largest increase
#CryptoGems
pic.twitter.com/ROmNpMVi8r
— Gate.io (@gate_io)
January 31, 2024
The rally stems from the hype surrounding Gorilla Launchpad, marking the launch of the network’s flagship utility, “GORILLA PAD.”
Launch Pad Updates
Dear Gorillas, the moment we have been eagerly awaiting has finally arrived - the unveiling of our flagship utility "GORILLA PAD", slated to be the next "Pinksale". Over the past 30 days, our professional developers have worked tirelessly to fine-tune it,…
pic.twitter.com/hUKNw9x32W
— gorillatokenio (@gorillatokenio)
January 30, 2024
Gorilla Pad provides a launch point for new projects where they can raise funds while providing investors with their first access to tokens. It is a decentralized exchange (DEX) based platform where cryptocurrency projects are introduced and can receive funding support.
Early-stage cryptocurrency token sales are available to cryptocurrency investors of a project before it goes public.
Gorilla Pad adds value to GORILLA community members
With the launch of Gorilla Pad, community members can expect a greater chance of profiting from future price increases. This is because it can buy tokens at a lower price and then sell them later at a profit. Due to the lower launch costs, the platform can also attract more cryptocurrency projects for financial support.
A detailed explanation on why Gorilla’s launch pad is so revolutionary and will make Gorilla a powerhouse in the crypto world:
Bring new projects into space with the Gorilla Pad!
Gorilla Pad is a cryptocurrency launchpad that allows new cryptocurrency projects to raise funds while providing…
pic.twitter.com/yYDotqlqOE
— gorillatokenio (@gorillatokenio)
January 26, 2024
With the rally in hand, the Gorilla price has broken out of a descending parallel channel and is currently facing resistance at the 23.6% Fibonacci level ($0.0055). This resistance is located at the 50-day simple moving average (SMA) at $0.0056.
The Relative Strength Index (RSI) is rising strongly, pointing to upward momentum. This is supported by the Moving Average Convergence Divergence (MACD), which continues to move above its signal line (orange band). Its histogram is also in the positive territory, just like the histograms of the Awesome Oscillator (AO), which are soaked in green and trending towards the positive territory.
If the buying pressure increases at current levels, the Gorilla price could overcome the resistance caused by the 50-day SMA ($0.0056), potentially extending northwards to test the 38.2% Fibonacci level of $0.0077.
If the move north continues, GORILLA price could reach the 50% Fibonacci level of $0.0095. In a highly bullish scenario, GORILLA market cap could test the most important Fibonacci level, the 61.8% at $0.0112. Such a move would place it 117% above current levels.
TradingView: GORILLA/USDT 1-Day Chart
The opposite
On the other hand, if the confluence between the 50-day SMA and the 23.6% Fibonacci acts as resistance, the Gorilla price could fall lower. This could take it back into a bearish chart pattern or, in an extreme case, lose all the ground it has covered and retest the $0.0020 support level.
This outlook is possible considering that the AO and MACD are still in negative territory as it implies the presence of bears in the GORILLA market.
Additionally, some investors are diversifying their portfolios through Meme Kombat, a GameFi ICO that is all the rage in the memecoin space.
A promising alternative to gorillas
Ranked by one of the analysts as one of the best cryptocurrency ICOs for 2024, MK is one of the new memecoin craze and one of the projects with great potential.
Ari from @cryptonews who likes all memes that will be participating in Meme Kombat ⚔️
Which is your favorite meme?
pic.twitter.com/IxXze7bYiA
— Meme Kombat (@Meme_Kombat)
January 26, 2024
The project offers community members the opportunity to battle against their favorite meme characters in the arena. Character selection is based on betting odds, or you can simply choose your favorite character.
pic.twitter.com/TeiX4A6yX8
— Meme Kombat (@Meme_Kombat)
January 25, 2024
Meme Kombat is currently in pre-sale and has already grossed over $7.793 million, with a goal of $8 million.
MK tokens are priced at $0.279 each. Once you purchase MK, you can stake it to earn up to 120% annualized yield, but make sure to take advantage of the first mover advantage as these rates will decrease over time.
So far, 80% of MK tokens have been staked, with 10,850 stakers at the time of publication. More stakers are coming soon, so don’t miss out.
Visit the Meme Kombat website to purchase MK and stake your holdings
Also read:
How to Buy Meme Kombat in Presale - Alessandro De Crypto Video Review
How the New Solana (SOL) Saga Mobile Enhances the $7M Web3 GameFi Platform Meme Kombat, Sold for a Cheap Price of $0.279
Meme Kombat Presale Surges to $7M — Could This Be the Next Breakout Memecoin?
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