Gorilla price has increased by 50% in the past 24 hours, trading at $0.007385, and trading volume has surged by 496% to $4.8 million. Although the surge in the token’s price may have a lot to do with the continued rise in the cryptocurrency market led by Bitcoin, its developers launched the Beta version of Gorilla Launchpad on February 29.
The BETA version of our Launchpad is now live on our website! You can preview the progress of our BETA Gorillapad here: https://t.co/irkSbcJXUL
Our hard working developers are almost done with the final version. This will be live soon!
Gorillapad will be...
pic.twitter.com/UgnbEdMMSa
– gorillatokenio (@gorillatokenio)
February 29, 2024
The so-called Gorillapad has yet to be fully released, but the team says it is working tirelessly to deliver a complete version as soon as possible. The anticipation of what’s to come is likely partly driving the token’s gains.
Gorilla Price Prediction
The rise in Gorilla’s price can be traced back to several factors, including the fact that it is a “meme coin,” meaning it belongs to a group of cryptocurrencies that generally perform very well in various market conditions. Meme coins tend to thrive when market conditions are favorable, like they are now, and that is exactly what is happening with GORILLA.
Speaking of favorable market conditions, Bitcoin has continued its pre-halving rally and is now very close to its 2021 all-time high.
This hype has also extended to other coins, which is another reason why Gorilla’s price has risen. Add to that the anticipation of the upcoming Launchpad, and it’s clear that this is why the coin is performing so well.
However, traders are now interested in what will happen next, which is why many are looking to technical indicators. The Bollinger Bands for the GORILLA token have seen a huge expansion over the past 12 hours – even larger than what was seen on February 2. This is a very bullish sign and great news for traders.
However, the project’s relative strength index (RSI) recently entered the overbought zone, reaching a value of 84.03. It has since dropped to its current value of 66.51, which is closer to the neutral zone, but still quite high.
Going by the behavior of the RSI, it seems like the decline has stalled, which shows that bulls are outweighing bears.
Despite some traders starting to take profits, the demand for GORILLA tokens remains strong. However, on the coin’s chart, it is clear that the $0.0080 resistance is a strong barrier and the coin is struggling to break through it.
However, considering that the market is still controlled by the bulls, there are chances that Gorilla will break this resistance in the coming hours and may even rise further to $0.0090 or even $0.01.
Alternatively, if the buying pressure drops, the coin could drop to $0.007 or even $0.005. However, technical indicators currently suggest that Gorilla still has some room to grow. Given that this rally was caused by fundamentals rather than technicals, caution is strongly advised.
A promising alternative to Gorilla
Currently, one of the most promising alternatives to Gorilla is a new token called Green Bitcoin (GBTC). This is a project that introduces gamified green staking, allowing exponential returns, as well as token rewards of up to 100%.
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pic.twitter.com/eXuGQBkxio
– GreenBitcoin (@GreenBTCtoken)
December 3, 2023
Green Bitcoin offers an extraordinary opportunity in the world of cryptocurrency, allowing users to earn huge gains by predicting Bitcoin trends. This allows both cryptocurrency veterans and beginners to turn their market insights into profits, or simply try to make money based on their intuition.
So far, the project has attracted many interested cryptocurrency enthusiasts because it combines Bitcoin’s legacy with Ethereum’s environmentally friendly blockchain.
Interested parties have rushed to purchase the project’s tokens in the ongoing presale, allowing Green Bitcoin to raise $1.7 million while selling its tokens at $0.5742 each.
The presale allows users to obtain GBTC with ETH, USDT, credit or debit cards. Users can also purchase the token with BNB.
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