Polygon Price Prediction: MATIC Surges 14% After Coinbase Announces Support For POL Migration As This Layer-2 PEPE Closes On $10 Million

The Polygon worth surged 14% within the final 24 hours to commerce at $0.5322 as of 00:43 a.m. EST on buying and selling quantity that skyrocketed 113% to $664 million.

The surge comes after Coinbase introduced that it’ll help the migration of the Polygon ticker from MATIC to POL on the Polygon Community on August 26.

To finish the change, sending or receiving MATIC shall be disabled between August 26 and September 10.

Beginning 8/26, we shall be migrating the Polygon ticker from MATIC to POL on the Polygon Community. Between 8/26 and 9/10, ship/obtain shall be disabled for MATIC on the Polygon Community with a purpose to efficiently full the ticker change from MATIC to POL. Right here is what to anticipate:

— Coinbase Property 🛡️ (@CoinbaseAssets) August 21, 2024

On September 4, MATIC will transition to POL. POL will exchange MATIC because the native fuel and staking token for Polygon proof of stake (PoS).

Polygon Value To Proceed Surging

The Polygon worth has been on a downtrend in August, because it dropped from the $0.528 resistance, and located help round $0.396, in accordance with information from GeckoTerminal.

The bulls then used the help, with the value of Polygon hovering again to its resistance within the final two days, forming a rounding backside sample.

MATIC bulls intention to capitalize on the rounding backside to maintain the rally, with the value of Polygon now buying and selling above each the 50-day and 200-day Easy Shifting Averages (SMAs).

The Relative Energy Index (RSI) additionally helps the bullish stance, because it soars previous the 70-overbought area, at present at 85. The RSI reveals that the asset is underneath intense shopping for stress.

Furthermore, the Shifting Common Convergence Divergence (MACD) trades above the impartial line, displaying that the asset is on an uptrend. The blue MACD line is crossing above the orange sign line, forming a bullish crossover.

A bullish crossover and the RSI hovering present that the asset is bullish. If this stance continues, MATIC may soar, because the bulls now goal $0.66, a 24% rise from the present worth.

Nevertheless, with the RSI hovering previous the 80 stage, the asset is now overvalued. This can be an indication of a looming promoting sign. If sellers take management, the value of Polygon may plunge again to the $0.46 help (200-day SMA).

Because the Polygon worth soars, buyers are additionally pouring funds into a brand new PEPE various known as Pepe Unchained (PEPU), which YouTube channel 99Bitcoins, with greater than 706K subscribers, says may soar 100X after its launch.

Pepe Unchained Raises Over $9.9 Million – Finest Meme Coin To Purchase Now?

Since its launch two months in the past, the Pepe Unchained presale has soared previous $9.9 million.

The huge inflow of funds in a brief interval reveals that the crypto market is significantly eyeing Pepe Unchained as the brand new meme coin anchor, banking on its promise to make Pepe possession sooner and cheaper with its proprietary blockchain.

As its title suggests, Pepe Unchained frees Pepe from his previous, clunky Layer-1 server room on Ethereum. The mission will run by itself proprietary Ethereum Layer 2 blockchain. 

Who wants some Mind Powder?

Pepe is gearing up for the official launch of his very personal blockchain! 🚀 pic.twitter.com/kZC72UmxFy

— Pepe Unchained (@pepe_unchained) June 20, 2024

Token holders also can earn passively by way of the platform’s staking system, which affords an annual proportion yield (APY) of 201%.

You should purchase $PEPU tokens for $0.0092364 every. With a worth hike coming in lower than 2 days, purchase quickly to lock in one of the best deal.

To affix the presale, purchase $PEPU from the official web site right here utilizing ETH, USDT, or a financial institution card.

Associated Information