Velodrome Finance Price Prediction: VELO Soars On Buy By US Congressman Mike Collins As Experts Say This Multichain Token Might Be The Next Crypto To Explode

The Velodrome Finance value pumped over 14% within the final 24 hours to commerce at $0.1065 as of seven:15 a.m. EST as traders rush to build up the altcoin.

Notable Politician Commerce alert✍️

This time, it is crypo

Rep. Michael Collins (R) simply disclosed shopping for $15K of a crypto coin referred to as “Velodrome”

It has a market cap of solely ~$150M pic.twitter.com/oWicS3s6Zv

— Nancy Pelosi Inventory Tracker ♟ (@PelosiTracker_) June 17, 2024

This current acquire posted by the VELO value comes after US Congressman Mike Collins revealed that he bought the token. He mentioned that he purchased VELO on Could 15, when the crypto was buying and selling at round $0.13. Collins additionally revealed that he bought $15,000 value of the token.

The Velodrome Finance Worth Testing Vital Help

4-hour chart for VELO/USD (Supply: GeckoTerminal)

The Velodrome Finance value was rejected by the $0.1250 resistance stage over the previous 24 hours. It has since printed a sequence of decrease highs on the 4-hour chart, ensuing within the formation of a unfavorable development line. VELO has additionally damaged beneath the $0.1123 help and is at the moment testing the $0.1046 help.

If it closes a 4-hour candle beneath $0.1046, then VELO may be liable to plunging to the next help stage at $0.0925 within the following 12 hours. Nevertheless, sustaining a place above $0.1046 for the remainder of at present’s buying and selling session may invalidate this bearish thesis. It may additionally place the Velodrome Finance value above the recently-formed descending development line.

On this various situation, the altcoin may begin to climb in the direction of the aforementioned $0.1123 mark. Sufficient purchase strain ought to it attain this level may result in it flipping this threshold into help. This might then give it the technical basis wanted to proceed climbing within the quick time period.

Merchants may enter into a protracted place for the crypto. With this potential bullish strain, VELO may attempt to break above $0.1245 earlier than probably rising to as excessive as $0.1377. 

Technical Indicators Counsel The Velodrome Finance Worth May Drop In The Subsequent 24 Hours

Technical indicators on VELO’s 4-hour chart warn that the Velodrome value may hold dropping within the upcoming 24 hours. All through the previous couple of hours, the Relative Power Index (RSI) worth has decreased considerably. Though the RSI continues to be bullishly above 50, the unfavorable slope and the current decline may sign diminishing purchaser energy.

If the RSI drops beneath 50, it could possibly be a sign that sellers have gained the higher hand in opposition to consumers. As such, it may be simpler for bears to tug the Velodrome value down within the subsequent 24 hours than will probably be for bulls to spice up it, ought to sellers select to capitalize on the benefit.

In the meantime, the Shifting Common Convergence Divergence (MACD) line is collapsing in the direction of the MACD Sign line. Merchants may see this as an early indication of VELO’s present bullish cycle coming to an finish. An intersection between these two traces is also an indication of the altcoin coming into right into a unfavorable section.

As VELO’s bullish momentum begins to chill off, traders proceed to flock to the multi-chain meme coin Base Dawgz (DAWGZ). 

Providing Token Holders Seamless Interoperability Throughout A number of Blockchains

Though Base Dawgz calls the Layer-2 community Base its house, the challenge’s crew plans on increasing the meme coin’s presence to a number of different networks.

These extra chains embrace a few of the most energetic and liquid networks at the moment within the Web3 area, resembling Solana, Ethereum, Avalanche and the Binance Good Chain.

This won’t solely enable traders to shift worth throughout networks with ease, it is going to additionally give them the flexibility to take part in excessive yield-generating DeFi alternatives no matter which community they’re accessible on.

That is made potential by the highly effective cross-chain expertise backing Base Dawgz. At its core, the challenge allows traders to assert, retailer and commerce on a number of networks on account of Wormhole and Portal Bridge expertise.

Wormhole is a decentralized protocol for blockchain messaging that enables Base Dawgz traders to seamlessly shift their belongings throughout the completely different chains. In the meantime, Portal Bridge additional enhances DAWGZ’s performance by guaranteeing safe and environment friendly cross-chain transfers.

Famend YouTuber Jacob Bury not too long ago spoke about DAWGZ and advised his 40.7k subscribers that the bottom meme coin has the potential to surge 100X.

Approaching $2 Million

Base Dawgz hit the market working and raised $200k by means of its presale throughout its first day. This success continued over the course of the next week, because the meme coin’s ICO went on to surpass $1 million. Now, DAWGZ’s presale is on monitor to achieve the $2 million milestone quickly as effectively.

Anybody that wishes to purchase into the crypto at this early stage can accomplish that by means of the challenge’s official web site. Promoting for $0.00527, DAWGZ could be purchased with both BASE, ETH, BNB, AVAX or SOL utilizing the straightforward purchase widget embedded on the web site’s house web page.

Traders will need to hurry as a result of the meme coin’s value is ready to extend in lower than per week.

Buy DAWGZ right here earlier than its subsequent value improve.

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