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The 1inch token ($1INCH) experienced a price explosion early Monday morning, soaring by over 37%.
This impressive pump is continuing the altcoin momentum sparked by XRP’s legal victory last week.
As 1inch surges, several other coins are also showing bullish price action – a sign of upbeat market sentiment propelling the crypto market.
$1INCH Explodes Higher as Bulls Take Over
According to CoinMarketCap data, $1INCH is now trading at $0.432, with the token boasting a market cap of $415 million.
Over $672 million worth of $1INCH was traded in the past 24 hours – a 214% increase from the previous day.
This increased interest has also resulted in a considerable uptick in unique wallet addresses holding $1INCH.
Not only that, but data from Etherscan.io reveals several large buy and sell orders in the past few hours – some valued at over $10,000.
Delving into the technicals, the recent $1INCH surge has propelled the price above the 20-day and 50-day Exponential Moving Averages (EMAs).
However, price has stalled just below the crucial 200-day EMA – an indicator that hasn’t been breached since February.
If $1INCH can break above this EMA, it could suggest a further continuation of the uptrend in the coming days.
Stars Align for 1inch As Whale Moves Help Token Price
The recent surge in the 1inch token can be attributed to a combination of factors.
Firstly, the move appears to be a continuation of the altcoin momentum sparked last week after Ripple’s lawsuit win against the SEC.
This win was viewed as a bullish catalyst by the wider crypto market since it provides a semblance of clarity amid ongoing regulatory uncertainty.
Secondly, $1INCH’s price spike coincided with a huge increase in trading volumes on the South Korean crypto exchange, Upbit.
According to an article from Decrypt.co, $1INCH’s trading volume in the past 24 hours hit $360 million – 15 times higher than the 30-day average.
On-chain data reveals substantial inflows and outflows of $1INCH from major exchanges, suggesting that “whales” are taking significant positions in the token.
For now, the bullish momentum behind $1INCH remains relatively strong – and investors are keen to see whether it can be sustained in the week ahead.
Which Other Coins Are Experiencing Bullish Momentum?
The surge in altcoins, which has bolstered established tokens like $1INCH, has also influenced new crypto projects.
Two projects currently riding the wave of bullish sentiment are Wall Street Memes and yPredict – both of which are amid successful presale phases.
Wall Street Memes Continues Rising & Raises $15.2m
Wall Street Memes ($WSM) seeks to tap into the trend of memes disrupting the crypto sector by building on the viral power of internet culture.
The developers strive to build a community that challenges the Wall Street titans while emphasizing humor and fun.
Despite the saturated nature of the meme coin space, Wall Street Memes has already raised $15.2 million in its ongoing presale, showcasing the strong community support behind the project.
Moreover, with over 1.1 million followers on social media, Wall Street Memes already has a solid foundation for its future endeavors.
Early investors can buy $WSM tokens through the presale for just $0.0316 – a price point driving huge demand.
Contributing to the demand is the fact that the project has caught the attention of some big names in the influencer scene. For example, YouTuber Michael Wrubel uploaded a video last week stating that he had invested in $WSM.
Looking ahead, Wall Street Memes’ team has laid out plans to launch a “gated community” and obtain listings for $WSM on Tier-1 exchanges – which has led to speculation that a Binance listing could be possible.
Although there’s no movement on that front yet, the signs are overwhelmingly positive for $WSM, which is rapidly emerging as one of the most compelling tokens in the meme coin space.
Visit Wall Street Memes Presale
yPredict Begins AI-Driven Revolution in Crypto Analytics & SEO Strategies
yPredict ($YPRED) is blazing its own trail in the crypto market, positioning itself as a groundbreaking platform that melds AI technology with crypto analytics and SEO solutions.
This pioneering platform offers a suite of innovative tools that will prove useful for both beginner and veteran crypto traders.
These tools include automated chart pattern recognition, advanced technical indicators, and even AI-powered trading signals.
Beyond its crypto analytics features, yPredict also boasts an AI-driven backlink estimator designed to provide the exact profile needed to rank specific keywords – ideal for those seeking to boost their SEO strategies.
These aspects of the yPredict ecosystem have helped foster a sense of community engagement, with over 28,000 people now part of the official Telegram channel.
As such, yPredict is clearly on an upward trajectory – and with the project having breached the $3 million mark in its ongoing presale, the potential for growth is undeniable.
Visit yPredict Presale
Disclaimer
This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project guidelines for unbiased and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to verify information independently and consult with a professional before making decisions based on this sponsored content.
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