Walrus Coin Soars by 12% on CoinMarketCap, Making it the Top Gainer; Potential Contender for Next Cryptocurrency to Burst onto the Scene
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Right now, Walrus (WAL) is enjoying a massive 12% surge in the last 24 hours, trading at $0.6016 as of 3:37 a.m. EST. That's all thanks to a mammoth boost in trading volume that's reached $59.2 million!
With WAL leading the way, it's no surprise to find it at the top of Coinmarketcap's biggest gainers list. Its market cap has also burst through the $750 million mark. But just what's behind this rally?
As Sui prices continue to rise and approach their earlier peak, the network's popularity is gathering pace. Walrus, a decentralized data storage protocol on the Sui blockchain, is one of the recent tokens to gain a big following.
Is Walrus the Next Best Thing? 48% Gains Ahead?
Take a look at the 12-hour WAL/USD chart, and you'll see Walrus is showing some serious bullish energy! With a breakout from a bullish pennant pattern on April 22, WAL soared 59.55%, hitting a high of $0.6964 before encountering resistance.
Since then, WAL has dipped, testing the 0.5 Fibonacci retracement level at $0.5437 a few times over the past couple of weeks. But this latest price spike is just another attempt by WAL to break through the resistance around $0.6492-$0.6964.
Right now, Walrus is at $0.6038, with the 21 Simple Moving Average (SMA) on the 12-hour chart at $0.5870 acting as a supportive base.
The Relative Strength Index (RSI) stands at 56.36, leaving plenty of room for growth before reaching overbought territory above 70.
WAL/USDT Chart Analysis (Tradingview)
However, the Moving Average Convergence Divergence (MACD) indicator is suggesting a bearish trend. With the MACD line (blue) beneath the signal line (orange), it's possible the bull run is short-lived.
Volume is on the up, which supports the breakout above the 0.382 Fib level. The next resistance levels to be aware of are $0.6964, $0.7606, and $0.8586.
With WAL's 12% surge and chart breakout, it seems bulls are leading the charge. Combined with solid indicators, the crypto looks set to continue its ascent.
Meanwhile, the presale for Best Wallet (BEST) is creating quite a stir. Crypto analyst ClayBro, who has over 136K subscribers on YouTube, predicts BEST could fly 10X post-launch, due to the rising need for utility tokens.
Best Wallet Presale Nears $12M - Investors Eye 10X Potential
The non-custodial, multi-chain wallet has raised more than $11.9 million in its ongoing presale, with daily inflows signaling strong investor confidence.
Initially launched in late 2024, Best Wallet has quickly gained recognition, boasting over 250,000 monthly active users. With its intuitive, user-friendly interface, it supports more than 60 blockchains, including Bitcoin, Ethereum, and even Solana.
What sets Best Wallet apart is its ecosystem, powered by the BEST token. Token holders benefit from reduced trading fees, enhanced staking rewards (currently offering a dynamic 124% APY), and governance rights.
Best Wallet's "Upcoming Tokens" feature is a game-changer, and it's already shone the spotlight on promising presale gems like Pepe Unchained (PEPU) and Catslap (SLAP), which soared 700% and 7,000% at their peaks, respectively.
Best Wallet also caters to gaming enthusiasts, offering exclusive perks like free spins and deposit bonuses through partnerships with leading platforms. Its real-world spending-enabled crypto debit card, the Best Card, and fiat on-ramping via MoonPay and Alchemy Pay ensure support for over 100 currencies.
Security is a top priority for Best Wallet, which utilizes Fireblocks MPC-CMP technology and has its robust code confirmed by Coinsult's audit. Plus, there are no KYC requirements, making it appealing for Web3 purists.
With the presale nearing the $12 million milestone, investors can procure BEST via the official website or app using ETH, USDT, or a bank card.
Priced at $0.024975, BEST tokens are due for a price hike in about 11 hours. So, those who want to grab the best presale rates had better move quickly!
Visit the Best Wallet website to learn more.
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In light of the ongoing crypto market dynamics, investors might want to consider diversifying their investment portfolio to include both Walrus (WAL) and Best Wallet (BEST). While Walrus, a decentralized data storage protocol on the Sui blockchain, has recently shown significant growth with a 12% surge and a breakout from a bullish pennant pattern, indicating a possible continuation of its ascent, Best Wallet is creating a stir with its ongoing presale. Boasting over 250,000 monthly active users, the non-custodial, multi-chain wallet has raised more than $11.9 million in its presale, with its intuitive interface, support for multiple blockchains, and utility-focused ecosystem making it an appealing choice for investors.
