GALA has rise by 13% in the past 24 hours, with the Gala price reaching $0.07852 on a day when the market as a whole posts a 2% rise.
This means that GALA has recorded an impressive 80% increase in just over a week, with the gaming utility token also rising by 220% in the last 30 days.
Yet what’s particularly bullish about Gala is that it’s still 90% down from its current ATH of $0.8248 (of November 2021), so it still has plenty of space to rise further in the near and more distant future.
Is It Too Late to Buy GALA? GALA Price Rockets 80%
GALA is currently one of the hottest coins in the top-100, with its chart and indicators reflecting its momentum.
Such momentum has really only just begun, so even if its relative strength index (purple), for example, is in an overbought position, it can afford to remain in such a position for a while yet.
Source: TradingView
Similarly, GALA’s 30-day moving average (yellow) formed a golden cross with the 200-day average (blue) only a couple of weeks ago, inaugurating a period of growth that may last for the next few weeks, if not longer.
GALA’s trading volume is also positive, reaching $1.5 billion today, a figure which represents an 800% increase over the level it reached barely a few days ago.
GalaSwap just got even better!
Full order book now browsable, and CoinGecko pricing information at easy reference when you swap!https://t.co/7whawHi35f
— Gala Games (@GoGalaGames) March 7, 2024
There’s a clear reason for this increase, aside from the general bullishness of the wider crypto market.
In particular, Gala launched the GalaSwap DEX at the end of last month, while the last week brought a number of improvements, further boosting adoption.
This launch has attracted a substantial increase in Gala usage, which was already popular as a decentralized gaming and media platform.
And now that crypto has entered a new bull market, the increased exposure and attention could lead to significant genuine adoption for Gala, which also partnered last week with Alienware and Amazon Web Services for a gaming hackathon.
I am getting more and more excited as confirmations come in from judges for the $GALA #GalaChain Hackathon during @Official_GDC, in partnership with @awscloud and @Alienware.
This is going to be EPIC!
— Jason Brink aka BitBender (@BitBenderBrink) March 8, 2024
Combined with the intensifying bull market, the Gala price is likely to continue rising over the next few weeks.
It could reach $0.1 in the next month or so, before touching $0.3 or $0.4 by the summer.
New Coin Goes Viral on X
Assuming that GALA may have already peaked during the current cycle, some traders may prefer to look to newer, smaller cap tokens.
While the market is currently awash in new coins (many of which are entirely disposable), there are a handful that look very promising at the moment.
This includes Smog (SMOG), which has risen by 8% in the past 24 hours, amid growing interest in the token on X and on the Birdeye and Jupiter DEXes.
Even more impressively, the Ethereum- and Solana-based token has actually gained by 15,000% since its listing at the start of February, with the chart below showing a sustained growth in its price.
Source: Birdeye/TradingView
Volumes have also remained impressive for such a new and low-cap token, with SMOG owing its recent good fortunes to its novel airdrop system.
What’s interesting about this system is that it will hold a series of drops over the next few weeks, with each of these awarding a higher number of coins to holders with the biggest SMOG holdings.
In other words, it’s providing clear incentives to traders to hold onto more of it for longer periods, as its staking system, which currently awards 42% APY.
Together, these incentives will reduce the coin’s circulating supply, thereby increasing relative demand and, by extension, the coin’s price.
$SMOG One #Memecoin To Rule Them All
Buy or stake ERC-20 $SMOG tokens through our website for 42.0% APY.
Tokens staked are locked for 90 days, with rewards withdrawable throughout.
All tokens purchased through the site will be automatically staked.
Link in bio! pic.twitter.com/Y98lZcjuk6
— SMOG (@SMOGToken) February 10, 2024
And as noted above, SMOG is gaining considerable popularity online, with its Twitter account now reaching more than 37,000 followers.
This testifies to the coin’s appeal, as well as the success of its quests in increasing engagement with it and its ecosystem.
It also points to the success it could have once it begins listing on bigger exchanges, with currently able to buy the coin at the official Smog website and on Jupiter and Birdeye.
The post Is It Too Late to Buy GALA? GALA Price Rockets 80% as New Coin Goes Viral on X appeared first on Cryptonews.
