As Bitcoin, the legend of the industry has achieved a new high recently near $73k all other altcoins have become green. While prices in the blue chip crypto market surged significantly, investors began to eye on the meme coin market to diversify their portfolio. And here BEFE grabs all the attention of the day traders and savvy investors being one of the unique with some real potential in the Bitgert blockchain. Unlike other meme coins, BEFE with utility has gained by more than 580% since its launch. But many are speculating with utility whether the price hike will stabilize somewhere below the gains or there is more to come.
BEFE rally will continue in the longer term
As on CoinMarketCap, BEFE is currently trading at the price level of $0.0005019 with a gain of more than 2.2% in the past 24 hours. Looking at the price trajectory of the coin over the past 1 month, we found that BEFE has gained by more than 18%. However, it is considerable that the meme coin king was launched late in 2023, in just 4 months the coin gained by more than 580% multiplying its investor’s money.
The MACD line is below the signal line which could be interpreted as a neutral sign as of now because it is not much below. On the other hand, the RSI value in the chart is 61.30. This also shows neutral for now means BEFE is neither oversold nor overbought. However, except for some neutral indicator, more than 12 technical price indicators shows bullish sentiment.
Based on the classical pivot point, BEFE has a support level of $0.000414 and the strongest at $0.000345. Similarly, its resistance level is at $0.000696.
BEFE’s unstoppable cryptocurrency phenomenon
Although BEFE holds some interesting utility to stand out among other meme coin, speculation remains as it has been introduced as a meme coin. But interestingly when the price of this meme coin king has been raging by more than 585% other OG meme coins were struggling to gain attention. Over the same period, Dogecoin and Shiba Inu gained by only 132% and 173% respectively. Eating other meme based crypto coin’s market share, BEFE is continuing to skyrocket.
Looking at the utility BEFE holds and considering the factors involved with its price trajectory being a meme coin, analysts believe that 2024 will remain bullish for the meme coin.
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