‘Rally Signal Burned’ These 4 Altcoins Might Surprise Everyone!

Crypto analyst Kelvin Munene talks about a bull wave for RNDR. Classy Crypto, on the other hand, is waiting for a pump for the altcoin with Shibarium. Analyst Hououin Kyouma assesses the increase in MATIC trading volume. Finally, analyst Kent Glory comments on KAVA’s positive price action.

Bull signal burned for this altcoin!

The leading blockchain GPU network, Render Network, enters the fields of artificial intelligence (AI) and machine learning (ML) tasks, ushering in a new era of innovation. With the latest offering from RNP-004 – Open Compute Clients, Render Network aims to harness the computing power of its nodes through the network’s API.

This exciting development has generated enthusiasm in the crypto community. This resulted in an increase in Render Token (RNDR) prices. During the day, the RNDR rose from the low of $1.96 to the high of $2.04. Thus, he witnessed a remarkable bull run. RNDR is currently trading at $2.03. The altcoin is supporting the bullish trend among market participants with an increase of 3.39%.

The upcoming challenge for RNDR is to overcome the historical hurdle at the $2.04 resistance level. Breaking this level, which has been known to hinder the token’s price action in the past, will mean a significant breakthrough. It will also potentially pave the way for more bullish momentum.

Analyst: Burning 5 trillion SHIB per month could pump the price!

The host of the Classy Crypto YouTube channel believes that the release of Shibarium will add significant excitement to the Shiba Inu ecosystem. The release of Shibarium could create a surge for SHIB. The analyst identifies the Shiba Inu team’s proposed burning of five trillion SHIB as one of the main factors behind the anticipated hype. It also cites comments from official Shiba Inu ecosystem marketing expert LucieSHIB.

According to LucieSHIB, the burn mechanism will reduce the supply of SHIB when users transact within the Shiba Inu network. Locks the base fee in the Shibarium contract when users transact on the Shiba Inu network. While the base fee is locked, validators will be paid priority fees. LucieSHIB says the locked base wage will be split, 70% will be burned. He notes that the remaining 30% will be reserved for network maintenance. He also states that the combustion process aims to encourage user engagement. In line with this, he states that the team envisions it to contain five trillion SHIBs each month.

Classy Crypto host believes that the goal can be reached in time and the launch of Shibarium will play an important role in speeding up the whole process. He says the release of Shibarium is something the Shiba Inu ecosystem has been waiting for for a long time. According to the host, the Sibarium launch will mark an important time for the Shiba Inu. Therefore, it is possible for SHIB to initiate a significant move in its price.

This altcoin trading volume is growing strong! What does it mean?

cryptocoin.comAccording to data from Santiment, some altcoins have experienced an increase in trading volume over the past few days. The “transaction volume” here is an indicator that measures the total daily amount of a particular cryptocurrency involved in transactions on the Blockchain. When the value of this metric is high, it means that a large number of tokens are swapped on the network. Such a trend is a sign that the asset’s traders are currently actively participating in the market.

On the other hand, low values ​​mean that the cryptocurrency is currently observing a low amount of activity. This kind of trend indicates that there is not much interest in cryptocurrencies among general investors at the moment.

From the chart above, we can see that the trading volume of most altcoins fell to relatively low values ​​a few days ago. This shows that interest in them has waned. However, in the last few days, the benchmark value of these assets has come back. This shows that investors are once again participating in the trade.

The chart shows that two altcoins in particular benefited from the sharpest increase in the metric. These are: MATIC and BNB. This means that these cryptocurrencies are currently supported by stronger interest. Generally, a large amount of volume is needed to sustain sharp movements in price. Because high volume indicates the presence of a large number of investors who will provide fuel for such a move to occur.

In the case of MATIC and BNB, the increase in their prices coincided with the increase in trading volumes. This means that this new buy/sell interest is headed to the buy side, at least for now. With this latest uptrend, the price of MATIC has increased by almost 9%. Naturally, this new increase is likely to continue in the near future if the trading volume remains high in the coming days.

KAVA has posted positive price action, what’s next?

KAVA is priced at $1.06. It also made a 5.51% gain in 24 hours. Its weekly price registered an increase of 11.31%. However, KAVA’s trading volume is currently at 59,625,037, down 22.88%. This is unexpected given the increased price gains. Looking at the decreasing volume, we see that the participation in trading activities with KAVA is low. Also, the global market Fear and Greed Index is currently at 57 and showing Neutral. Therefore, the continuation of current earnings in KAVA is a question mark.

Also, the daily chart of KAVA shows that the RSI is at 62 and is heading towards the overbought area of ​​70. Such a move means that the trend will reverse to the downside once the asset reaches the overbought zone. So, while investors may be emboldened by the greenish moves represented by KAVA’s trend above the 50-day moving average today, they should be cautious given the possibility of an imminent downtrend.

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