Rollbit’s RLB has entered a phase of parabolic growth this month, soaring 60%.
It’s currently trading at $0.097 – can hit $0.2 in September?
RLB Shows Strength On Revenue-to-Market Cap Ratio, Bullish September Outlook
Rollbit has shown relative strength against other cryptocurrencies this month, enabled by an emerging narrative that crypto casinos are undervalued.
RLB is supported by Rollbit’s revenue, which reportedly totals $25 million monthly.
Rolbit uses a portion of its revenue to buy back RLB from the open market and then burns it, rendering the token deflationary. This also adds to RLB’s demand, helping underpin its long-term price stability.
While revenue and buybacks will not double RLB’s price in a month, the knowledge of these features is growing and creating token demand, which could enable rapid price appreciation.
Currently, RLB has a market cap of $260 million, which is less than its annual revenue. Analyst GLC compared this revenue-to-market cap ratio to other popular crypto apps like Uniswap, Lido DAO, and Maker.
According to the analyst’s estimates, Rollbit’s fair value is around 500% higher than its current price.
This alone is a strong tailwind that could drive investors to Rollbit token.
But analysts are also bullish on its price chart.
Rollbit has experienced strong selling pressure since its November 2023 peak. However, it has recently established a strong macro level and broke a trendline resistance, signalling a shift in momentum from bearish to bullish.
Analyst Henry suspects the next upward rally will see RLB reach highs of $0.26.
Rollbit has shown considerable strength both fundamentally and technically. This comes at a time when the broader crypto market struggles to gain pace. With that, there’s every chance that RLB hits the $0.2 mark this month.
And since Rollbit leads the GambleFi sector, this could enable other projects to rally. One project to watch is Memebet, which is currently undergoing a presale and has raised $200K in two days.
Memebet Blends GambleFi With Meme Coins as Presale Gets Off to Strong Start
Memebet token is a crypto casino project that provides utility to meme coins.
Users will be able to wager top meme coins like Dogecoin, Shiba Inu, and Pepe, adding extra excitement to the GambleFi industry.
There will be thousands of games and sportsbook events to gamble on, but the project’s big focus is community rewards.
Its first call of order is a Play-to-Earn airdrop. Users who wager $MEMEBET tokens in presale will be eligible for the airdrop season 1 rewards.
However, the team promises to keep the giveaways coming, ensuring the user base remains engaged and active.
Memebet token tackles two huge markets. The meme coin sector hit a $60 billion market cap in 2024, and the online gambling industry is projected to reach $132 billion in revenue by 2029.
The project is undergoing a presale and has raised over $200K in two days. Analysts are already recognizing its potential.
For example, RJ from Cryptonews says it can 100x.
“You can wager with meme coins – this is super cool,” he said.
The current Memebet presale price is $0.0251.
However, this will gradually rise throughout the campaign, with the next increase occurring in three days.
Visit Memebet Token Presale
Source: https://www.cryptopolitan.com/rollbit-price-prediction-will-rlb-hit-0-2-this-month-after-60-gain/