As Bitcoin aims for a price beyond $66,000, Coinbase has made headlines with its announcement of the upcoming listing for DEGEN Coin. This news has already sparked a surge in the price of DEGEN, fueled by an overall positive sentiment in the cryptocurrency market.
What Are the Implications of This Listing?
How Will Traders React to Price Movements?
Coinbase is set to activate the trading of DEGEN Coin tomorrow, with expectations for high trading activity. However, it is crucial to note that the exchange may postpone the listing if liquidity thresholds are not achieved. With Bitcoin experiencing a daily increase of 5%, the altcoin market eagerly anticipates this development.
In reaction to the listing announcement, DEGEN Coin’s price has surged to $0.01214, reflecting a notable uptick. Nevertheless, the coin faces a resistance level established on October 2 that still stands. A sustained demand post-listing could help breach this barrier, pushing prices to new heights.
If there is a downturn, DEGEN could test support levels at $0.00920 and $0.00709. Traders should prioritize using the BASE network for transactions and ensure they are using the correct token contract address to avoid counterfeit tokens. The verified contract address for DEGEN is 0x4ed4e862860bed51a9570b96d89af5e1b0efefed.
- DEGEN Coin experiences a price surge following Coinbase’s announcement.
- Traders should monitor resistance and support levels closely.
- Ensure transfers utilize the official token contract address to avoid scams.
With the cryptocurrency landscape constantly evolving, the response to the DEGEN Coin listing will be crucial in shaping market trajectories and trader strategies moving forward.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/coinbase-lists-degen-coin-as-bitcoin-rises