The crypto market’s uncertainty before the FOMC meeting results has favored the Kaito token price and others. In the last 24 hours, this trending altcoin has surged nearly 50% and is attempting to go higher amid optimistic investors. Others like Bitcoin, Ethereum, etc, are also up, but KAITO is the biggest gainer of the day. Why? Let’s discuss the key details around its uptrend and what’s coming next.
Kaito Token Price Explodes Today Amid Key Developments
Although the FOMC meeting result hype is pumping the entire crypto market, the Kaito token price is up amid its key developments. KAITO’s integration with Huma Finance’s Yapper leaderboard and others allows Yapper (users) to earn rewards, boosting investors’ sentiments.
Another factor catering to community engagement is the launch of KAITO’s ‘Earn and Drop’ campaign with the PayFi Network BOOP.
Not to mention, the Kaito team rewarded the community with more than $71M in rewards, aside from the airdrop. These catalysts together resulted in the 50% rally today and more than 70% from its previous month’s dip.
At present, it trades at $1.27 after hitting a month high at $1.41 per CoinMarketCap. With a 70% surge in its trading volume to $651.86M, the Kaito token is booming with investor activity and a rally.
Kaito Token Price Prediction: Will KAITO Rally or Crash Next?
Despite the new launch amid the neutral to bearish market conditions, KAITO received significant attention, hitting an ATH at $2.92 days after launch. Following that, a long downtrend began before trends changed today.
Crypto expert ALTF4 and others’ Kaito price predictions reveal that the token has broken out of a descending trendline, resulting in a bullish uptrend.
The key technical indicators reveal that the holders bear strong buying pressure.
As a result, experts foresee a $1.50-$1.75 price target based on a rounded bottom pattern and signs of bullish reversal. However, the dominance in sellers’ activity and other factors could hinder the rally, signaling the uncertainty.
Frequently Asked Questions (FAQs)
Along with the rest of the crypto market, the price of Kaito token is rising amid key developments and investors’ confidence in the altcoin.
According to many crypto experts, KAITO is on a bullish reversal trail and will likely surge higher unless the trend changes.
Despite today’s 50% surge, KAITO stands more than 50% down from its ATH. Experts see it hitting $1.75 in a bullish case, but the ATH is currently off-limits.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/trending/why-kaito-token-price-exploded-50-today-whats-next/
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