Alien Base crypto soars nearly 60% in 24 hours – Analyzing the sudden jump

Alien Base crypto surged nearly 60% in 24 hours.
The altcoin is less than a month old but has over 80K users.

As a seasoned analyst with over a decade of experience in the cryptocurrency market, I have seen my fair share of moonshots and pump-and-dumps. The recent surge of Alien Base [ALB] is reminiscent of the wild west days of crypto, where new projects can skyrocket overnight based on hype and speculation.

On October 28th, Alien Base [ALB] stood out as one of the top-performing, cutting-edge investments. This innovative platform is actually a fresh, decentralized marketplace specifically designed for swapping meme tokens, and it has only been in existence for less than a month.

It is the equivalent of Solana’s [SOL] Raydium or Jupiter, purely for degenerate speculation.

In the last day, the native token of this platform, called ALB, experienced a surge of approximately 60%. You can find it not only on Alien Base, but also on Uniswap as well as several other trading platforms.

The volume significantly increased more than twice, showing high levels of speculative excitement about the newly introduced token. It skyrocketed from approximately $200K to around $600K within a short period of time.

Alien Base crypto price action

Over the last three days, the value of this altcoin soared by almost 100%, currently standing at approximately $0.13. With sustained market excitement, there’s a possibility that ALB might aim for $0.15 or even $0.17 in the immediate future.

Nevertheless, the value of ALB might experience significant fluctuations due to upcoming U.S. labor reports and elections next week, which could impact the price movement of Bitcoin [BTC].

If an intense downtrend occurs for ALB, it might reverse its current progress and potentially drop to around $0.08 or even $0.07.

It’s worth noting that even though it’s just a month old, the user base for the ALB token has significantly grown, reaching almost 84,000 users, as shown by Gecko Terminal.

Approximately three-quarters of the existing ALB supply is controlled by just ten user accounts, creating a highly concentrated market that might substantially influence the price trend for ALB. This concentration, coupled with it being a new token, increases its vulnerability to market swings.

By monitoring macro changes and identifying the addresses holding the largest quantities of ALB, we can gain insights into potential future price movements for ALB.

2024-10-28 21:11

Alien Base crypto price action

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