Foom Token Sees Steady Decrease in Price
Foom is a project that uses its tokens to train AI bots on how to speculate on cryptocurrencies effectively. Over the past week, the token’s price has been primarily bearish, experiencing constant fluctuations. While these fluctuations have been small, the price has steadily decreased over time.
A week ago, the token was priced at $0.00000003878. It briefly dropped to $0.00000003029 on September 8 before recovering to $0.00000003388. However, the price continued to fall until it reached a strong support level at $0.00000030 on September 12.
Despite encountering resistance at $0.0000000315, preventing it from rising, the token has remained between these two barriers in recent days. Interestingly, its fluctuations have become smaller even as significant events in the crypto industry occurred.
For instance, Bitcoin’s price surpassed $26k recently, positively impacting many cryptos. However, FOOM did not react to this surge. In the last 24 hours, FOOM’s price dropped by over 2%, and it is down around 23% weekly and 43% monthly.
What’s Next for FOOM?
Experts predict a minor price swing of around 5% for FOOM. It is possible that FOOM took longer to respond to Bitcoin’s move, which caused market turmoil. The project’s daily trading volume saw an 11% increase in the last 24 hours, indicating that the price may soon respond to increased activity.
However, with a circulating supply of 175 trillion FOOM tokens, it would likely take significant activity to impact its price. Currently, FOOM remains bearish due to market uncertainty.
Wall Street Memes Presale Still Ongoing
During the negative performance of cryptocurrencies this summer, buyers turned to presales of coins and tokens for opportunities. The popular meme coin presale, Wall Street Memes, is still available for purchase. Inspired by the subreddit WallStreetBets, known for its amateur investors taking risks and discussing investment opportunities, the project has raised over $25 million during its presale.
The token, WSM, is currently in its final stage and can be purchased for $0.0337 using ETH, BNB, USDT, or a credit card. Wall Street Memes serves as a reminder of the subreddit’s successful campaign against institutions that shorted stocks in early 2021.
Hot Take: FOOM Struggles to Gain Momentum Amidst Market Uncertainty
Despite constant fluctuations in price and recent market events like Bitcoin’s surge, FOOM has struggled to gain momentum. The token’s steady decrease in price over time indicates a bearish trend. While experts predict a minor price swing in the near future, FOOM’s large circulating supply may require significant activity to impact its price.
In the meantime, buyers seeking opportunities may turn to the ongoing presale of Wall Street Memes, a popular meme coin inspired by the WallStreetBets subreddit. With over $25 million raised during its presale, Wall Street Memes continues to attract attention from crypto enthusiasts.
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