The price of TokenFi (TOKEN) has surged by over 21% in the past 24 hours, reaching $0.0186. This comes after Bitget, a cryptocurrency exchange, decided to delist TOKEN just four days after listing it. TokenFi, which was launched by the Floki team on October 27, has seen a rise of over 500% in the past three days, making it one of the top trending cryptocurrencies on DEXTools.
Bitget cited “significant price fluctuations” and a lack of liquidity as reasons for delisting TOKEN. The exchange also raised concerns about TokenFi’s credibility and the quality of tokens associated with the Floki Inu ecosystem. This announcement could negatively impact TokenFi’s price in the short term.
Technically, TOKEN is showing signs of a bearish trend, with a rounded top chart pattern forming on the hourly chart. If the price drops below the neckline of this pattern at $0.0150, it could continue to decline towards a pessimistic target of $0.0065, representing a 65% decline from the current price.
However, there is still potential for TokenFi to turn around and continue its uptrend. If the price closes above the 20-hour EMA at $0.0205, it could initiate a fresh recovery towards the $0.022 psychological level and potentially reach the pattern’s top at $0.02352.
As an alternative to TokenFi, investors can consider Meme Kombat (MK), which is another meme token that offers staking rewards and wagering benefits on its Battle Arena. The MK presale has already raised over $951,000 from early backers and offers a staking feature with a 112% APY for presale investors.
If you’re interested in participating in the MK presale, you can purchase tokens for $0.1667 using ETH or USDT on the Ethereum chain or BNB on the Binance Smart Chain. The price is expected to increase to $0.183 in the near future.
In conclusion, while TokenFi has experienced a significant price rally, its delisting from Bitget raises concerns about its credibility and could lead to further price declines. On the other hand, Meme Kombat offers an alternative investment opportunity with staking rewards and potential growth in value.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.