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The THORChain price surged 13% in the last 24 hours to trade at $3.68 as of 4 a.m. EST on trading volume that soared 33% to $208.2 million.
The project’s recent price surge was followed by a number of positive news involving the project, one of the most recent of which was a partnership between THORChain and Kujira, a decentralized ecosystem for protocols, builders, and Web3 users looking for sustainable FinTech.
The partnership between @THORChain and @TeamKujira was officially announced last week and has caused a wave of excitement across both communities.
THORChain X Kujira = $RUJI 🤝
What else has happened?
Follow along!
🧵👇🏻
Top Affiliates by Swap Volume@TrustWallet – $56M 🥇… pic.twitter.com/COBQwZaCIs
— Rayyyk (@rykcrypt) August 12, 2024
The partnership was announced a week ago, and reports say that it caused plenty of excitement across both communities. Before that, THORChain launched RUNEPool on July 31, which is also still commonly talked about in the project’s community.
This is a new way of providing RUNE tokens as liquidity in multiple pools at once, allowing users to earn yield against a diverse bucket of L1 assets and stablecoins.
RUNEPool is LIVE 🌊⚡️
RUNEPool is a new way to provide $RUNE as liquidity in multiple pools at once to earn yield against a diverse bucket of Layer 1 assets and stablecoins
Interfaces are now live to deposit and earn yield on your $RUNE
Full announcement below pic.twitter.com/15W1mDMXag
— THORChain (@THORChain) July 31, 2024
These and similar developments have been maintaining hype in the THORChain community, and that is also reflected in the project’s price, which managed to breach the resistance at $3.60 and is currently balancing right above it.
THORChain Price Prediction
The RUNE price has seen strong performance lately, especially in the last 24 hours. However, the token’s price has seemingly reached its limit, and it was unable to reach the next resistance at $3.70. And, according to some technical indicators, it is possible that RUNE will soon see a correction.
The project’s Bollinger bands have narrowed quite a bit over the last 15 hours or so, which is a bearish sign. The price has been fluctuating between the upper and lower band, but now, it appears that it has started to push the lower band further down. On one hand, this could lead to another widening, but with the price pushing down, this is more of a bearish signal than bullish one.
Then, there is the project’s Relative Strength Index (RSI) value, which has been in the overbought zone a lot in the last two days. Since then, it started fluctuating between the overbought and neutral area, with a few instances of briefly heading toward the oversold zone before recovering.
Now, however, it is spiraling down again, which suggests that the bears are taking over the market. In other words, now might not be the best time to buy RUNE for short-term gains. Instead, traders might want to consider waiting for the correction to take place before buying the dip.
RUNE could potentially abandon this course of action in hours to come, but only if a strong enough bull run takes over and pushes the entire market up, otherwise a correction seems the most likely thing to happen next.
Promising Alternatives to THORChain
While RUNE is likely to see a correction in the near future, there are other options for investors looking for the best opportunities right now. One of them is Base Dawgz (DAWGZ) — a new dog-based meme coin developed on the Base blockchain which is rapidly approaching its next milestone.
Base Dawgz is a project inspired by the thrill and freedom of base umping, and it embodies the spirit of adventure and innovation. It uses the latest Web3 technologies such as Wormhole and Portal Bridge to ensure true interoperability between five blockchains — Ethereum, Solana, Avalanche, Binance Smart Chain, and its native Base.
We’re dedicated to enhancing the Base Dawgz experience for our amazing community. While it won’t happen overnight, we’re making thoughtful decisions to ensure the best outcomes for $DAWGZ.
Thank you for your patience and support as we continue to grow together! pic.twitter.com/VeX7hzdcph
— Base Dawgz (@BaseDawgz) August 2, 2024
In other words, while it was developed on Base, once it goes live, it will run simultaneously on all five chains, allowing for seamless transfers of money between them. This would allow users to use all five blockchains and all of their opportunities and potential to the fullest, accessing their strengths and avoiding their weaknesses by simply switching to a different chain when needed.
This potential is what made the DAWGZ ICO blow up, and right now, it is rapidly approaching $3 million raised, currently at $2.91 million. Its DAWGZ token was commonly referred to as a crypto with 100x potential by experts, such as crypto YouTuber Cryptonews.
Right now, the token is selling for $0.007784, but in less than six days, it will see its next scheduled price increase. This leaves users with enough time to do their research and purchase DAWGZ with ETH, USDT, USDC, BUSD, BNB, SOL, or AVAX if they decide to get involved with the project.
Visit DAWGZ official website.
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