As a seasoned crypto investor with years of experience under my belt, I must admit that the recent surge in X Empire price has piqued my interest. The launch of the KuCoin Savings Coin and the subsequent listing on several high-profile exchanges have undeniably played a significant role in this meteoric rise.
On November 6th, the value of X Empire surged dramatically and reached its highest point in two weeks following the launch of the X Savings Coin on KuCoin. Additionally, it experienced an increase after Donald Trump’s victory in the US election, a development that could enhance Elon Musk’s influence. The coin reached a high of $0.00010, representing a 215% jump from its lowest point this month.
X Empire Price Reacts to KuCoin Savings Coin
In a recent development, one of the major cryptocurrency trading platforms, KuCoin, has introduced a savings function for a newly debuted Telegram token called X Empire.
As stated on their site, the token is projected to yield a yearly return of 4%. For individual users, the minimum purchase limit is set at 100,000 tokens, whereas the total offering limit (hard cap) stands at 500 million tokens.
It’s significant to mention that KuCoin stands out as it’s one of the largest cryptocurrency trading platforms, boasting over 34 million users. In the past day alone, its spot market has traded tokens valued at approximately $1.4 billion, positioning it among the top 10 players in the field.
As a researcher, I’ve noticed an intriguing development: The coin in question is currently listed on several prominent exchanges, including some big names like Bybit, OKX, Bitget, KuCoin, and Gate.io. Interestingly, the majority of its trading volume has been observed on Bybit thus far. If this pattern persists, there’s a growing possibility that Binance, the largest exchange, might also consider listing it.
The cost within X Empire increased following Trump’s victory, an action likely to bolster Elon Musk, one of Trump’s staunch supporters. Trump has pledged to assign Musk as head of the Department of Streamlined Governance.
Consequently, the X Empire, along with other digital currencies inspired by Elon Musk such as Dogelon Mars, ELON Coin, and King of MEMES experienced a surge in value, registering gains in double digits.
Furthermore, the value of X cryptocurrency climbed following an increase in the amount of open futures contracts, which hit a new peak of $10.8 million.
Could X Token Surge To $0.00015?
Today’s cryptocurrency market analysis shows that the price of X hit its lowest point, which was $0.000032, on November 3. However, by Wednesday, it had bounced back and reached a high of $0.00010.
After the token displayed a falling wedge formation from October 25th to November 3rd, we witnessed a bounce back, which is often a sign of a bullish reversal in trend, given that a falling wedge is among the most optimistic reversal patterns.
The X Empire’s coin has climbed over its 25-day moving average, but it has experienced a slight retreat as some traders decide to cash out their gains.
It’s quite possible that the X price will rebound, given that many cryptocurrencies tend to recover.
If the coin surpasses this week’s peak of $0.00010, it could strengthen the assumption that a double-top pattern has been disproven. In such a case, the price of X Empire could potentially reach the significant resistance at $0.00015, marking an increase of approximately 106% from its current value.
Conversely, if the price falls below the support at $0.000066, it could indicate further price drops, possibly reaching the historical low of $0.000032.
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2024-11-06 19:54