Why Helium Price Is Skyrocketing As Mobile’s Subscriber Count Soars to 112K

As a researcher with extensive experience in cryptocurrency markets, I must admit that watching the Helium price surge has been nothing short of fascinating. Having closely followed its development since its early days, it’s remarkable to see how far this decentralized wireless network has come – from a mere concept to a network with over 112,000 subscribers in just one year!


As a researcher, I’ve noticed an impressive spike in the price of helium over the last week, fueled by an increase in subscribers and hotspots. Interestingly, the HNT token, despite forecasts predicting a Bitcoin price below $50,000, has soared more than 18%. Intriguingly, among the top 100 crypto assets on CoinGecko, HNT was the third-largest gainer, trailing only Toncoin (TON) and Sui (SUI). Upon closer examination of the technical analysis, it appears that the upward trend for HNT suggests a potential 63% surge in the near future.

Helium Price Surges As Mobile’s Subscriber Count Exceeds 112,000

As an analyst, I’ve noticed an intriguing trend: The number of Helium mobile subscribers has soared past 112,000, triggering a substantial 40% jump in HNT price within mere months following the milestone of 100,000 subscribers. This remarkable spike represents a staggering 300-fold increase over the past year, suggesting a burgeoning embrace of the decentralized wireless network.

Helium is a project that builds a decentralized network for Internet of Things (IoT) devices. This network allows IoT devices to communicate and exchange information with each other, using hotspots as intermediaries. These hotspots act as both wireless gateways and miners for a blockchain system.

In addition to an uptick in subscribers, there’s been a significant boost in network usage, implying that a larger number of individuals and devices might be leveraging Helium’s services for data exchange, tracking, and communication purposes.

Why Helium Price Is Skyrocketing As Mobile’s Subscriber Count Soars to 112KIn addition to its strong fundamentals, Helium’s active token burn mechanism reduces the circulating supply of HNT, further contributing to its price increase. As the supply decreases, the growing demand helps drive the Helium price higher.

HNT Price Analysis Shows Potential For 63% Extended Gains

Following a remarkable surge of over 128% in under two months, the cost of Helium is primed for further growth. The value of HNT peaked at $11.06 on February 12, 2024, only to retreat back to $2.88. However, it bottomed out at $2.88 in July, rebounding from the 0.786 Fibonacci retracement level, and kick-starting its recent upward trend.

The price of HNT might encounter resistance at approximately $9.00, which corresponds to the 23.6% Fibonacci level. If it manages to break past this point, we could see a jump towards $11.50 – $12.00, close to its previous peak. If the positive trend persists, there’s potential for the price to reach $14.00, which would represent a 63% increase from its current value.

Why Helium Price Is Skyrocketing As Mobile’s Subscriber Count Soars to 112K

As a crypto investor, I’ve got my eyes peeled on the crucial support zone that sits between $6.00 and $7.00. This area is significant because it aligns with the 61.8% Fibonacci retracement level. If there’s a pullback, this level will be pivotal to keep tabs on, as it could potentially halt or reverse any downtrend.

The general feeling towards Helium’s price has remained optimistic, fueled by its distinctive DePIN storyline. Technicals suggest possible additional increases, reinforced by a robust upward momentum that is expected to draw in even more project enthusiasts.

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2024-09-06 15:46