DEGENUSDT: break out, accumulate for 5-6x!!
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Let's analyse DEGENUSDT both fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Degen (DEGEN) started as a reward token for participants in the Farcaster Degen channel. What began as a meme coin now boasts a substantial following of developers, crypto content creators, and enthusiasts who have bought into the coin. During its initial launch, 15% of the total supply was airdropped to active members of the Farcaster's Degen channel, and there are plans to airdrop 70% of the token's total supply eventually.
TECHNICAL ANALYSIS:
DEGENUSDT has demonstrated a bullish breakout from a parallel channel pattern. The price is currently supported by the 100-day Moving Average (MA). On a lower timeframe, DEGEN is forming a bullish pennant, indicating a potential continuation of the uptrend. This presents a favorable opportunity to accumulate here.
Entry Zone:
$0.0054 to $0.0076
Targets level:
Expecting 5x-6x
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyse DEGENUSDT both fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Degen (DEGEN) started as a reward token for participants in the Farcaster Degen channel. What began as a meme coin now boasts a substantial following of developers, crypto content creators, and enthusiasts who have bought into the coin. During its initial launch, 15% of the total supply was airdropped to active members of the Farcaster's Degen channel, and there are plans to airdrop 70% of the token's total supply eventually.
TECHNICAL ANALYSIS:
DEGENUSDT has demonstrated a bullish breakout from a parallel channel pattern. The price is currently supported by the 100-day Moving Average (MA). On a lower timeframe, DEGEN is forming a bullish pennant, indicating a potential continuation of the uptrend. This presents a favorable opportunity to accumulate here.
Entry Zone:
$0.0054 to $0.0076
Targets level:
Expecting 5x-6x
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
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