While the Binance platform suffers from several negative news publications, another KuCoin platform could exploit it to recover market share and establish itself in the crypto industry. Discover the reason why the price of the KCS token could increase!
Soon a rise in the price of KuCoin Token (KCS)?
The KuCoin (KCS) token is trading for $7,368, up 0.50% over the last 24 hours. Since the beginning of 2023, the token has recorded a fairly decent performance. However, sellers still largely dominate the market, and the medium-term technical trend remains bearish.
The observation of the daily chart reveals the formation of a technical consolidation around $7.40, with a very strong tightening of the Bollinger bands, characteristic of a strong reduction in volatility in the markets. We will likely witness a fairly violent rupture of this zone in the next few days.
In the short term, the momentum is still bearish, and the market is still largely dominated by sellers. This is also confirmed by the RSI indicator, which is still systematically below the 50 mark. The support zone around $7.40 could nevertheless stop the infernal fall of KCS and initiate a bullish momentum. If this scenario is confirmed, the next resistance is around $8.70, representing an upside potential of 17.57%.
At the level of fundamental analysis, it will also be necessary to remain attentive to the evolution of KuCoin's market share and, of course, the general evolution of the crypto market. The recent drop in the volume of transactions on the Binance platform now benefits all competing platforms, including, in particular, the Kucoin cryptocurrency platform. According to data provided by CoinGecko, we see a slight increase in market share between February and March 2023.
Even superior to Kucoin KCS? Learn about the AiDoge presale!
One project, AiDoge, continues to draw millions of dollars to the cryptocurrency markets as artificial intelligence and meme coins gain popularity. If you don't understand what this project's name signifies, it will fund the creation of a technology for automatically creating memes.
Internet users quickly copy and spread memes, which are popular humorous files (images, videos), often with slight variations. If the first meme appeared in the 1920s in a cartoon, the Internet and social networks made it possible to quickly distribute these files and thus contribute to ensuring their popularity.
AiDoge wants to revolutionize the meme industry:
AiDoge intends to revolutionize the creation of memes on the Internet. While most Internet users were content until now to share memes, it will now be possible, without any technical skills, to automatically generate a meme on the fly from a simple description. Textual.
Several crypto influencers anticipate a strong explosion in the price of the $AI token:
As Aidoge's presale approaches its conclusion, anticipation grows among several crypto influencers for a surge in the price of the $AI token. One prime example is the American YouTuber Crypto Smith, who appears exceptionally upbeat in a video posted on his official YouTube account. He makes a point of equating AiDoge with Dogecoin, the head of the same currency. This well-known YouTuber has more than 21,000 subscribers on his YouTube channel.