3 New Cryptos Launched This Week to Keep an Eye On

by

As a seasoned analyst with over two decades of experience in the crypto market, I find myself intrigued by these three newcomers: Unicorn Fart Dust (UFD), Based Turbo (TURBO), and Magaverse (MVRS). Having witnessed countless crypto launches, I can sense the excitement surrounding these coins.

Three recently introduced cryptocurrencies, Unicorn Fart Dust (UFD), Based Turbo (TURBO), and Magaverse (MVRS) are currently making waves in the crypto market. UFD, boasting over 35,000 owners and recording around 162,000 daily transactions, has experienced a 30% decline in the past 24 hours. This sudden drop might offer a promising buying opportunity, as its Relative Strength Index (RSI) stands at 63.

Contrastingly, TURBO has swiftly garnered over 166,000 users and records approximately $2 million in transactions each day. However, the high level of bot activity calls for caution, even though it had a robust debut. MVRS, associated with a political saga linked to Donald Trump’s administration, handles around $11 million daily and has an RSI of 67, indicating a potential correction that might present an opportunity for entry.

Unicorn Fart Dust (UFD)

3 days ago, UFD was first introduced on Pump.fun, later moving to Raydium. Since then, it has experienced rapid growth, boasting more than 35,000 holders and recording approximately 162,000 daily transactions. These numbers underscore a vibrant community involvement and ongoing participation within the token’s environment.

Even though UFD trades approximately $177 million each day, it has dropped around 30% over the past 24 hours, possibly because of profit-taking following its significant increase. This decline in price may cause fluctuations, yet it could also entice potential new buyers searching for an opportunity to invest.

With a Relative Strength Index (RSI) of 63, UFD is approaching overbought conditions, yet it hasn’t surpassed critical thresholds just yet. The recent price drop might present an attractive entry point, as this downturn could signal the slowing of selling pressure and potentially set the stage for a market rebound.

Based Turbo (TURBO)

Approximately five days ago, Turbo (TURBO) was debuted on the Base platform, and it’s already garnered more than 166,000 holders. This swift increase suggests a high level of early enthusiasm for the TURBO token within the Base network.

The number of transactions happening each day is quickly reaching $2 million, with more than 110,000 individual transactions supporting this growth. Yet, it’s important to note that a substantial portion of these transactions have been flagged as automated activity (bots), which has sparked worries about the long-term viability of this increase in activity.

In simpler terms, TURBO’s Relative Strength Index (RSI) is approaching overbought levels at 61, suggesting it might be close to a peak. However, it hasn’t yet reached the critical points that could trigger a significant sell-off. The high level of bot activity indicates potential short-term opportunities, but users need to exercise caution because this increased automation could lead to rapid price fluctuations or potential manipulation.

Magaverse (MVRS)

5 days ago, MVRS was introduced on the Solana blockchain and currently boasts more than 7,000 holders. With daily trading volume approaching $11 million and over 75,000 transactions happening every day, it’s clear that there’s a lot of activity surrounding this coin. However, compared to other coins on the Solana network, the number of holders is relatively small.

MVRS might profit from the impending political wave as Donald Trump takes office in the U.S. Presidency. Similar to other political-related cryptocurrencies, MVRS could find increased interest during significant political events.

Given an RSI (Relative Strength Index) of 67, MVRS is nearing overbought territory and has surged by 30% within the past 24 hours. Should a correction take place, this could potentially offer an attractive entry opportunity for investors intrigued by its compelling political storyline and expanding market appeal.

Read More

2024-12-20 23:41