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bitcoin price rose 1% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>to be traded at $60,530 at 9:55 p.m. EST, despite trading volume falling 28% to $32 billion.
bitcoin price surged yesterday to surpass the $60K level, tracking a surge in broader risk-driven sectors as the positive US labor market helped calm concerns last week that a recession was imminent.
bitcoin price could still rise
According to bitcoin price analysis on the 1-hour chart, btc has been on a sustained rally over the past three days, recovering within an ascending channel pattern. The bulls leveraged the $50,000 support to propel the token higher, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>GeckoTerminal.
btc is now trading above the 50-day and 200-day simple moving averages (SMA), a confirmation of the bullish trend.
Moreover, after a recent drop, the Relative Strength Index appears to be bouncing off the mid-50 level to currently trade at 54, which is an indication that btc bulls are actively buying.
If the buying continues, bitcoin price could rise and the bulls could target the $68,000 resistance. The 50-day simple moving average (SMA) has also crossed above the 200-day simple moving average (SMA), forming a golden cross at $60,000. A golden cross could encourage the bulls to take more buying positions, which could boost bitcoin price.
However, if the bears take control and break the lower boundary of the channel, bitcoin price could again drop to the next major support at $55,000.
As bitcoin price prepares for a possible rally, investors are buying into a new Dogecoin derivative, PlayDoge (PLAY)which analysts believe has great speculative potential.
According to cryptocurrency analyst and YouTuber Jacob Bury, $PLAY could potentially increase 10x after its launch
PlayDoge meme coin raises over $6 million – what is the best meme coin to buy now?
PlayDoge has already raised over $6 million thanks to its ICO. As a derivative of Dogecoin, $PLAY is a meme coin centered around the Shiba Inu dog breed. However, the project is more than just a fun cryptocurrency.
PlayDoge is a P2E (play-to-earn) mobile game that transforms the DOGE meme into a Tamagotchi-style virtual pet, allowing users to earn $PLAY tokens.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”9.5175438596491″>
Don't miss your twitter.com/hashtag/Doge?src=hash&ref_src=twsrc%5Etfw”>#Doge or will die
Feed your Doge, earn rewards, and level up. No mazes, just fun!twitter.com/hashtag/Presale?src=hash&ref_src=twsrc%5Etfw”>#Presale It's already launched! twitter.com/hashtag/PlayDoge?src=hash&ref_src=twsrc%5Etfw”>#PlayDoge twitter.com/hashtag/P2E?src=hash&ref_src=twsrc%5Etfw”>#P2E twitter.com/hashtag/Memecoin?src=hash&ref_src=twsrc%5Etfw”>#Memecoin image.twitter.com/Fp2sFwycpj
— PlayDoge (@PlayDogeGame) twitter.com/PlayDogeGame/status/1796577377746620905?ref_src=twsrc%5Etfw”>May 31, 2024
The project combines 90s nostalgia with modern blockchain technology, allowing users to care for an 8-bit Doge in a retro-style mobile game. Players can feed, play mini-games, and bond with their virtual pets, earning $PLAY tokens in the process.
In addition to earning through P2E, token holders can also earn passively $PLAY bet for an impressive 77% annual percentage yield (APY).
You can buy $PLAY tokens for $0.00527 each. The price will go up in less than 9 hours, so don't wait too long if you want to get the best deal.
Buys PLAY from the official website here using BNB, USDT or a bank card.
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