Recent developments in the altcoin market have drawn trader interest. Significant price movements in OKB and SHIB coincide with attention on the Cold Wallet project, which offers a unique rewards system.
OKB Faces Profit-Taking Pressure
OKB's price spiked 160% in a single day, becoming a notable headline in the market. This surge followed news of a burn and IPO rumors regarding OKX. However, the rally also attracted sell pressure.
In just 24 hours, approximately 553,000 OKB valued at $58 million was transferred to exchanges, creating significant selling pressure. Technical analysis indicates risks of liquidations if prices fall below $92. The Chaikin Money Flow also exhibits weakness, signaling inadequate supporting demand for a sustainable rally.
SHIB Records Explosive Surge in Burn Rate
Shiba Inu's burn rate exploded, increasing by 48,244% in a single day, resulting in the destruction of over 87 million SHIB. This event reignited interest in the meme coin, which is holding steady above $0.000010.
With this pace, some analysts believe SHIB may push towards $0.00002. However, history shows that even substantial burns do not always lead to lasting price momentum without steady buyer support, leading to divided views among traders.
Potential of Cold Wallet and Its Distinction from Speculative Plays
Cold Wallet offers a unique rewards system where each transaction involving gas payments, swaps, or bridging leads to cashback in CWT. This principle changes the conventional approach to fees, turning them into rewards.
Cold Wallet has already raised over $6.4 million and sold 754 million tokens, reflecting user support. With an upcoming launch price of $0.3517, the project has a 3,423% growth potential, rewarding participants for their active engagement.
Amid recent developments in the altcoin market, OKB and SHIB show distinct patterns of growth and selling, while Cold Wallet stands out with its unique offering. Interest in the project has heightened, and experts continue to closely monitor its progress.
