The DeepBook Protocol, a decentralized central limit order book for the Sui ecosystem, has experienced a significant 45% price surge in 24 hours, attracting crypto traders' attention.
DEEP's Upward Trend
As of the night of October 21, DeepBook Protocol's market cap stood at $208.84 million with a trading volume of $141.23 million. DEEP saw a bullish rally starting from $0.0556, gaining traction among traders.
Bullish Flag Pattern
The DEEP token has formed a bullish pennant pattern, indicating continued upward movement following a consolidation period. The price is fluctuating within a narrow resistance range between $0.08000 and $0.090000. This Sui-based project, launched on October 14, has shown increasing market interest.
Prospects for Further Growth
With a total supply of 10 billion tokens, only 2.5 billion were initially released, which adds to DEEP's appeal. The remaining tokens will likely be released in the next seven months. As part of the initial launch, over 100,000 individuals received DEEP tokens through 'DBClaim' NFTs. Reaching an all-time high of $0.094 with a trading volume of $163 million, DEEP ended the day with a 91% bullish sentiment.
DeepBook Protocol exhibits an impressive growth trajectory supported by traders' interest and bullish market sentiment. With further token releases planned, the project holds potential for sustained growth.