Token

Render

Big Time

Time

<p>The price of RenderToken (RNDR) has seen a significant 12% surge over the last 24 hours, making it one of the top gaining altcoins. According to CoinMarketCap, RNDR is currently trading at <a href="https://coinmarketcap.com/currencies/render/" target="_blank">$5.65</a> with a 24-hour trading volume of $314 million. Over the last day, the RNDR price has increased by 14.42%.</p> 
<h2 class="wp-block-heading" id="strong-whale-takes-2-4-million-profit-strong"><strong>Whale Takes $2.4 Million Profit</strong></h2> 
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 <img loading="lazy" decoding="async" width="1024" height="657" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-1024x657.png" alt="" class="wp-image-439189" style="width: 100%;height:auto" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-1024x657.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-300x193.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-766x492.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-1536x986.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-2048x1315.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-234x150.png 234w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-545x350.png 545w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602-788x505.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-602.png 606w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>This upward price movement comes just after it was reported that a whale took substantial profits from their RNDR holdings. As <a href="https://platform.spotonchain.com/en/signal-details/whale-took-a-huge-profit-from-rndr-investment-28476" target="_blank" rel="nofollow">highlighted</a> by Spot On Chain, an anonymous whale address deposited 699,568 RNDR tokens, worth $3.46 million at the time, to Coinbase after accumulating them for months at lower prices. The estimated profit for the whale address was $2.41 million.</p> 
<p>Surprisingly, this large-scale sell-off did not negatively impact RNDR’s price. In fact, RNDR has only surged higher since then. This suggests that even huge whale profits do not always affect a cryptocurrency’s market performance.</p> 
<p>Besides the whale activity, RNDR also has strong fundamentals backing its recent upside momentum. RenderToken aims to build a GPU rendering network on Ethereum, connecting artists requiring significant computing power with mining partners.</p> 
<h2 class="wp-block-heading" id="strong-bullish-technical-pattern-emerging-strong"><strong>Bullish Technical Pattern Emerging</strong></h2> 
<p>Additionally, positive sentiment has been growing around RNDR in trading circles. <a href="https://x.com/dani_unss/status/1758457097702830092?s=20" target="_blank" rel="nofollow">According</a> to a top crypto analyst on X going by dani_unss, RNDR appears to be forming an optimistic cup and handle pattern. “RNDR cup &amp; handle pattern, target 10$ Bullish on $RNDR,” tweeted dani_unss.&nbsp;</p> 
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 <img loading="lazy" decoding="async" width="1024" height="769" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-1024x769.png" alt="" class="wp-image-439181" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-1024x769.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-300x225.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-767x576.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-1536x1153.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-2048x1538.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-200x150.png 200w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-100x75.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-466x350.png 466w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601-788x591.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-601.png 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The analyst believes the technical pattern signals additional upside for RNDR price, with an eventual target of $10. They seem convinced of RNDR’s bullish potential overall. However, Dani_unss also advised interested traders, “Of course, if you want to be safe, buy on Spot!” indicating that buying the underlying asset directly could be a safer move versus risky derivatives products.</p>  
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<p>Consequently, between the continued development, underlying use case, and technical factors, RNDR has several tailwinds behind its ongoing rally. While short-term profit-taking fluctuations are likely, RNDR appears positioned for additional upside based on its 12% single-day surge after the whale transfer.</p> 
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<p>The post <a href="https://captainaltcoin.com/render-token-rndr-price-surges-as-whales-cash-out-big-time-but-theres-a-catch/">Render Token (RNDR) Price Surges as Whales Cash Out Big Time – But There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Render Token (RNDR) Price Surges as Whales Cash Out Big Time – But There’s a Catch

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