Token

Reddit

MOON

The post <a href="https://coinpedia.org/price-analysis/amidst-the-reddit-ipo-craze-moon-and-donut-tokens-prep-for-a-bull-run/" rel="noopener noreferrer nofollow">Amidst The Reddit IPO Craze, MOON and DONUT Tokens Prep For A Bull Run!&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
As Reddit’s IPO is coming closer, the demand for its community tokens is on the rise. Further, the ongoing bull run in the crypto market with a specific rise in underrated altcoins, the investors are on the lookout for such tokens.&nbsp;
Before heading to the tokens price analysis, here’s a short brief on the Reddit IPO. According to the filing, the social media company known for its strong community support has reported a positive FY2023 performance. With sales crossing $800 million, the company holds a total asset portfolio of $1.6 billion, with $1.3 billion in cash reserves. Further, Reddit also has crypto holdings in Bitcoin, Ethereum, and MATIC.&nbsp;
<h2 class="wp-block-heading" id="h-reddit-s-moon-token-teases-1-breakout">Reddit’s MOON Token Teases $1 Breakout</h2>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/03/18144234/image-155-1024x509.png" alt="" class="wp-image-279650" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/18144234/image-155-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144234/image-155-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144234/image-155-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144234/image-155-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144234/image-155-150x75.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144234/image-155.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<a href="https://www.tradingview.com/x/p3ae7SdG/" rel="noopener noreferrer nofollow">Tradingview</a>
With a bearish start last year, the MOON token showed a remarkable performance in late 2023 and in 2024. The community token of Reddit takes a bullish reversal from the low of $0.01980 and currently trades at $0.49.&nbsp;
With a rounding bottom reversal, Reddit’s community token price shows a 1326% jump in 150 days. Further, the bounce back surpasses the $0.60 mark for a new all-time high at $0.77160. Currently, the MOON price shows a rounding bottom breakout and retests the $0.50 range breakout.&nbsp;
Hence, the chances for a bullish comeback for Reddit’s token are on the positive spectrum. Optimistically, as per the Fibonacci levels, the price jump could reach the overhead 2.618% level at $1.28. Therefore, the chances of a $1 breakout in MOON price are skyrocketing.
<h2 class="wp-block-heading" id="h-donut-price-jumps-with-a-breakout-possibility">DONUT Price Jumps With A Breakout Possibility</h2>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="573" src="https://image.coinpedia.org/wp-content/uploads/2024/03/18144306/image-156-1024x573.png" alt="" class="wp-image-279651" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/18144306/image-156-1024x573.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144306/image-156-300x168.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144306/image-156-768x430.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144306/image-156-1536x859.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144306/image-156-150x84.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/03/18144306/image-156.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<a href="https://www.tradingview.com/x/GWcvptVY/" rel="noopener noreferrer nofollow">TradingView</a>
With a bullish trend in the daily chart, the DONUT price action shows a sharp bounce back from the low of $0.0050. Currently, the community token trades at $0.02715 and projects a massive jump on Sunday.&nbsp;
With a massive bullish engulfing candle to end last week, Reddit’s community token is starting the week with a pullback of 9.47%. Nevertheless, the surge in trading volume supporting Sunday’s bullish frenzy projects a high likelihood of an uptrend continuation.&nbsp;
Considering the uptrend surpasses the $0.037 mark, the DONUT price could create a new swing high. As per the trend-based Fibonacci levels, Reddit’s community token could peak at $0.05707.
Hence, with the coming IPO of Reddit, the community tokens are expected to ride a bull run in March Madness.

Amidst The Reddit IPO Craze, MOON and DONUT Tokens Prep For A Bull Run!

Table of Contents

CoinPedia News

Other articles published on Mar 18, 2024

Presale Investors In Solana Memecoin Turned $250 Into $90,000+ Last Week

Altcoin Market Braces for Growth Surge as Investment Focus Shifts

AI News: Apple Quietly Unveils MM1, New ChatGPT and Gemini Killer

XRPL DEX: A Simplified Guide for XRP Holders

Ripple (XRP) & Solana (SOL) Pioneers Shift Focus to DeeStream (DST) Presale: A Streaming Platform...

Analysts Say You Can Easily Turn $100 Into $5,000 With These 3 Coins: Pepe Coin (PEPE), Retik Fin...

Join our free newsletter for daily crypto updates!