Degen

The Degen price is up 19% in the past 24 hours to trade for $0.0234 as of 06:10 a.m. EST on trading volume that surged by 60%.
Besides the broader market’s current bullishness, the surge in the DEGEN price can be attributed to Farcaster’s $150 million Series A fundraising.
Farcaster is a decentralized protocol for building web3 social media apps and facilitates the creation of social apps where users enjoy control over their interactions and audience.
<h2 id="degen-price-rallies-on-farcaster-s-150-million-series-a-funding">Degen Price Rallies On Farcaster’s $150 Million Series A Funding</h2>
Advertised as blockchain’s answer to traditional social media, the Farcaster community’s token is Degen (DEGEN). The platform revealed having raised $150 million in its latest Series A funding round.
Dan Romero, the founder of Farcaster and former Coinbase executive, said in a post on X on Tuesday that the funds will “support our work on Farcaster for many years.”
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 Excited to share the news about our recent fundraise! <a href="https://t.co/KJxuPJrtqg" rel="noopener noreferrer nofollow">pic.twitter.com/KJxuPJrtqg</a>
 — Dan Romero (@dwr) <a href="https://twitter.com/dwr/status/1792948611585831302?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 21, 2024</a>
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Romero also indicated that the raise would aid Farcaster in growing its user base, highlighting that since October it had “350,000 paid sign-ups and a 50x increase in network activity.”
The fundraising was spearheaded by venture firm Paradigm, with Andreessen Horowitz, Haun, USV, Variant, and Standard Crypto also participating.
The news of the raise has sent the Degen price 19% north, on speculation that the growth in the user base would extend to demand for the DEGEN token.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Farcaster just raised $150M today backed by Paradigm and a16z, and <a href="https://twitter.com/search?q=%24DEGEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DEGEN</a> is the best beta that currently exists
 I wouldn't be surprised to see this chart go much higher over the next year <a href="https://t.co/1rN2YFxSjM" rel="noopener noreferrer nofollow">pic.twitter.com/1rN2YFxSjM</a>
 — Glenn Rothwell | Alchemy (@glennonchain) <a href="https://twitter.com/glennonchain/status/1793118813690425602?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 22, 2024</a>
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Meanwhile, <a href="https://x.com/Alvin0617/status/1793222966056251645" target="_blank" rel="noopener noreferrer nofollow">others</a> hold that the news of Farcaster’s financing has opened a new window for the Base ecosystem. Arguably, AERO, DEGEN, and FRIEND tokens are the position combination of the current large investors betting on the BASE ecology.
<h2 id="degen-price-prediction">Degen Price Prediction</h2>
The Degen price has broken above a descending parallel channel on the one-day timeframe amid an ongoing uptrend. However, it remains below resistance due to the trendline of the Fibonacci retracement indicator. This means that while the outlook is bullish, the DEGEN token is not yet out of the woods.
If bullish momentum increases, the Fibonacci retracement indicator shows that key levels to watch would be the $0.0255, $0.0340, and $0.0399. These are earmarked by the 78.6%, 61.8%, and the 50% Fibonacci retracement levels.
A move above each of the aforementioned levels is expected to draw in more bulls based on their risk levels. However, only a stable candlestick close above the 50% Fibonacci level of $0.0399 would vindicate the Degen price from the thicket. Beyond this level, DEGEN could make a steady run to reclaim its peak price of $0.0650. This level was last tested on March 31.
Buyer momentum continues to rise, as shown by the Relative Strength Index (RSI). The position of the Moving Average Convergence Divergence (MACD) above its signal line also reinforces the bullish outlook.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/05/DEGEN.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-524293 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/05/DEGEN.png" alt="Degen price" width="1366" height="768" srcset="https://insidebitcoins.com/wp-content/uploads/2024/05/DEGEN.png 1366w, https://insidebitcoins.com/wp-content/uploads/2024/05/DEGEN-300x169.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/05/DEGEN-1024x576.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/05/DEGEN-768x432.png 768w" sizes="(max-width: 1366px) 100vw, 1366px"></a>
<a href="https://www.geckoterminal.com/base/pools/0xc9034c3e7f58003e6ae0c8438e7c8f4598d5acaa" target="_blank" rel="noopener noreferrer nofollow">GeckoTerminal: DEGEN/USD 1-day chart</a>
On the other hand, a rejection from the 78.6% Fibonacci retracement level of $0.0255 instigated by early profit booking could see the Degen price pull back. A slip below the $0.0148 level would invalidate the bullish thesis.
While the Degen price exploded in the last 24 hours, other opportunities exist for those with a high-risk appetite, and one of them is the DICE presale.
99Bitcoins, a crypto YouTube channel with more than 700k subscribers, says the project has the potential to 100x on launch.
<iframe title="IS MEGADICE THE NEXT 100X CRYPTO PRESALE GEM?! GAMING + CRYPTO" width="640" height="360" src="https://www.youtube.com/embed/bxVYKtZ-vdw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="promising-alternative-to-degen">Promising Alternative To Degen</h2>
DICE powers the <a href="https://insidebitcoins.com/visit/mega-dice-presale" target="_blank" rel="noopener noreferrer nofollow">Mega Dice ecosystem</a>, a crypto casino that launched last year. Now it is launching its own token on Solana, with plans to challenge sector titan Rollbit Coin.
The casino has a massive user base of 50k registered users, and over 10k monthly active users wagering $50 million each month. This points to a vast community waiting to pick up the token once it goes live. Recent reports indicate that the Telegram community has reached 10,000 members.
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 Another milestone reached here at Mega Dice Casino 🤩
 We now have 10,000 members in the <a href="https://twitter.com/search?q=%24DICE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DICE</a> Telegram <a href="https://twitter.com/hashtag/SuperCommunity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SuperCommunity</a>. Daily chats about <a href="https://twitter.com/hashtag/DICE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DICE</a>, utilities, partnerships, assistance with technical issues and much more happening as we speak! 🚀 😎
 BUY <a href="https://twitter.com/search?q=%24DICE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DICE</a> NOW:… <a href="https://t.co/gyU59v7f87" rel="noopener noreferrer nofollow">pic.twitter.com/gyU59v7f87</a>
 — Mega Dice Casino (@megadice) <a href="https://twitter.com/megadice/status/1792920680792551468?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 21, 2024</a>
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Early presale participants also stand a chance to receive bonus $DICE tokens, incentivizing engagement with Mega Dice’s diverse offerings.
Mega Dice has also outlined plans to integrate the token into the casino’s loyalty program. This offers rewards that are more generous to gamers who use DICE tokens in their play. It will also unlock access to exclusive competitions and VIP experiences.
Additionally, the casino has a buyback and burn program that will reduce the supply. This will increase scarcity and potentially pump the value of the DICE token.
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 <a href="https://twitter.com/search?q=%24DICE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DICE</a> presale has raised $1 MILLION! 🚀🚀
 This <a href="https://twitter.com/hashtag/MillionDollarMilestone?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MillionDollarMilestone</a> brings us closer to revolutionizing GameFi. What's coming next?👇
 Next tier price: 0.075 💰
 Next presale target: $2M 💰
 We're implementing multiple tiered price increases, so make sure to secure your <a href="https://twitter.com/search?q=%24DICE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DICE</a>… <a href="https://t.co/MDfn5lVhju" rel="noopener noreferrer nofollow">pic.twitter.com/MDfn5lVhju</a>
 — Mega Dice Casino (@megadice) <a href="https://twitter.com/megadice/status/1790678140789960797?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 15, 2024</a>
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The presale continues to gather momentum with the official website showing upwards of $1.2 million already in the bag.
Right now, each DICE token costs $0.075. Investors can connect their wallets and buy DICE with SOL, ETH, or BNB.
<a href="https://insidebitcoins.com/visit/mega-dice-presale" rel="noopener noreferrer nofollow">Visit and buy DICE tokens here</a>. You can also earn a 10% commission on all referral purchases.
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/news/michael-wrubels-insights-on-mega-dice-crypto-presale-why-he-is-bullish-on-the-gamefi-token" rel="noopener noreferrer nofollow">Michael Wrubel’s Insights on Mega Dice Crypto Presale – Why He is Bullish on the GameFi Token?</a></li>
 <li><a href="https://insidebitcoins.com/news/mega-dice-presale-has-already-attracted-half-a-million-top-gamefi-crypto-on-solana" rel="noopener noreferrer nofollow">Mega Dice Presale Has Already Attracted Half a Million – Top GameFi Crypto on Solana?</a></li>
 <li><a href="https://insidebitcoins.com/news/solanas-hottest-new-gamblefi-presale-mega-dice-has-already-blasted-past-500000-in-first-week" rel="noopener noreferrer nofollow">Solana’s Hottest New GambleFi Presale Mega Dice Has Already Blasted Past $500,000 In First Week</a></li>
 <li><a href="https://www.linkedin.com/pulse/what-crypto-presale-quick-guide-getting-ground-floor-new-calsona-mwpve" rel="noopener noreferrer nofollow">What is a Crypto Presale? A Quick Guide to Getting in on the Ground Floor of New Cryptocurrencies!</a></li>
</ul>

Is It Too Late To Buy DEGEN? Degen Price Soars 19% As Farcaster Raises $150 Million And This GameFi Token Might Be The Next Crypto To Explod...

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