Top Crypto Gainers on 11 March – FLOKI, THETA, and NEAR
The new week has commenced, and several assets have resumed their uptrend, even with new records in the market. Surprisingly, some assets overlooked by investors are now grabbing attention thanks to their dramatic short-term gains, especially today.
While over 100 virtual currencies have increased in the last 24 hours, we've handpicked some top crypto gainers: FLOKI, THETA, NEAR, and SMOG.
A key variable behind the gains of these assets is the bullish nature of the broad crypto market and Bitcoin's surge in the long run.
According to CoinMarketCap, the overall market cap value is at $2.71 trillion, up by 2.73%. Also, Bitcoin has reached over $72K with a daily 3.18% increase.
Given the persistent positivity hovering across the crypto market, many investors are optimistic about the performance of the assets within this sector. So, trading activities have increased, driving price gains for the assets.
While these are notable price-growth drivers, let's explore these top gainers to discover relatable variables behind their gains today.
FLOKI (FLOKI) - Utility-Infused Meme Coin with Aims to Create a Decentralized and Autonomous Ecosystem
A handle on the X platform revealed FLOKI as one of the high-ranking tokens among the top 50 assets by market cap. Also, its value has surged 10x in roughly 30 days.
The handle @huntgemsdaily further explained that the token will likely keep increasing in value over time because its uptrend season is just beginning.
@RealFlokiInu $FLOKI officially enters the top 50 Tokens by Market Cap
Along with that, the price of $FLOKI has increased 10x in less than 30 days recently
Congratulations to the #FLOKI team and community, a well-deserved achievement for their relentless hard work
pic.twitter.com/ejUlKhn071
- Crypto Gems Daily (@huntgemsdaily) March 11, 2024
Following this update, excitement has increased around FLOKI, with many investors and traders anticipating massive returns on investment over time. Additionally, FLOKI's Staking Launchpad v2.0 is live now.
Here, users can manage their portfolio, earn staking rewards, and even participate in Alpha Quests," among other activities.
Interestingly, users who sign up within the next 48 hours can receive a 3.5x APR multiplier bonus on their staking. With this Launchpad introduction and the massive market cap pump, FLOKI may easily reach new price levels thanks to increased trading activities. Now, the token is at $0.0002754, up by 22.59%.
Its market cap and 24H trading volume also surged by over $2.6 billion and over $2.2 billion, respectively. As investors and traders continue to perceive FLOKI as a revolutionary project following its developments despite being a meme coin, its worth could spike, reaching $1 in the future.
FLOKI Enjoys Bullish Market Expansion - When Could the Retracement Commence?
In the chart above, the consolidation phase of FLOKI has concluded following a market expansion to the upside. Its Relative Strength Index (RSI) is above the overbought zone (above 70), trailing at 89.70. This confirms the increased buying pressure pushing the coin's price up.
As a result, its price has reached a new high despite fluctuations. Today, it's trading at $0.00028, a few pips from the $0.0003 level. Given the bullish trend hovering across its market, FLOKI could reach $0.0003 and potentially approach the $0.00035 level in the coming days.
While the other sentiment for the token is bullish in the short term, traders and investors should stay alert as a retracement could occur.The RSI at the overbought zone hints at potential price correction.
As such, traders should implement risk management strategies like setting stop-loss and taking profit levels to make the most out of their trading decisions.
Theta Network (THETA) - Layer 1 Blockchain and Decentralized Network for AI and Entertainment Purposes
One notable factor driving the bull run of the overall crypto market is the increasing inflow of Bitcoin ETF.According to records, BlackRock's BTC ETF is close to 200,000 BTC, and thus, several altcoins like THETA have commenced a trend reversal from downtrends to the upside.
Again, AI tokens are steadily rising as many organizations are delving into the sector recently. The overall surge of AI tokens could also be one of the factors making THETA gain today.
This is because its network is also used for AI purposes, which could be considered the token's price-growth factor.
Besides these, the network has released EN v4.5.3, a node update that facilitates seamless running of the GUI Edge Node on Mac or Windows Operating System.
According to the project's team, this updated version comprises improved node statistics collection and real-time active node count.
Also, there would be bug fixes to cut off the Lavita jobs alert from most users. Moreover, users on the Linux operating system would now be part of the official EN count, the 10,000+ active node count.
As a result, the number of active node counts would spike massively as Linux users are included now.
Following this update, the project's community is excited, so their trading activities and other ecosystem-related participation have improved. Now, the network's coin, THETA, is up by 28% to $3.77, and its trading volume in the last 24 hours is at $400+ million, up by 320.58%.
THETA Goes Bullish with RSI Above 70 - Can The Bulls Maintain Their Momentum?
The chart above reveals THETA's historical price actions via candlestick patterns. As such, the coin has broken out of consolidation, with its price expanding to the upside toward $4.
Simply put, the overall market in the daily chart is bullish as the coin tradesabove the 50-day and 200-day Simple Moving Averages, which serve as dynamic support levels.
Again, its RSI is above 70, and the overbought market zone is 93.46, showing increased buying pressure. Affirmatively, the coin has formed more than seven consecutive green candles, indicating a weekly price rally streak.With these signals combined, THETA's price is expected to touch $4 and beyond in the coming days.
Nevertheless, traders and investors must have their ideal risk management strategies as the overbought market condition suggests a potential dip.
Near (NEAR) - The Cross-Chain Ecosystem for Developers
NEAR has posted impressive figures in the past 24 hours, gaining 18%. It trades at $7.07 today and has rallied 54.1% in the last seven days.Near Protocol recorded almost 100 million accounts created since the mainnet launch on March 4.
Although it is still below its all-time high value, the current bull run favors a retest of a similar price level. Also, the upcoming Quadratic Funding launch in the Near ecosystem will likely support its price gains.
Notably, the NEAR Foundation has committed over $100,000 to fund most public goods on NEAR.
Quadratic funding is NOT a complex mathematical sum.
It's simple. Do public goods work in the NEAR ecosystem? Receive funding.
The NEAR Foundation has committed $100k+ to @potlock_ for funding the most
public goods on NEAR.
Donations on steriods:https://t.co/CVDTcvSX0U pic.twitter.com/QHYVCaKmSQ
- NEAR Protocol (@NEARProtocol) March 8, 2024
This funding aims to promote decentralization and transparency in the Near ecosystem. This will ensure fair distribution of funding in the Near ecosystem. These funds will be provided by individuals, companies, and partners in the ecosystem, which is the new on-chain method of providing secure funding.
Also, quadratic voting is one of the innovations that will be included in the Near ecosystem to ensure a transparent voting process. So, NEAR's gains are evident on the daily chart, with today's candle confirming a recovery for the asset.
NEAR Approaching $7.43, Will It Rally to $10 Soon?
NEAR is in an uptrend on the daily chart after finding strong support at $5.65. Today's large green candle confirms buyers' dominance and the determination to rally above $7.43.
A closer look at the daily chart reveals that the candles are increasing in size, suggesting an increase in trading volume for NEAR.
Also, the MACD indicator is above its signal line, confirming a strong BUY sentiment among traders today. In addition, the green Histogram bar today affirms that the buying pressure is rising and will likely force a rally above $7.43 in the coming days.
Meanwhile, the Stochastic Oscillator is in the overbought region with a value of 92.82 and is still rising as the buyers accumulate.Based on the positive signals, NEAR will likely break above $7.43 and rally to $10 since the buyers still maintain dominance.
Smog Token (SMOG) - The Fiery Airdrop for Awesome Rewards
SMOG is an ongoing revolution on the Solana network that embodies the fighting spirit of the Dragon.Its goal is to become the most extensive ecosystem for rewards on Solana, and so far, Smog Token has lived up to the hype. Users can buy and stake SMOG tokens to earn additional rewards at an APY of 42%.
Also, there is a 10% discount for users purchase SMOG tokens during this period.
Smog Hits 75,000 HoldersSmog dazzles the crypto community, racing to 75,000 holders less than two months after its launch. This feat alone is a testament to SMOG's strong crypto community support. The airdrops are ongoing with users who complete tasks on Zealy.io and hold some tokens often considered for rewards.
As of today, March 11, over 1 million airdrop quests for SMOG tokens have been completed, and prizes are shared regularly among crypto community members.
One vital point supporting SMOG's price gains is its limited supply of 1.4 billion tokens, which is quite conservative compared to other meme coins that have a token supply of trillions.
The staking and supply, alongside the current favorable market trend, will likely help SMOG to achieve more excellent records in the coming weeks. Notably, SMOG continues to reset its all-time high value with frequency, confirming that more buyers are joining the trend.
Big Update for Community MembersSmog Token Developers announced an upcoming Space on X for March 15 at 2 PM UTC.
This Smog Token space will feature notable figures in the crypto industry and aims to celebrate the milestone of completing 1 million airdrop quests.Additionally, there will be a $1000 $MOG prize pool for ten lucky winners to share during this event.
Smog developers promise users there will be insightful discussions, updates, and opportunities to win on March 15. These developments confirm that SMOG is progressing rapidly. However, investors must do proper research before investing.
Final ThoughtsThe crypto market is bullish as Bitcoin sets a new all-time high of $72,211. While it might be too late to join the Bitcoin rally due to the high price, the altcoin season has begun with our top gainers outperforming Bitcoin on the 24-hour chart.
Nevertheless, while it is tempting to jump on the trend, investors must remain wary of price volatility and create a proper trading strategy, such as a trailing stop-loss, before leaping.
The post Top Crypto Gainers on 11 March - FLOKI, THETA, and NEAR appeared first on The Tech Report.