FINE’s Price at 7:37 am EST is $0.00000000009, with a 9.47% decline in the past 24 hours. Also, its trading volume is down 42% within the same timeframe, suggesting that trading activity has stalled amid market uncertainty and traders’ indecisiveness.
Its retracement is likely due to the controversy surrounding Fine’s authenticity.
FINE Trends on Several Platforms Leading to Early Surge Before Retracement
#FINE is a new meme project on #BNBchain coming in by the storm. 0% tax, ownership renounced and already listed on #CMC in under 24 hours since launch, 1000x potential, 300K MC, DYOR! @FineBSC https://t.co/poSkH4fVak pic.twitter.com/X5FCK598WC
— BNB Bombs (@bnbbombs) September 15, 2023
The project rose to popularity immediately after its debut and recorded over 10,600 $FINE holders, with over 58,000 transactions completed in the ecosystem.
While FINE has recorded notable gains after launch, the authenticity controversy has depressed investors’ sentiment, snatching most of the coin’s past gains.
FINE Faces Controversy On Authenticity Leading To Price Decline
Despite FINE’s early rally after its launch, it faced severe criticism from crypto community members. Notably, in the CoinMarketCap community, some users stated that the original FINE token operates on Ethereum, not the BSC Smart Chain.
Due to pessimistic sentiment from investors, FINE recorded its all-time low value of $0.00000000008 today.
FINE Faces Resistance as FUD Fuels Selling Pressure
FINE is in a sideways trend on the hourly chart as the post-launch rally begins to stall, as depicted by the faded MACD histogram bars. Although it is in the upper region of the Donchian Channel (DC), it has formed a bearish candle.
This candle confirms that selling pressure is rising for the token due to the increasing FUD. Furthermore, the Relative Strength Index (RSI) is 49. Also, dropping to enter the oversold region of 30. The token will likely record more downtrends in the coming days if it enters this region.
FINE Faces Strong Resistance at $0.000000023
FINE faces resistance at the $0.000000023 price level, forming a red candle as more sellers place short orders. It found support at $0.000000021; however, a high sell pressure continues to suppress its price. Furthermore, the trend line confirms a descending triangle pattern formed for the asset.
Based on the bearish sentiment, FINE will likely drop to the $0.000000021 support in the coming days. Nonetheless, FINE will likely rally up to 50% in the next quarter if investor confidence is restored in the project. While FINE faces market uncertainty, investor interest is shifting to the ongoing BTCBSC presales.
Bitcoin BSC Investors Enter Accumulation Phase
Breaking News! 📢
Celebration time! We’ve officially achieved the #Presale soft cap milestone, raising over $4,000,000!💰
A round of applause to the entire #CryptoCommunity for all the support!👏
— Bitcoinbsc (@Bitcoinbsctoken) September 21, 2023
Bitcoin BSC is a BNB Smart Chain-based crypto project currently running its token presale. Its presale has raised $4 million, exceeding its soft cap milestone of $3.96. Given the presale momentum, BTCBSC could reach its hard cap of $6 million in a few days.
Staking Boosts Bitcoin BSC Ecosystem Value
Furthermore, BTCBSC supports a buy and stake feature granting additional rewards to its users. According to the whitepaper, 69% of the total supply is dedicated to staking rewards.
Over 2.06 million BTCBSC tokens are currently staked in the pool at an APY of 127%. The staking prevents users from selling off their tokens after listing, thus protecting the long-term value of BTCBSC. Interested investors can log in to the BTCBSC’s presale website to secure the tokens before they sell out.
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