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The Gorilla price soared 141% in the last 24 hours to trade for $0.005085 as of 5:00 a.m. EST time on trading volume that skyrocketed 1,773%.
The pumped fired GORILLA onto Gate.io exchange’s list of top five daily gainers.
🔥 https://t.co/8kWqgEeplL Top5 Daily Gainers – January 31
⭐️ Top Gainers ⭐️
1️⃣ #WEN +6296.88%
2️⃣ #DMAIL +533.7%
3️⃣ #LUS +185.23%
4️⃣ #ABT +57.94%
5️⃣ #GORILLA +45.65%Trade Here: https://t.co/Gs1d4s4Re4 #Gateio #Topgainers #CryptoGems pic.twitter.com/ROmNpMVi8r
— Gate.io (@gate_io) January 31, 2024
The surge comes on the back of hype around the Gorilla launchpad, marking the unveiling of the network’s flagship utility, the “GORILLA PAD.”
🦍🍌LAUNCHPAD UPDATE 🦍🍌
Dear GORILLAS, the moment we’ve all been eagerly anticipating is finally here—the unveiling of our flagship utility, the “GORILLA PAD,” poised to be the next “Pinksale.” Over the past 30 days, our dedicated developers have tirelessly fine-tuned,… pic.twitter.com/hUKNw9x32W
— gorillatokenio (@gorillatokenio) January 30, 2024
Gorilla Pad offers new projects a take-off point, where they can raise funds while giving investors first access to tokens. It operates as a decentralized exchange (DEX)-based platform where crypto projects are introduced and can obtain funding.
Before being publicly listed, early-stage crypto token sales are made available to the project’s crypto investors.
Gorilla Pad Value Addition To GORILLA Community Members
With Gorilla Pad going live, community members expect to benefit from a great opportunity to profit from a future price increase. This is because it enables the purchase of tokens at low prices and selling them at a profit later on. Owing to the fact that the cost of launching is low, the platform can also draw in more crypto projects for funding.
🚀 A detailed explanation of why Gorilla’s Launchpad is so revolutionary and will propel Gorilla to the top of the crypto jungle:
Take new projects to space with Gorilla Pad!
Gorilla Pad is a crypto launchpad that allows new crypto projects to raise funds while giving… pic.twitter.com/yYDotqlqOE
— gorillatokenio (@gorillatokenio) January 26, 2024
With the surge, the Gorilla price has broken out of a descending parallel channel and is currently confronting resistance due to the 23.6% Fibonacci level of $0.0055. This blockade confluences with the 50-day Simple Moving Average (SMA) at $0.0056.
The Relative Strength Index (RSI)is strongly northbound, pointing to rising momentum. This is reinforced by the Moving Average Convergence Divergence (MACD), which continues to move above its signal line (orange band). Its histogram bars are also in positive territory, just like those of the Awesome Oscillator (AO), which are soaked in green and edging towards positive territory.
Increased buying pressure above current levels could see the Gorilla price overcome the resistance due to the 50-day SMA at $0.0056, potentially extending north to test the 38.2% Fibonacci level at $0.0077.
An extended move north could send the Gorilla price to the 50% Fibonacci level at $0.0095. In a highly bullish case, GORILLA market value could test the most important Fibonacci level, 61.8% at $0.0112. Such a move would denote a 117% climb above current levels.
TradingView: GORILLA/USDT 1-day chart
Converse Case
On the other hand, if the confluence between the 50-day SMA and the 23.6% Fibonacci hold as a resistance, the Gorilla price could pull south. This could see it fall back into the confines of the bearish chart pattern, or in the dire case, lose all the ground covered by retesting the $0.0020 support floor.
Considering both the AO and the MACD are still in negative territory, this outlook is possible as it signifies the presence of bears in the GORILLA market.
Elsewhere, some investors are diversifying their portfolios via Meme Kombat, a GameFi ICO that is taking the meme coin sector by storm.
Promising Alternative To Gorilla
With some analysts listing it among the best crypto ICOs to buy in 2024, MK is the new meme coin sensation and one of analysts’ top picks for projects with potential for exponential gains. It is the native cryptocurrency for the Meme Kombat project, an innovative new gaming platform designed for gaming enthusiasts.
Ari from @cryptonews loves all the memes that are going to be taking part in Meme Kombat⚔️
Which is your favorite meme? pic.twitter.com/IxXze7bYiA
— Meme Kombat (@Meme_Kombat) January 26, 2024
The project offers community members a chance to battle their favorite meme characters in the arena. Character selection is based on the betting odds or you can simply choose your favorite character.
— Meme Kombat (@Meme_Kombat) January 25, 2024
Meme Kombat is in the presale stage, now recording over $7.793 million in sales, out of a target goal of $8 million. MK tokens are priced $0.279 each. Once you buy MK, stake them for rewards as high as 120% APY, but make sure to take advantage of first mover advantage as these rates reduce with time.
So far, 80% of the entire MK token bucket has already been staked, with up to 10,850 stakers as of publishing time. More stakers are coming in so do not be left out.
Visit Meme Kombat website to buy MK and stake your holdings here.
Also Read:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY
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