After a massive token burn that reduced its circulating supply from 300 million to just 21 million, OKB has booked a 100% gain in the past 7 days and the latest price action favors a bullish OKB price prediction as the token just surpassed the $200 mark.
It has been a wild ride for OKB investors as this exchange token went up from $46 to $105 in just a day after X Layer announced the burn.
The move is part of an ongoing migration off the Ethereum mainnet that resulted in X Layer’s relaunch as a standalone blockchain powered by the OKB token.
The price retreated a bit to around $90 and then exploded just a few days after to its current high of $205. OKB was primarily bought by users of the OKX crypto exchange to get discounts on trading fees.
Those who held on to the token during this rally have already booked a 350% gain.
OKB Price Prediction: OKB Volumes Explode But RSI Flashes Warning Signal
Trading volumes for OKB have exploded by 394% in the past 24 hours alone with $1.3 billion worth of the token exchanging hands during that brief period. This figure accounts for 30% of the asset’s circulating supply.
It seems highly likely that OKB will hit $220 today once the American session opens.
The daily chart shows the strong vertical ascent that OKB has experienced since the burn. There are a couple of support areas to watch in case of a retreat at this point. These levels could provide attractive entries for late buyers.
The $123 is perhaps the most relevant from a technical standpoint as the project’s market cap would sit at its pre-burn level if it hits that mark. However, that would require a highly unlikely 40% drop from OKB’s current price level.
The Relative Strength Index (RSI) favors an imminent pullback as it has entered extreme overbought levels. Even though OKB may not hit $123, any meaningful retreat could be considered a buying opportunity as the baseline OKB price prediction is still bullish.
As exchange tokens are hit with a wave of positive momentum, the odds of a 10X move have increased for the best crypto presales in this sector like Best Wallet (BEST).
Best Wallet (BEST) Hits $15M Raised as It Prepares to Wrap Up Its Successful Presale
Best Wallet (BEST) is an innovative crypto wallet that supports assets in 60 different blockchains and offers low swap fees.
The project has launched a highly user-friendly mobile app for iOS and Android devices that has already received positive ratings by early adopters.
The $BEST token will power the Best Wallet ecosystem and will be used to get fee discounts and early access to new features. Once the wallet gains popularity, the demand for this utility token will skyrocket.
In addition, through the Upcoming Tokens tool, users can get access to the best crypto presales in the market. As part of its ambitious roadmap, the developing team will soon launch a decentralized exchange and a debit card that will allow users to pay for their day-to-day expenses with crypto.
To buy $BEST before the presale ends, head to the Best Wallet website and connect your wallet. If you don’t have one, simply download the app here. You can either swap USDT or ETH for this token or use a bank card to make your purchase.
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