Recently, a new cryptocurrency has attracted attention by leaving the giants of the sector behind. Virtuals Protocol’s VIRTUAL altcoin gained 20 percent in value in just 24 hours and recorded a massive 639 percent increase in a month. With this performance, it gained more value than XRP, DOGE and other major cryptocurrencies. Here are all the details…$DOGE
Virtuals Protocol has become one of the top-performing coins among the top 100 crypto assets, with its market cap rising from $0 to over $2.5 billion. The platform, which aims to build the future of virtual interactions by integrating AI with the metaverse, has seen a major surge over the last quarter. However, despite this massive increase, the VIRTUAL price is still on the rise, according to analyst Sahana Vibhute, as it enters a period of consolidation following a significant rally in other cryptocurrencies.
Vibhute states that the tenfold increase in trading volume and the huge increase in market value are critical. However, he emphasizes that there may be some concerns about stability in the coming period after this rapid increase. Virtuals Protocol points to the possibility of continuing the rise by the end of the year, with its trading volume exceeding $300 million after being listed on major exchanges.
According to Vibhute, the question that needs to be asked is: will Virtuals Protocol be the best performing token of 2024, outperforming major tokens in the crypto markets by over 8000%?
The chart shared by the analyst shows that the VIRTUAL price has seen a major rally from levels below $0.05 to highs above $2.7. The token has shown continued strength during the exploration phase, but is currently facing some selling pressure. Previously trading at the 0.5 FIB and 0.78 FIB levels, the token could continue to trade between the 0.786 FIB and 1 FIB before reaching the $3.4 level by the end of the year, according to the analyst.
Virtuals Protocol is expected to have a market cap of over $3.3 billion, and the token is expected to be among the top 50 cryptos. However, the markets have witnessed a series of declines and rug-pull cases recently. The analyst notes that such large increases usually lead to concerns about stability. However, the year-end closing levels are expected to have a major impact on the token’s future price movements. Therefore, it is emphasized that market participants should be careful about the next price movement.