Wormhole (W), a cross-chain communication protocol, has seen its native token experience a 9.43% price increase in the last 24 hours. The token is currently trading at $0.6794, with a 24-hour low of $0.617 and a high of $0.7157.
Staking Goes Live, Attracting Investor Interest
One of the primary factors contributing to Wormhole’s price surge is the introduction of $W staking for governance. According to a tweet by the Airdrop Adventure X page, users who stake their $W tokens now may potentially qualify for future Wormhole airdrops, which have already been confirmed by the project. Additionally, staking $W could also make users eligible for the highly anticipated Monad airdrop.
The launch of staking has generated interest among investors, as it not only provides an opportunity to earn rewards but also positions token holders for potential future airdrops.
New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less – Technical Analysis Suggests Further Upside Potential
Several prominent analysts have shared their bullish outlook on Wormhole’s price action. Glitch, a well-known analyst, has noted that $W has broken out above range highs, suggesting that the $0.90 level is the next target.
Michaël van de Poppe, another respected analyst, has emphasized the importance of the $0.60 level for Wormhole. As long as the token maintains its position above this crucial support, van de Poppe believes that $W should remain in a stable position.
Read more: FLOKI Meme Coin Price Surge Not Over Despite 10% Decline from All-Time High: Here’s Why
Waltzcson, an analyst focusing on the daily chart, is hoping for a valid CHoCH (Cup Handle on Cup Handle) pattern to form in the next few hours or days. If this bullish pattern materializes, Waltzcson expects Wormhole to quickly reach the $0.850 level.
However, the analyst also notes that $W is currently facing resistance and that the market’s reaction to this level will be critical in determining the token’s short-term trajectory.
Join Aethir’s exclusive airdrop and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Why is Wormhole Token Price Pumping? W Price Prediction appeared first on CaptainAltcoin.