Why Did $HIVE Wake Up?
Something surprising happened over the weekend—HIVE, which seemed to be hibernating like a bear all year, suddenly started growing like mushrooms after rain. So, what triggered it? In December, Binance Futures launched the perpetual USDⓈ-M HIVEUSDT with leverage up to 75x. That’s when the token woke up and began to rise.
But its growth cycle is strange. If you check the chart, you’ll see it "sleeps" for 2-3 days, then starts rising at night, only to drop the next day. Then, the cycle repeats. Whether it’s due to futures trading or artificial support for the token is still unclear.
About HIVE:
Hive is a decentralized information exchange network with a financial ledger built on the Delegated Proof of Stake (DPoS) protocol. Hive supports various types of applications for sharing information.
- Market Cap: $260.47M
- Token Ranking: 279
- All-Time Low: $0.0869
- All-Time High: $3.418
- Current Price: $0.5179
- 24-Hour Price Change: Down by 15.6%
Analysis:
- Short-Term: Gradual price decline, with support at $0.50.
- Mid-Term: The downward trend continues, but it may stabilize around $0.45-$0.51 in the coming days.
- Long-Term: The trend remains upward for now, but a correction is expected soon, which will provide a clearer picture.
If the token keeps its cycle of rising and falling, another upward movement might happen. However, how far it will go is uncertain. Its behavior is strange and not backed by news or official statements.
For me, HIVE is interesting but unpredictable. It’s causing a lot of buzz, but it’s unclear how to proceed with it.
Always DYOR before making trades!
