SKALE (SKL), the zero-gas fee-enabled modular blockchain, has experienced a remarkable comeback with an impressive surge in the cryptocurrency market. Over the last 24 hours, the SKALE coin price has surged by an astounding +50%, marking a remarkable gain of +185.0% in the last 30 days. At present, the SKALE coin is valued at $0.06077, boasting a substantial market cap of $303 million.
The surge in SKALE’s value can be attributed to several factors that have contributed to its recent success.
Breakout from Rising Wedge Pattern:
One of the primary reasons behind the surge of SKALE (SKL) is the breakout from the rising wedge pattern. This significant development occurred on November 20, as the cryptocurrency’s price shattered its resistance level of $0.034. This breakout has undoubtedly played a pivotal role in propelling SKALE to new heights within the market.
Source: TradingView
Rapid Growth and Milestones:
In addition to the breakout, SKALE Network achieved a monumental milestone today by processing an impressive 200 million transactions. The rapid pace at which the network is reaching and surpassing major milestones underscores the strength of its community and the robust ecosystem of revolutionary decentralized applications (dApps).
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