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Satoshi (SATS), also known as 1000SATS, has been on the receiving end of the BRC-20 token rally over the last week, leading to its value increasing by over 50%.
This pump is due in part to Bitcoin being on the rebound. But will SATS be able to keep the momentum going and climb further up?
This article explores the price action of this token while providing information about an alternative BRC-20 token available on presale.
SATS Price History
SATS entered the market on 24 September 2023. When it was listed on Binance on 12 December 2023, it saw a pump of 186%.
Three days later, on 15th December 2023, it reached its all-time high of $0.0009373.
However, since the beginning of 2024, the price action of SATS has been bearish. At press time, the SATS price is trending around the $0.00019 level, and its market capitalization is close to $407 million.
SATS Price Analysis
Since its inception, the SATS price action has been volatile. Every time it experienced a linear decline, a parabolic increase followed.
The recent price action on the daily candle chart shows an almost 80% increase since last week.
That said, the overall price action is still below the bearish trendline.
An analysis of the Fibonacci retracement chart reveals that SATS’ current resistance is $0.0003090, and the current support is $0.0001835
To test its 2024 highs, the SATS price needs to surge by 319%.
Despite the short-term spikes and uncertainty, the token is still good for long-term holding.
Jacob Crypto Bury, who made a video about this token earlier in 2024, echoed this sentiment.
“The token’s volatility shows both bullish and bearish sides,” the YouTuber said. “While it is a good play during the long term, it is a risky project in the short term.”
What is SATS?
SATS is short for satoshis. One satoshi is equal to 0.00000001 Bitcoin. Therefore, since there are 21 million Bitcoins, there are 2.1 trillion SATS tokens. The smallest unit of the Bitcoin network, SATS tokens are useful in paying transaction fees and completing micropayments.
However, SATS hasn’t shown much utility beyond that. Furthermore, the volatile price action of this token creates a lot of uncertainty.
Therefore, a better option would be to invest in a BRC-20 token available on a presale with more upside potential, like 99Bitcoins.
99Bitcoins – New BRC-20 Token
Many analysts predict the best new BRC-20 token to invest in right now is 99Bitcoins. A project developed by a renowned crypto educator of the same name, 99Bitcoins, is here to change the way people perceive crypto education.
Due to its many unique attributes, 99Bitcoins raised more than $2.3 million during the current presale, which is still going strong.
The attributes responsible for this project’s growth include its very own decentralized crypto-education platform that offers an interactive learning approach and rewards users as they enhance their crypto knowledge.
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— 99Bitcoins (@99BitcoinsHQ) July 5, 2024
The interactive learning modules focus on quizzes and practical applications to enhance the quality of the lessons. Community engagement rewards allow users to connect with fellow learners and share their own insights about blockchain technology or the latest price action to earn rewards.
Additionally, 99Bitcoins is formulating a sub-platform that dispenses crypto signals to help investors make better decisions.
Popular crypto YouTuber Crypto Gains has shared his insight about this token and stated that he anticipates its massive growth with the platform’s arrival.
Furthermore, the 99Bitcoins community is already flourishing. The YouTube channel has over 705k subscribers, over 2.8 million learners are already taking advantage of email learning, and over 79 hours of crypto courses are available.
99Bitcoins’ Twitter channel is also being followed by the likes of CoinGecko, which Michael Wrubel has cited as one of the reasons why he is interested in this project.
Clinix Crypto, another popular crypto YouTuber, gave an honest review of 99Bitcoins, saying that this token has 5x potential despite the presale market not doing very well due to risky market circumstances.
“If a project doesn’t have a product right now, you should assume that the product sucks,” the YouTuber said.“However, 99Bitcoins has quite a bit of momentum behind its capital raise. Also, it already has a platform as well.”
To participate in this presale, investors can visit presale.99bitcoins.com.
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*Cryptonomist did not write the article or test the platform.