AKRO Rallies to $0.0181 – What Factors Are Fueling the Ascent?

On Aug 31, 2023

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The Akropolis (AKRO) token price is still on a bullish trend. The token trades above support levels, trying to find consolidation around resistance zones.

At 5:40 am EST on August 31, AKRO is trading at $0.01764, representing an increase of 1.38% in the last 24 hours. However, AKRO’s trading volume is down by 61.12%, suggesting that profit-taking investors could be roaming the market.

So far, it’s been all green for the token, and there are many speculations on what factors fuel the bullish run, even in light of the bleak crypto market.

AKRO’s Price Soars Above General Market Sentiment

Like every crypto asset in the market, the incident of August 17 affected the price trend of AKRO, pushing it to a low of $0.00858. But, AKRO soon found a slight boost to recover the next day and is now rallying towards $0.0181.

Amid the struggles faced by other ecosystems, AKRO has recorded increases of over 40.9% and 96.1% in the last 7 and 14 days, respectively.

Its price performance in 30 days is even more astonishing, with a 220.3% increase, showing that the token has been bullish since the beginning of August.

However, the asset is still 79% below its all-time high of $0.087 and may likely require more positive developments in its ecosystem to equal it.

Meanwhile. potential investors pondering what’s fueling the rally could follow through on technical analysis to understand AKRO’s short and long-term projections.

AKRO Bulls Exerting Dominance On Daily Chart

According to the chart, the price of AKRO is currently higher than the 50-Day and 200-Day Simple Moving Averages (SMA). This suggests a positive trend for the asset in the short and long term.

The Moving Average Convergence Divergence (MACD) indicator is above the signal line, with green histogram bars. This strengthens the idea that buyers are in control of the market.

Furthermore, with an RSI of 74.55, the market has reached the overbought zone, and a slight reversal could follow.

The data derived from the technical indicators imply that AKRO’s price will likely continue its upward trend, suggesting the possibility of further gains in the upcoming weeks.

Nonetheless, traders and investors should consider additional trading instruments beyond just indicators when investing. This caution is essential due to the inherent volatility and frequent price changes observed in the cryptocurrency market.

Critical Levels on Daily Chart Show More Upside

As shown on the chart, AKRO is consolidating after reaching the resistance zone of $0.02030. With the current trend, buyers are dominant and could increase the AKRO price.

However, if the buying pressure reduces, a possible trend reversal will follow, which might see AKRO price retest the $0.01231 support level.

A retest and a rebound from the support level could propel AKRO to its previous resistance range, indicating a 60% price increase.

Also, with the positive market sentiment, market observers and traders are optimistic about a bullish outlook for AKRO in the coming weeks.

Akropolis Price Rises with Notable Listings, Ongoing Integrations

With its progressive strides noted in the DeFi space, the provider of decentralized finance products, Akropolis AKRO, is now officially listed on DeFianceSwap.

The news was shared on CoinMarketCap via the official handle of DefianceApp. The listing has a community page for the AKRO members to participate in and conduct their transactions there.

Notably, the asset’s price rose slightly after yesterday’s announcement and could do more as investors’ faith increases.

The project has undoubtedly done a lot in DeFi to gain recognition, such as OpenGSN, Nexus Mutual/Opyn integration, and the launch of the POC-Polkadai bridge this August.

This bridge, developed on the Parity Substrate Blockchain, facilitates seamless self-transfers of DAI Tokens (ERC20) to sDAI (ERC20 representation).

Also, the recent introduction of an automatic DeFI yield calculator on their platforms must have played a part in sustaining the price surge in AKRP’s market.

DeFi yield on autopilot – access Yearn vaults or Liquity troves and stability pools, and more 🤓
P.S. Have a suggestion for integration? Reply in the comments! pic.twitter.com/A1Bor58WBM
— Akropolis (@akropolisio) August 22, 2023

The addition came with perks for users to access yearning vaults, liquidity troves, and stability pools, which may have been the demands of most community investors.

There’s also the possibility that the increase in their followers may have sprung after this announcement, affecting the asset’s price and creating FOMO.

AKRO’s Role in Crypto Space May Be Major Catalyst For Price Consistency

Investors in the market are familiar with Akropolis’s approach to borrowing and lending in the industry, which may be the reason for its sustainability so far.

The platform addresses the financial sector’s collateral-related credit access issue by offering under-collateralized loans, attracting credit seekers and investors interested in reshaping lending.

Additionally, Akropolis’ focus on decentralization aligns with blockchain principles, resonating with those who value transparent, secure, and autonomous systems.

The growing popularity of DeFi has also contributed to AKRO’s rise. With decentralized finance continuously challenging conventional financial systems, more investors are aiming to be part of ventures like Akropolis.

This surge in demand has naturally led to increased curiosity and investment in AKRO.

Given the trading conditions on Dexscreener in question, investors may contemplate the risks of securing AKRO’s assets. The sellers are in the market and are probably selling for profits. However, other alternatives could generate a quicker ROI in the short term.

Akropolis (AKRO’s) Alternative – Wall Street Memes

As the meme coin Wall Street Memes (WSM) prepares for its eagerly anticipated debut on multiple tier-one exchanges within 26 days. There are possible speculations of widespread increases in trading volumes and market activities.

Significantly, attention has been directed toward the staking mechanism, market prospects, and viability of Wall Street Memes. The project has adeptly positioned itself for imminent listing on major exchanges, especially with a deliberate emphasis on a high-yield staking structure.

This strategic approach highlights stability and prioritizes token staking to reduce abrupt sell-offs and potential market downturns.

The swift accumulation of staked tokens, which form a substantial part of the circulating supply, underscores the community’s enthusiasm for this reward-powered mechanism.

In the most recent staking update, the aggregate staked WSM has surged beyond 251 million, offering an anticipated annual percentage yield (APY) of 79%.

The endeavor rewards participants 75 incentives per block, while the overall WSM token supply is 1.6 billion.

Purchase Deadline Closes in as WSM Presales Ends In 26 Days

Being a notable contender in the memecoin presale arena of 2023, WSM has achieved an impressive accomplishment by amassing a staggering $25 million as initial capital.

With this strong base established, the Wall Street Memes initiative is currently embarking on its 30th and ultimate phase of presales, sparking tangible excitement within the community.

Furthermore, notable figures within the cryptocurrency realm have publicly shown their support on prominent platforms, including popular YouTube channels.

Together, these endorsements highlight the considerable potential inherent in the WSM token.

Throughout its presale phase, the Wall Street Memes token has sustained a relatively steady price trajectory, signifying stability during this journey.

During this presale phase, the WSM token is currently valued at $0.0337 per token. This pricing structure offers an enticing entry point for investors who aim to accumulate the token ahead of an anticipated significant upswing in the months ahead.

Potential investors can purchase WSM tokens through Ethereum (ETH), Tether (USDT), or traditional bank card transactions by connecting their digital wallets on the WSM token website.

Wall Street Memes – Next Big Crypto