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The Starknet price surged 14% in the last 24 hours to trade at $2.126 as of 00:31 a.m. EST on trading volume that dropped 13% to $854 million.
The recovery came after Starkware addressed a controversy surrounding its STRK token unlock schedule that would have allowed some investors to unlock in April 1.3 billion tokens worth more than $2.6 billion.
The STRK price collapsed on the news on fears of a dump. Under the revised plan, less than one percent of tokens will unlock on April 15, compared to more than 13% under the original plan
Important update:
After listening to feedback from ecosystem friends and collaborators, we are changing the lockup schedule for StarkWare’s early contributors and investors to make it more gradual.
We value this community and want to earn its trust by building great tech that…
— StarkWare (@StarkWareLtd) February 22, 2024
The news has helped stem the STRK price implosion, but can it now reclaim its opening price of $7 recorded on Binance?
Starknet Price On An Uptrend Within The Rising Channel
Days after its launch, the Starknet price dropped to as low as $1.67, with the price movement forming a falling wedge pattern. This allowed the bulls to remain resilient within a consolidation phase.
Following the news by Starkware, the price has rallied in the last 24 hours, with the bulls retesting the $2.15 resistance.
STRK is currently trading above both the 50-day and 200-day Simple Moving Averages (SMA), which indicates that the price is on a bullish rally. Additionally, the 50-day SMA trades above the 200-day, forming a golden cross at $1.88, supporting the bullish prospects of STRK’s price.
The Relative Strength Index (RSI) is rebounding from the 50-midline level to 65, indicating investor optimism with increasing buying pressure.
The Moving Average Convergence Divergence (MACD) indicates a price rebound from the zero line, as the moving average line (blue) crosses slightly above the signal line (orange). Moreover, the red bars on the histogram further support the rebound sentiment as they diminish toward the zero line.
Additionally, the Average Directional Index (ADX) also shows that the price is on a strong bullish trend at 39 as it heads north.
Starknet Price Prediction
The current Straknet’s price shows a bullish reversal from a consolidation phase, evident from the price trading within a rising channel. As the bullish momentum sustains, the bulls are aiming at breaching the $2.15 resistance, which will allow them to breach the upper boundary of the channel, rallying the price to $2.5.
However, in an inverse scenario, if the bears take control of the price, this would drive the price on a slight retrace to $1.9, coinciding with the 50-day SMA.
Meanwhile, as the Starknet price soars, investors can also consider investing in Smog, with analysts saying it is poised to outperform Solana-based competitors like BONK, WIF, and MYRO.
Smog Airdrop Poised To Be The Greatest In History
Did you miss out on the Jupiter Airdrop, or are you uncertain about Starknet’s prospects? No need to worry, as Smog token offers you an opportunity to profit from its upcoming airdrop, dubbed ‘the greatest in history.’ The team has already allocated 35% of the total supply of 1.4 billion Smog tokens for the monumental airdrop.
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
Smog has amassed a following of over 59,000 in cross-platform communities and over 25,000 token holders. Its market capitalization has surged to $52 million, catapulting it to rank as the 17th largest meme coin.
Smog, initially launched as a Solana-based token, is enhancing its appeal to the broader cryptoverse with its debut on Ethereum through PortalBridge.
Additionally, the project has recently initiated the distribution of tokens via daily airdrops of $1,500 to various meme coins. At present, the focus is on Bonk, Dogwifhat, Myro, and Samoyedcoin.
Buy For 10% Discount, Stake For 42% Annual Rewards
There are several methods to qualify for the Smog airdrop, with one key approach being the purchase and holding of Smog tokens. By acquiring $SMOG tokens over-the-counter (OTC) directly from the Smog website, you are entitled to a 10% discount on your purchase.
You can also qualify by completing several tasks on Zealy and collecting XP points for the airdrop. There are now over 9,000 airdrop members on Zealy, completing over 400,000 tasks.
Additionally, you can earn passively through Smog’s staking protocol, where you can earn an impressive 42% annual percentage yield (APY).
According to Jacob Bury, a crypto analyst and YouTuber, Smog has the potential to surge 100X.
You can buy the SMOG token on its official website to be eligible for the historic airdrop.
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