In the latest twist, Froge token (FROGE) has exploded on DEX markets after being mentioned by OpenAI President Greg Brockman on Twitter, and with traders betting this ETF token will be next – lets dig in.
Recent months have seen a huge trend in explosive DEX-traded token moves, with countless moon-shots garnering significant attention, including the ever-popular APX, SAMBO Bot, Baby Meme, TIME, ROCKY and IO.
The sensational rally for FROGE appears to have been fuelled by meme narrative sentiment, triggered after OpenAI President Greg Brockman posted a photo on X (Twitter).
spotted in the NYT today — froge is now famous: pic.twitter.com/QMM76DAGVm
— Greg Brockman (@gdb) November 23, 2023
In the image, on the back of an OpenAI employee’s laptop, there is a sticker of crypto meme Froge the Frog.
With the posted photo acting as a quasi-endorsement of the meme, DEX markets didn’t skip a beat in racing into the latest Froge moon-shot.
FROGE Price Analysis: How Long Will OpenAI FROGE Token Skyrocket Last – Doomed to Dump?
As price action attempts to sustain upside momentum, FROGE token is currently trading at a market price of $0.0000000007720 (representing a 24-hour change of +5,530%).
With price pushing up, the uptick over the past hour comes as FROGE fights to consolidate new found gains, after hammering-up out of obscurity following the Brockman tweet.
The rally was triggered at 12:00 on November 23, with an absolute flood of more than $16.2m in volume surging into the chart – in a move that saw more than 200 holders take position.
This drove an impress rally, with a strong support zone established between $0.0000000004675 and $0.000000000800, which is currently providing a supply zone to attempts at consolidation.
But with Froge token’s market cap now stood at $5m (towards the top end for most short-lived meme coin runs) it seems likely that momentum could flag from here, which can be seen reflected in the shifting transaction balance as sell pressure takes hold at 65%.
Yet, despite the sell-pressure, FROGE is showing signs of strength, with the consolidation move above the support zone proving to be a well-defended level on the chart.
And, bullish sentiment could be bolstered by the positive steps taken by the token contract developer, which has left price action protected by $771k in locked liquidity.
Overall, from here FROGE has an upside target at $0.000000001225 (a possible +60%), while downside risk could see FROGE fall to $0.000000004675 (a potential -38%).
This leaves FROGE with a risk: reward ratio of 1.56 – a good entry characterised by reasonable upside risk – despite the high risk nature of DEX trading.
But while some traders are sizing up a late stage entry into the fleeting Froge rally, smart money are flocking to early-backer status in a breakout ETF-themed crypto presale.
This FROGE Alternative Token Could Skyrocket Amid Bitcoin ETF Bullrun – Don’t Miss Out
A new Bitcoin alternative presale launched this week, offering eagle-eyed traders the opportunity to make it big on unfolding Bitcoin ETF rumors, without having to eat the $37,000 cost of becoming a wholecoiner.
Bitcoin ETF Token ($BTCETF) is currently trading at a market price of $0.0056 in funding round stage 1 with an alluring $1,548,360 raised in the opening week of the presale.
Designed and built with skyrocket potential in mind, this promising token aims to bank big on market excitement surrounding the ongoing applications for Bitcoin spot ETFs.
— BTCETF_Token (@BTCETF_Token) November 23, 2023
Aiming for a hard-cap of $5m in presale funding, the early-stage of this emerging project’s presale offers investors a unique opportunity to get in during this early entry point, which could set the stage for life-changing gains.
Ride the ETF Rally with Ease: Bitcoin ETF Token is a Critical Component in Every BTC Trader’s Toolbox
Indeed, Bitcoin ETF isn’t simply a useless meme coin, beyond taking aim at the biggest narrative in crypto – BTCETF has a major utility: Bitcoin ETF news alerts.
The token’s dApp offers traders a live-feed of the latest Bitcoin spot ETF information and news, with sophisticated technology tracking applications real-time at the SEC, and high-speed bots monitoring social media for the latest breaking ETF news.
But a simple feed of Bitcoin spot ETF news only highlights a fraction of Bitcoin ETF token’s potential, with easy-access to real-time update alerts offering sharp traders the opportunity to make market-beating returns stress-free; being amongst the first to hear about privileged Bitcoin Spot ETF news.
This could enable traders to position themselves appropriately in seismic Bitcoin market movements, making Bitcoin ETF token a critical component in every BTC trader’s tool-box this Winter.
Surging Interest in Bitcoin Alternatives Leaves $BTCETF Poised to Outperform $FROGE Token
Project tokenomics are bolstered by ambitious plans for the incorporation of staking rewards that incentivise long-term holding, alongside a burn mechanism, which will enhance $BTCETF as a ‘digital gold’ alternative, by creating a deflationary mechanism in price.
Set for stage 3 of the Bitcoin ETF project roadmap, an initial burn mechanism will be introduced amid a well-marketed DEX launch, imposing an initial 5% burn tax on transactions – this will be reduced by -1% each time a Bitcoin ETF news milestone is reached.
However, plans are afoot for a larger burn mechanism in stage 4, in a move that will see 25% of token supply burned overtime, this will be conducted in 5% burn intervals – with each supply-side reduction taking place as a Bitcoin ETF news milestone is met.
The milestones for the burn mechanism are as follows:
Milestone 1 – $BTCETF Trading Volume hits $100m – burn tax on transactions reduced from 5% to 4%, and 5% of total supply is burned.
Milestone 2 – First Bitcoin ETF is approved by SEC – burn tax on transactions is reduced from 4% to 3%, and a further 5% of total supply is burned.
Milestone 3- First Bitcoin ETF launch date – burn tax on transactions is reduced from 3% to 2%, and a further 5% of total supply is burned.
Milestone 4 – Bitcoin ETF assets under management (AUM) hits $1bn – burn tax on transactions is reduced from 2% to 1%, and a further 5% of total supply is burned.
Milestone 5 – Bitcoin price hits $100k – burn tax on transactions is reduced from 1% to 0%, and a further 5% of total supply is burned.
This will create a gradual decrease in total supply, eventually leaving around 70% of BTCETF in circulation, with the supply side reduction inducing upside price growth.
And that is without considering the potential for token value accrual driven by demand from traders for access to the ETF news dApp and the ever-present demand for Bitcoin alternatives.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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