As on-chain excitement springs back into the market, Nothing Token (THING) has exploded +112% overnight.
Recent weeks have seen a huge trend in explosive DEX-launched tokens, with countless moon-shots garnering significant attention, including the ever-popular APX, RAIN, MEGA, REFUND, DRS and SNOR.
For a long-time $THING has been considered a legacy coin, first launched in Spring 2023 under nefarious circumstances – from a now suspended Twitter account ‘Nothingsquer‘ – with historic tweets alleging a scam-coin after $THING launched with a 25% sell tax, and a whale-wallet containing 40% of token supply.
But now, $THING appears to be bouncing back, with a new Twitter account ‘NothingSquare_‘ breathing life back into the OG on-chain token – as withdrawals are reopened.
Nothing Token Price Analysis: How High Can This Comeback Rally Fly?
Amid the recovery price action, Nothing token is currently trading at a market price of $0.067154 (representing a 24-hour change of +112%).
This comes following a bounce out of rock-bottom price levels at $0.063396, this lower support level was established with more than a month of consolidation following the sudden -84% retracement move back on September 19.
The upside surge appears to have been driven by a rapid influx of $64k in 24-hour trading volume, across 40 buys by eagle-eyed traders.
THING price action is now battling to establish a higher support at $0.067150 – however, further upside movements from here could be tested by sell-pressure from over 1000 underwater holders.
Indeed, over the last 6-hours sell-pressure has become dominant – with sells now comprising 63% of transactions.
This suggests THING is likely to see a resounding return to lower support, however, amid heightened excitement in markets – a break high could still be on the cards.
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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.