With the Bitcoin price losing its bullish trail, the impact is also visible in the rest of the cryptos, including X Empire, whose price has dropped 11% in the last 24 hours. The X token has barely managed to rise from its weeks-long downtrend with disappointed holders. However, with the recent drop, it is concerning that the token might lose its value in the market, as many altcoins are maintaining their gains.
More importantly, it is much behind in the investor’s timeline. It is because, considering its pre-listing popularity, many analysts forecasted an X price rally to $0.1. However, it is only worth $0.0002657, making many question whether it has run out of bulls.
Analyzing the X Empire Price Performance
The token had a listing price of $0.00009599 but has grown to $0.0002657, which is significantly high. However, considering the pre-listing demand for the X Empire token, it is disappointing, especially in the ongoing market conditions, where bulls are in dominance. Regardless, the token has also had its share of rallies, where it surged to an ATH of $0.00058 just five days ago. However, that lasted short, and the X price dropped immediately, following another consolidation until yesterday, as the price surged again.
Yesterday, Binance launched the 1000XUSDT, a futures contract, boosting its price. At the same time, Binance listed HIPPO, whose price also boomed moments after the announcement. Overall, over the week, the token has gained 137%, which is quite high. However, today’s 11% drop is concerning as many fear a long downtrend with the bulls losing the battle.
$X on Binance Perpetual
Opening: 12:30 UTC https://t.co/qXUCfHVbRv
— X Empire (@xempiregame) November 13, 2024
Meanwhile, its biggest competitor, Hamster Kombat, is also stuck in another consolidation phase despite the HMSTR prices’s 50% surge over the week. With that, it is now 60% away from ATH, whereas X is 54% away, which possibly indicates the limited trends for these tap-to-earn games.
Is X Empire Running Out of Bulls?
It has not been long since X price has been to its lowest of $0.00003315, but even with that, it has surged +706.67%. Moreover, its two rallies within a week clear that the bulls are still active for this memecoin, where today’s drop might be a part of the temporary consolidation. Moreover, there is strong buying pressure on the token, with RSI at neutral and the remaining technical factors indicating buying dominance.
However, the momentum and the hull moving average indicate the seller’s presence, causing the ongoing X Empire price consolidation. More importantly, if the next candle formed past 0.00027341, an uptrend might be likely to happen.
$X Update:
Nothing new to add to the $X chart—plan remains the same. $X is currently consolidating around the support zone, and the $X Empire seems quite strong here. Despite $BTC’s recent shakiness, $X is holding nicely. We might see another pump soon, though that’s just my… pic.twitter.com/wFauMjWFmc
— Alpha Crypto Signal (@alphacryptosign) November 14, 2024
Even crypto analysts confirmed the ongoing consolidation. One claimed that despite the BTC’s recent drop, X Empire is holding strong. More importantly, he has predicted a breakout where the X price could surge higher.
The post Is X Empire Running Out of Bulls? X Price Dropped 11% Today appeared first on CoinGape.