StarGate Finance Price Pumps 68% On Upbit Listing News As Traders Rush To Buy This Dogecoin Derivative Before Time Runs Out
Release: 2024/05/31 00:29 Reading: 264
StarGate Finance Surges 68% on Upbit Listing
The StarGate Finance (STG) price soared by 68% within the last 24 hours, trading at $0.8506 as of 7:10 a.m. EST. This surge comes amidst a 4,806% increase in trading volume to $739 million.
Upbit Listing Announcement
The surge was ignited by the announcement that Upbit, South Korea's largest crypto exchange, will list STG. Upbit clarified that STG deposits must be made through the Ethereum network and warned users against transfers from other blockchains. Trading for STG will be available in South Korean Won (KRW).
Bullish Momentum and Technical Indicators
The STG price has formed a sharp engulfing candle, driving it to its previous resistance level of $0.8841. This movement was supported by strong support established at $0.4531, preventing a further decline.
The 50-day and 200-day simple moving averages remain below the current price, providing support. The Relative Strength Index (RSI) has climbed from 50 to 75, indicating strong buying pressure. The MACD is approaching the neutral level in a bullish manner, further supporting the positive momentum.
Potential Resistance and Support
If the bullish trend continues, STG bulls could breach the $0.8841 resistance, potentially reaching a new high of $1.45. However, resistance at $0.8841 could lead to a double-top pattern, potentially triggering a bearish reversal. In such a scenario, $0.6663 would provide support.
Additional Information
For those interested in purchasing STG tokens, Upbit will allow trading in South Korean Won (KRW). The Dogeverse platform offers an attractive native staking program with a 44% annual yield, but only ETH purchases are currently eligible for staking.
Crypto YouTuber Jacob Bury predicts that Dogeverse could surge 100X upon launch. Its presale has already raised over $15 million and ends on June 3rd at 10 a.m. UTC, with the claim process starting on June 5th at 10 a.m. UTC.
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