Rollbit Price Prediction as RLB Slides 5% in 24 Hours – Will Whales Buy the Dip?

cryptonews.com:

Rollbit Coin (RLB), crypto gambling and trading platform Rollbit’s native staking and lottery token, is succumbing to sell pressure this Friday as the broader crypto market slides.

RLB was last trading just below $0.145, down around 8% from earlier weekly highs around $0.157, having found resistance at its 21DMA at $0.161 earlier in the week.

The token’s latest drop has seen it slip back below its 50DMA, which was last at $0.147.

Rollbit Coin holders can stake their tokens to enter Rollbit’s lottery, where RLB stakers can win a portion of the platform’s profits.

Prizes are distributed every 100 Bitcoin blocks (roughly 16 hours) and amount to 20% of Rollbit’s profits.

Rollbit runs highly profitable online Casino, sports betting and futures trading platforms and is one of the market’s leading bitcoin casinos.

As per a dashboard on Rollbit’s website, the Casino generated around $25.7 million in the past 30 days, while the futures trading and sports betting platforms generated around $8.2 million and $5.9 million over the same time period.

While RLB is currently down more than 30% from the record highs it hit in August above $0.21 per token, it remains up an impressive 300% since the start of July.

Thanks to the crypto token’s compelling tokenomics, RLB price predictions remain largely bullish and whales are likely to see dips – like the current one – as opportunities to add to their long positions.

Rollbit introduced a new Rollbit Coin (RLB) burn mechanism back in early August that sent the cryptocurrency shooting higher, and which continues to offer tailwinds to the cryptocurrency.

Rollbit is now dedicating 10% of Casino revenue, 30% of future trading revenue and 20% of sports book revenue to RLB token buybacks, with these tokens to