As on-chain market activity continues to drive sensational gains in crypto markets, Nothing Token ($THING) has emerged as one of the latest break-out tokens on the market with an impressive +1,000% run poising price structure for a second rally-leg.
This comes amid a wave of activity in DEX trading, empowered by the emergence of Telegram trading bots - which enable even novice retail users to trade on-chain instantly with minimal risk to MEV bots and human error.
The impact has been staggering, with tokens such as Jinbe, шайлушай (Real Smurf Cat), and Emoticon all unlocking jaw-dropping returns in recent weeks.
As the latest on-chain project to explode, $THING is 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.
Amid the potential come-back, Nothing token is currently trading at a market price of $0.051165 (representing a 24-hour change of -9.10%).
This comes in the aftermath of an impressive 10-days for $THING token, which saw a bounce from double-bottomed support structure fuel a +100% gain, pushing up from a local low of $0.067100 to current posture.
A minor -14% localised retracement move has been triggered by resistance from a convergence of the $0.051425 upper price level with the descendant lower trendline.
If $THING pushes above this level it will form a complete breakout, which could see price action turn parabolic.
The localised retracement move comes amid a reversal in buy pressure, which has now shifted to just 40% of transactions - as sell-pressure begins to take hold.
This could expose $THING priceRead more on cryptonews.com