- The price of the BEN crypto has lost its value by more than 77% from its all-time high.
- The BEN crypto uses ERC20 token standards and is built on the Ethereum platform.
Ben (BEN) is an Ethereum-based meme coin launched in May 2023 by ben.eth, emphasizing decentralized governance. It aims to educate, advocate for adoption, ensure transparent media coverage, and represent regulatory interests in the crypto space. Despite support from influencers like BitBoy Crypto, legal challenges and controversies have affected its reputation.
The market cap of the Ben crypto price is trading flat and has a market cap of $778.68M. It has resulted in a market cap ranking of #3101. Also, the trading volume of the crypto has declined by 56.58% over the last 24 hours.
Also, the crypto’s volume/market cap ratio is 0.04%. The crypto’s fear and greed index indicates extreme greed and is at 81, as per Coincodex. The crypto’s sentiment is also bearish, and its market cap dominance is very low.
The circulating supply of crypto has not been disclosed, and it is not trading on any big exchange. It also does not trade with fiat currencies, a negative point for crypto.
Ben Token Supply Overview
The total supply of the crypto is 420.69T BEN, whereas the self-reporting circulating supply of the crypto is also the same, following which the fully diluted crypto’s market cap is $851.54M.
BEN Crypto Technical Analysis
The BEN coin price is traded at certain lows, followed by a declining wedge pattern on the daily chart. The cryptocurrency’s price seems to be trading in a very small range and witnessing a huge decline in volume.
The price of crypto has been forming solid bearish candles on the chart, indicating the dominance of sellers in the market. Thus, the crypto price currently does not indicate any signs of probability of advance in the price.
One must wait for the BEN token price to break above the falling wedge pattern for further advance in the token price.
BEN/USDT Chart by TradingView
The majority of the indicators trading on the Ben crypto’s daily chart indicate bearishness in the trading price.
The token’s price has declined below the 50-day and the 200-day EMA, followed by a death cross of the EMAs. The price is acting volatile, and it is revolving around the 20-day and 50-day EMAs.
The MACD indicates strength in the crypto price as the signal and the MACD line are trading above the zero level. The histograms are bullish on the daily chart, and the lines are trading in a bullish on the indicator.
The RSI is volatile, and the 14-day SMA and the RSI have crossed above the 50-level. The following behavior of the indicator represents strength and volatility in the price. Despite this, the RSI has witnessed a sudden decline from the overbought zone.
If the RSI fails to sustain above the 50 level, the crypto’s price might lead to further lows.
Summary
The BEN crypto, built on Ethereum’s ERC20 standards, faces challenges despite influencer support. With a 77% drop from its peak, BEN struggles with low trading volume, lack of fiat trading, and undisclosed circulating supply. Technical analysis suggests bearish trends with potential for further declines unless the RSI sustains above 50.
Technical Levels:
- Support levels: $0.00000000050 and $0.00000000150
- Resistance levels: $0.00000008490 and $0.00000011780
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.