- KIMBO crypto price has given a breakdown from the $0.000317 demand zone.
- The Kimbo cryptocurrency price is trading in a descending channel.
- The trading volume has reached $3.24 million, with an increase of 56.30% in the last 24 hours.
Kimbo (KIMBO) is a community-driven dog token on the Avalanche blockchain focused on building its subnet to grow the Kimbo exosystem. The ecosystem aims to prioritize community engagement, utility, and long-term values by launching an NFT collection called KIMBROS. The collection is crafted with Madlabz and their art director, Risa. Kimbo has announced Kimbonet, an EVM blockchain running on the Avax test network.
KIMBO Crypto has Only Left 14.75% Positive Year to date Returns
The community-driven cryptocurrency started the bullish journey from the $0.000077 demand level on January 23, 2024. The price reflected over 170% bullish rally till the end of February 2024. Afterward, a noticeable buying was spotted in the KIMBO price on March 1, 2024. That completely turned market sentiments to bullish.
The positive entry of Cruisers and crypto traders surged Kimbo crypto price by over 400% during the 16-day trading session in March 2024. However, the price faced some negative drawbacks after reaching the $0.000721 resistance level. Recently, buyers have still needed to sustain the KIMBO price above the $0.000317 demand zone.
The maximum supply of the KIMBO tokens is locked at 69.42 billion, currently circulating in the market. The total diluted valuation of this community-driven dog token is assumed to be $17.87 million, which is also the current market capitalization of the cryptocurrency. The volume-to-market capitalization ratio (VMR) reflects higher liquidity at 18.50%.
Price to Volume and Social Dominance Analysis
The social buzz of cryptocurrency has recently gained public attention on social platforms. The price and volume started a noticeable rise after February 27, 2024. This reflects that the Kimbo crypto has already gained a rise from the people before the social buzz happened. The social dominance has reached 0.06% in the crypto world.
Technical Analysis of the Kimbo (KIMBO) Price
The current price slipped below the critical exponential moving average, indicating a short-term fall. The 50-day can become a dynamic resistance unless the price rebounds back.
KIMBO price faced heavy selling from the $0.000721 resistance level. The price gave an opposing rally of almost 68% to the $0.000225 crucial demand zone. The crypto price also formed a descending channel during this opposing rally. Regarding the technicals, the price may continue falling unless it gives a closing above the $0.000531 key level.
The relative strength index (RSI) shows a long-lasting bearish momentum in the Kimbo crypto price, indicating sellers’ dominance. The RSI is moving at 35.67 below the signal line.
Summary
Kimbo Crypto price has shown enormous strength in March 2024. The Price reflected over 400% bullish rally during the 16-day timeframe. However, the current market sentiments are bending toward bearishness. At press time, KIMBO price is trading at $0.000257. The price may continue falling unless it gives a closing above the $0.000531 critical level per the technicals.
Technical Levels
- Resistance Levels: $0.000531 and $0.000721
- Support Levels: $0.000225 and $0.000136
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.