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Algorand Price Prediction as ALGO Pumps Up 4% in 24 Hours – Can ALGO Reach $10?

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Algorand

Algorand (RAND), the token that powers the high-performance smart-contract-enabled Algorand blockchain that has been touted as a potential “Ethereum killer”, has pumped in tandem with the broader market in the last 24 hours. According to CoinMarketCap, at current levels near $0.27 per token, RAND was last up around 4% in the last 24 hours. That takes its gains on the year to around 55%, which are comparable to the gains seen in the world’s largest cryptocurrency by market capitalization Bitcoin, which is up about 50% this year.

Algorand Chart

Price Prediction – Where Next for Algorand (RAND)?

Price predictions remain bullish for Algorand, despite the cryptocurrency having failed in recent weeks to break and hold above key resistance levels, namely the 200-Day Moving Average (last just above $0.28) and the mid-2022 lows, also in the $0.28 area. But RAND seems to be forming an expanding ascending triangle, which is typically viewed by technicians as bullish.

Algorand Chart

Should RAND break to the north of the 200DMA and key $0.28 resistance area and above its recent highs around $0.30, the door is open for a swift rally back to October 2022 highs in the $0.45 area, around 70% up versus current levels.

Can Algorand Hit $10?

A rally to $10 per token for Algorand would require 36x gains from current levels. That sounds like a lot for a coin that already has a fairly large market cap of nearly $2.0 billion, but isn’t out of the question given the cryptocurrency’s history. For example, Algorand posted 30x gains in less than two years from its 2020 lows around $0.10 to its 2021 record highs near $3.0.

At a value of $10 per token, Algorand’s market cap would be just under $70 billion (assuming token supply remains constant), a mark that multiple cryptocurrencies have reached at some point in recent history, despite the youth of the crypto market, which is barely 14 years old. If Algorand sees continual impressive growth and adoption in the coming years, it stands a decent chance of posting 36x gains and reaching a market capitalization of $70 billion.

Algorand (RAND) Alternatives

Algorand is clearly a high potential cryptocurrency project. But it is already fairly well established and, as discussed above, getting 36x gains could take many years. Investors looking to secure impressive exponential returns more quickly might want to consider the type of crypto investment with the highest potential upside – crypto presales. Here are a list of some of the Cryptonews.com team’s favorite up-and-coming crypto projects that are currently conducting token presales and could offer the prospect of good returns.

Meta Masters Guild (MEMAG) – Presale Nearly Complete

Meta Masters Guild is an up-and-coming mobile-based web3 gaming ecosystem that is developing a host of fun and addictive games. The games will utilize non-fungible tokens (NFTs), allowing community members to earn rewards, as well as stake and trade. The platform hopes to in the future host dozens of viral games. Its first game, Meta Karts Racers will be released later this year.

Meta Masters Guild is now in the final stage of its MEMAG token presale, with the presale already one of the hottest of 2023. In just a few weeks, the crypto start-up has already managed to raise a whopping nearly $4.7 million via MEMAG sales and the presale will end in a just over one day. Investors should note that they also stand a chance of winning a massive $100,000 in MEMAG tokens.

Visit Meta Masters Guild Here

Fight Out (FGHT) – Presale on Now

The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. Fight Out, which touts itself as the future of move-to-earn, wants to change that in 2023.

Fight Out is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges, and competing within a first-of-its-kind fitness metaverse. While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, Fight Out takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.

Fight Out is currently conducting a presale of the FGHT token that will power its web3 ecosystem and has already raised a whopping nearly $4.25 million. The token is scheduled to list across centralized exchanges in April at $0.033 per token. Investors should move quickly, as if they secure tokens now, they could be sat on paper gains of nearly 50% by the time the crypto token lists on exchanges at the start of Q2. Gains could be even higher if investors make use of Fight Out’s generous bonus scheme.

Visit Fight Out Now

Metropoly (METRO) – Presale Minimum Target Nearly Hit

Metropoly has an ambitious goal – to transform the real estate market by democratizing access to real estate investment. How? By building the world’s first marketplace for real estate non-fungible tokens (NFTs). And these NFTs aren’t for digital real estate in some metaverse. These tokens represent a real ownership stake in a real property, that Metropoly will also be renting out so that owners can earn a passive income.

Metropoly is currently conducting a presale to fund its ongoing development and has nearly reached its minimum goal of raising $500,000. The start-up has already released a beta version of its platform, which already looks great and is proving very popular. The barriers to traditional real estate investment around the world are huge. Metropoly hopes its platform can level the playing field, with investors able to start owning property with as little as $100.

Visit Metropoly’s Presale Here

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  This article was written for Business 2 Community by Joel Frank.
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Author: Joel Frank

Since graduating with a degree in economics in the UK in 2018, Joel has worked as a financial market/cryptocurrency analyst. Joel firmly believes that emerging crypto technology will transform the world for the better through the facilitation of decentralization. Joel has written for a variety of cryptocurrency and financial market media…

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