- IoTeX crypto price has jumped sharply in the past few days because of FOMO.
- Other coins like Milady Meme Coin and Stacks (STX) have also surged.
- This price action is mostly because of the strong Bitcoin price performance.
The ongoing Bitcoin price rally has led to major moves among altcoins as investors embrace the Fear of Missing Out (FOMO). A closer look shows that most cryptocurrencies have jumped by double-digits, outperforming key assets like stocks and commodities. So, what is going on with IoTeX, Milady Meme Coin, and Stacks (STX)?
IoTeX price analysis
IoTex is a company that aims to integrate the concepts of blockchain and physical devices. It aims to do this using a technology known as Internet of Things (IoT). According to its website, IoTeX has connected over 375k devices globally, with over 8,700 joining in the past 24 hours. It is also available in over 156 countries.
IoTeX price has gone vertical in the past two days, making it one of the fastest-growing tokens in the market. It surged by over 52% on Monday and has now soared by over 20% in the past 24 hours. IoTeX has now risen above the key resistance point at $0.042, the highest swing on August 15th.
It has also moved above the 50-day and 100-day Exponential Moving Averages (EMA). Its daily volume has also risen while open interest in the futures market has jumped to a record high. This growth happened even as IoTeX made no major news, meaning that it could be getting pumped by traders.
IoTeX price is also likely rallying because of the recent surge of IOTA, which became the first network to be registered by Abu Dhabi regulators. In the past, IOTA and IoTeX usually moved in the same direction even though they are significantly different platforms.
Looking ahead, the price of IoTeX will likely continue rising as buyers embrace FOMO. If this happens, the token will hit the psychological level at $0.0600.
Milady Meme Coin analysis
Meme coins have done relatively well during the ongoing crypto surge as investors embraced FOMO. In most cases, meme tokens outperform bigger coins in a bull run because of their substantially cheaper prices. Moving a smaller coin like Milady (LADYS) is simpler than moving bigger coins like Bitcoin and Ripple.
A look at LADYS volume flows shows that it has jumped sharply. It rose to over $15.2 million on Tuesday, up from $2 million on the previous day. This is a sign that more people are buying the token as they prepare for the next bull run.
The daily chart shows that the Milady Meme Coin price has jumped to $0.000000040, its highest point since November 2nd. It is also nearing the crucial resistance point at $0.00000047, the highest swing on October 28th and in August. Therefore, the outlook for the token is bullish, with the next level to watch being at $0.0000000063, the highest swing in June.
Stacks (STX) price analysis
Stacks has been one of the top beneficiaries of the Bitcoin price surge. This is to be expected since the platform’s goal is to create a smart contract layer for Bitcoin. The token has risen in the past five straight days and is now at the highest point since March 2023. It has surged by more than 200% from its lowest point in September.
Stacks price has jumped above all moving averages while oscillators like the Relative Strength Index (RSI) and Stochastic have jumped. This is a sign that the coin has the bullish momentum. Therefore, the outlook for the STX token is bullish, with the next point to watch being at $1.3142, the highest swing in March.
