The 5ireChain Mainnet’s closed beta version went live on July 1. The team assures this is “just the beginning of a journey towards a sustainable and scalable blockchain ecosystem.” The 5IRE token price proceeded to reach an all-time high of $0.038 on July 3, followed by a quick decline. In Asian hours this morning, it had dropped to $0.03. It has made a slight recovery since, and is trading at $0.0322 at the time of writing.
Delays, rug pulls
The 5IRE token price had hit an all-time low of $0.025 on July 1, prior to the launch. Community members accused the team of purposefully delaying the launch of the Mainnet and orchestrating rug pulls and a pump-and-dump. The team had promised to launch the Mainnet in June, but that did not happen.
The team responded to the accusations on Coinmarketcap and elsewhere:
Price predictions and technicals
Moving averages suggest a strong sell, while oscillators indicate a buy. The conflicting signals mean that the overall trend is bearish. What’s more, the price has dropped below the 200-day EMA. The momentum suggests a possible short-term price rebound. It’s best to wait for clearer market signals.
Bitget is extremely bullish in the long term, predicting that the price of 5ire will reach $0.08261 by the end of 2025 and $0.1370 by the end of 2030. If this materializes, the returns would be +156.56% resp. +325.50%.
Digital Coin Price is also bullish. They forecast a maximum price of $0.0688 this year. In 2025, the 5ire token price will range from $0.0672 to $0.0808.
About 5ireChain
5ireChain’s Mainnet beta – closed version, which ultimately launched, features innovations like a 50/50 revenue share for creators of dApps. 5ire presents itself as a blockchain ecosystem that addresses global sustainability challenges. It uses both EVM and WASM to enhance functionality and interoperability.
At the heart of the ecosystem is the 5ireChain, which uses a Sustainable Proof-of-Stake consensus mechanism. The ecosystem aims to comply with the UN 2030 Agenda for Sustainable Development.
Image source: X
