Beercoin price has accomplished effectively up to now few days. The $BEER token soared to a report excessive of $0.0003495, a lot larger than its all-time low of $0.000080. This surge has introduced its complete market cap to over $300 million, based on CoinGecko and CoinMarketCap.
What’s Beercoin?
Beercoin is a newly launched meme coin on the Solana ecosystem. It just lately went via a token sale the place it raised 30,000 SOL tokens, now valued at over $5 million.
Beercoin’s purpose is to turn into one of many greatest meme cash within the trade. It goals to copy and go the efficiency of different Solana meme cash like Dogwifhat (WIF), Bonk, E book of Meme (BOME), Cat in a Canine World (MEW), and Popcat.
These tokens have turn into main components within the crypto trade and have a very good report of doing higher than larger cash like Ethereum and Polkadot. They’ve additionally turn into extremely in style among the many buying and selling neighborhood for his or her potential to remodel customers into millionaires.
Dogwifhat’s market cap has jumped to over $3.5 billion whereas Bonk, E book of Meme, and Cat in a Canine World (MEW) have amassed over $2.3 billion, $932 million, and $374 million in valuation.
Beercoin describes itself as liquid gold and has quite a few perks to its holders. For instance, it has pledged to award a fortunate winner a Tesla CyberTruck, a VIP ticket to Oktoberfest, 10 shares in Heineken, one of many main beer producers on the earth, and a ten-year beer provide.
Nevertheless, as an unregulated asset with minimal disclosures, it’s not clear whether or not these builders will observe via on these guarantees. That’s as a result of its builders will not be recognized and it could be not possible to sue them.
Altogether, there’s a risk that the Beercoin token would be the subsequent massive meme coin within the trade, particularly if the bull run continues as Mike Novogratz has predicted. On-chain information exhibits that the token has already attracted virtually 30,000 holders.
Beercoin price forecast
The 30-minute chart exhibits that the BEER token price has surged up to now few days. It has moved above the 25-period shifting common. Most significantly, the token has fashioned a bullish pennant sample, a well-liked bullish signal. Its every day buying and selling quantity has additionally rebounded.
Due to this fact, the $BEER token price will doubtless have a bullish breakout as consumers goal the important thing resistance level at $0.0040. This price motion may occur as Beercoin receives extra alternate listings, particularly massive names like Binance and OKX.