Hooked Protocol value has been one of many best-performing cryptocurrencies in 2023. The HOOK token soared to about $3, which was the very best level since December 11. A more in-depth look reveals that the coin has greater than doubled up to now few days. So, what subsequent for the HOOK value?
Hooked Protocol is surging
Hooked Protocol has emerged from a comparatively unknown blockchain mission into one of many main gamers within the sector. It’s a blockchain mission that owns a Web3 product often known as Wild Money that has tens of millions of customers.
For starters, Wild Money is a cell software that anybody can obtain within the smartphones. It operates a quiz-to-earn platform the place folks can earn cash in type of tokens by answering questions. Because of this, by way of its mannequin, tens of millions of individuals trying to make some additional cash are utilizing the app. Its Android app has greater than 1 million downloads.
There are different methods of earning profits utilizing Wild Money. For instance, one can refer their pals or social media customers and earn rewards after they subscribe. Additionally, one can stake, swap, and switch tokens in well-liked exchanges like Binance.
Hooked Protocol has two tokens: HOOK and Hooked Gold Token (HGT). HOOK is the governance token for the ecosystem whereas HGT is the ecosystem token that’s used to reward customers of the community.
HOOK value is rising because the Wild Money app will get extra well-liked today. On the identical time, it has jumped due to the continued Concern of Lacking Out (FOMO) because the crypto trade phases a restoration. Bitcoin has already moved to a five-month excessive of $23,000 whereas the whole market cap of all cryptocurrencies jumped to over $1 trillion.
HOOK value forecast
Hooked Protocol value continued its comeback on Monday. It has been in a robust bullish development, which noticed it kind an ascending channel that’s proven in yellow. The token moved above the higher aspect of the channel on January twentieth. Hook additionally rallied above all shifting averages whereas quantity stays being at an elevated stage.
Subsequently, whereas the general development is bullish, I think that the token will retreat within the coming days. If this occurs, the subsequent key stage to observe will probably be at $2.20, which is about 20% under the present stage. On the flip aspect, a transfer above the psychological stage of $3 will invalidate the bullish view.
