SEI Hits 2023 Low – Is a Correction Due Quickly? - SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse news and more

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SEI recorded a exceptional surge of over 300% in mid-August following its itemizing on the Binance trade.

Nonetheless, its current worth efficiency suggests the bears have suppressed the rally because the coin has declined over 7% within the final 24 hours, buying and selling at $0.1391 at 08:43 AM EST.

The downturn has snatched most of SEI’s previous positive aspects, pushing it over 69% down from its all-time excessive worth of $0.455, recorded on August 16, in line with Coingecko knowledge.

These unfavorable worth strikes obscure the token’s status amongst traders, casting doubts about its longevity and future worth trajectory.

Investor’s Sentiments in Impact As SEI’s Value Stumbles

Notably, since SEI’s launch on exchanges, its worth momentum has dwindled, falling to $0.17 after the fast surge to even $0.14 yesterday, opposite to traders’ expectations. Additionally, the token has declined by over 10% within the final seven days.

Nonetheless, regardless of the notable worth decline, SEI nonetheless holds over 1623% 30-day positive aspects, in line with CoinMarketCap knowledge.

Collaborations May Be SEI’s Escape Route from Bearish Traces

Nonetheless, the asset’s fall at present is imagined to be non permanent and may very well be attributed to the bearish sentiment within the broader crypto neighborhood. SEI’s buying and selling quantity has been dropping steadily for days now and even recorded a 34% lower on August 24, suggesting a decline in buying and selling exercise within the SEI market.

Amid the rising promote strain, some neighborhood members imagine the asset follows the same sample to different newly listed currencies and that any potential ROI can be in long-term positions.

In assist of those speculations, SEI is establishing famend collaborations. In addition to the trade listings, SEI has larger plans in progress.

First, the Binance $10,000 giveaway is claimable by traders who stake BNB, $TUSD, or $FDUSD within the $SEI launch pool. Additionally, the SEI raffle at present ongoing on CoinGecko is a partnership to ask extra traders to the mission and reward the neighborhood for the hype.

Need to win your share of $10,000 in $SEI?

Here is how ? https://t.co/ANpnAVPJJz

— Binance (@binance) August 24, 2023

BSC Information additional drew the eye of potential traders to SEI, exhibiting their speedy transactions and excessive success charges. In line with the tweet, the community could even outshine giants like Ethereum and Solana.

? @SeiNetwork is redefining the digital asset house with lightning speeds and a excessive transaction success fee! Maybe outshining giants like Ethereum and Solana! #SEI #SeiNetwork #Ethereum

Dive into the complete story: https://t.co/WGPzk79iFI

— BSC Information (@BSCNews) August 23, 2023

These occasions might broaden SEI’s market presence, facilitating extra rallies for the token. In the meantime, whereas ready for potential worth spikes, traders can look into different various cash, like $SONIK, for quicker ROI.

SEI Token Ranges – What Would possibly Occur Subsequent?

Following its important worth drop from a excessive of $0.2839, SEI discovered assist on the $0.1393 worth stage. The downward trajectory could be attributed to profit-taking traders who offered off their holdings after SEI listed on crypto exchanges.

The SEI token has been in a buying and selling vary for the previous seven days, exhibiting comparatively constant highs and lows with out a clear route.

This range-bound buying and selling signifies an absence of decisive market sentiment, doubtlessly hinting at uncertainty amongst merchants and traders. Nonetheless, the scenario might quickly change because the coin approaches a essential juncture. If SEI’s worth breaks beneath the elemental stage at $0.1388, it would sign a major downward shift.

Conversely, a breakout above the higher boundary of the vary ($0.1582) may very well be a game-changer. Such a transfer would possibly start a bullish rally to the $0.2155 resistance stage.

The coin would possibly swing between $0.19 and $0.2155 primarily based on historic worth strikes earlier than breaking above the resistance level. Buying and selling throughout such unsure durations could be dangerous, so exercising warning and having a stable threat administration technique is crucial.

In the meantime, the Relative Power Index (RSI) worth of 32 means that the coin is barely oversold. Merchants would possibly see this as a chance for a worth rebound, as shallow RSI values typically point out an upward motion.

Nonetheless, additional evaluation, comparable to chart patterns and market tendencies, is significant to verify potential bullishness or determine whether or not the present worth displays a extra important development shift.

SEI Greatest Different – SONIK

Regardless of the uncertainties within the crypto market, a super-speed and charming meme token, Sonik Coin ($SONIK), is attracting the eyes of traders with its exceptional presale efficiency.

The Sonik Coin presale is racing towards its exhausting cap, elevating over $500,000 in lower than two of its inception. The numerous efficiency is much like its predecessors like SPONGE, BTC20, and PEPE.

The Sonik Coin’s improvement group has set a modest exhausting cap of solely $2 million, aiming to determine its presence within the meme coin enviornment

swiftly.

Over 15% of the allotted presale quantity has already been offered in per week, hinting at a doubtlessly brief ICO period because of rising mission consciousness and pleasure.

A good portion, 50%, of the overall out there provide of 299,792,458,000 tokens has been designated for the presale. The tokens are being supplied at a set worth of $0.000014 to make sure an equitable begin for all members.

Sonik’s Stake-to-Earn Accumulate Over $11 Billion Tokens

One other important facet of $SONIK is its staking functionality, enabling token house owners to earn cash by contributing their tokens to a staking pool.

This characteristic has gained substantial traction, with over 17.4 billion tokens within the staking pool.

Round 8% of the presale allocation has been locked up inside per week, demonstrating excessive curiosity. Staking permits passive earnings at 209% annualized yield, with 9,125 SONIK per Ethereum block.

Extra staking could lower rewards, however tasks like BTC20 present staking’s optimistic worth affect. BTC20 noticed a 6x worth achieve after launch because of important staking, leading to a market cap of over $25 million.

Sonik Coin’s sturdy neighborhood curiosity suggests it might expertise a worth improve upon itemizing on exchanges. Investing early whereas momentum is rising may be sensible, as indicated by Crypto ZEUS, doubtlessly main Sonik Coin to observe the trail of changing into the following PEPE.

Moreover, the mission got here to the limelight as well-liked YouTubers spoke positively. Notable crypto presale analysts comparable to Crypto Zeus, Crypto Alert, Jacob Crypto Bury, and Michael Wrubel have lined this mission of their YouTube channels. traders ought to go to the presale web site to amass the token.