EGO is back among the top trending cryptocurrencies today. This as the price continues to defy the ongoing weakness across the market. EGO is currently trading at $0.1209, with a market capitalization of $6.8 million.
The Use Case Is Strong
EGO is the cryptocurrency that powers the Paysenger ecosystem, a platform designed to connect creators and their followers without the restrictions of centralized systems. EGO has a strong use case with the Paysenger ecosystem. For instance, users can use it to pay for special performances exclusive to the person paying for it.
Essentially, as more creators adopt Paysenger as their primary way to churn out content, the EGO token’s intrinsic value will also rise. Such potential, mainly due to growing concerns of censorship on centralized platforms, gives EGO the potential for explosive value growth in the future.
However, more than just the use case has seen EGO continue to outperform the market. There is also the fact that the tokenomics and market cap make EGO one of the best cryptocurrencies for investors looking for 100X or more gains once the Bitcoin halving triggers parabolic price moves across the market.
Impressive Tokenomics
EGO combines a low token supply and a low market cap. EGO has a circulating supply of 56,6089,802 and a maximum supply of 323 million. Even at its maximum circulating supply, EGO’s supply is much lower than most cryptocurrencies, especially in the small-cap category.
The market cap of EGO is currently at only $6.7million. For its low token supply and strong use case, this cryptocurrency has the potential to hit a $1 billion market cap in an all-out bull market. This means it will likely give investors multiple times more in percentage gains than large-cap cryptocurrencies like Bitcoin. This may explain why investors find this cryptocurrency attractive despite the lack of direction in the broader market.
EGO’s potential to rally to hit a $1 billion market cap is enhanced by its strong social media community. The community is a strong pillar of the success of any cryptocurrency. EGO’s vibrant community is currently excited that EGO could soon hit $1. Such hype at such a time when EGO’s price is surging could trigger FOMO buying and push this token to prices it has not tested in the past.
More Exchange Listings
EGO also has the advantage of being easily accessible compared to most small-cap cryptocurrencies. EGO is listed on several top cryptocurrency exchanges, including KuCoin. Today, it has been listed on BitGet exchange, which makes it more accessible to an even bigger audience, adding to the potential for more upside.
Today!
🔹Deposit: opened
📷Trading starts: 13:00 (UTC) pic.twitter.com/AKabarAL69— EGO (@Ego_Paysenger) March 20, 2024
In the section below, we do an EGO price prediction to determine whether EGO can sustain the current uptrend or if a price correction is imminent.
EGO Price Prediction – Why $1 Is A Realistic Short-Term Target
When going to press, EGO was trading at $0.1137, up by 31%. Trading volumes were also up by 100% to hit a high of $7.042 million, an indicator of rising demand for the token.
EGO is currently in a slight correction after more than 24 hours of solid gains as short-term traders take profits. If bulls remain strong in the market, the key level to watch will be the day’s high of $0.13814. If bulls push EGO through the $0.13814 resistance, then prices above $0.20 could be hit within 24 hours.
However, if buying volumes remain low, two scenarios could play out in the day. The first out would be a possible consolidation between the $0.13814 resistance and $0.10949 support.
On the other hand, if bears take control and push EGO through the $0.10949 support, then prices below $0.10 could be hit in the day.
Why $1 Is Coming Soon
If EGO can hit $0.20 in the next 24 hours, then $1 could be within reach in the week. Multiple factors support such a price move. One of them is the rising bullish sentiment after last week’s correction. Then, there is the fact that EGO is currently trending on social media, and with its impressive tokenomics, investors could see FOMO in anticipation of 1000% or more gains.