Crypto
RaveDAO Skyrockets on Speculative Demand, Eyes $0.40 Breakout
RaveDAO's price surge has been driven largely by speculative demand, according to recent data from CoinGlass. The altcoin broke out of a prolonged consolidation range after bouncing to a monthly high of $0.369.
At press time, RAVE was trading at around $0.363, marking a 16.25% increase on the daily charts. This price hike has flipped both the 20 and 50-day EMAs, indicating strong upside pressure.
The altcoin's trading volume climbed by 147% to $13.7 million over the same period, reflecting strong market activity and capital circulation.
Speculators have been driving RaveDAO's rebound, with derivatives volume rising by over 211% to $83 million while Open interest (OI) surged 21% to $32 million as of writing.