- Zigcoin ($ZIG) reached a 7-day high of $0.178, indicating a drop of 12.03% from its peak.
- $ZIG breaks its resistance and rallies towards its ATH of $0.30, with a bullish trend
- Zigcoin’s all-time high was reported on 15 April 2021, with an approximate value of $0.224179.
$ZIG (Zigcoin), the native token of Zignaly has recently retested its highs, expected to reach a new All-Time High (ATH). While Zigcoin is now trading 79.52% below its all-time high of $0.0224179, reports indicate its potential for recovery as the market conditions improve. However, the market is optimistic as it recently retested, and its growing use in social trading and profit-sharing pools. $ZIG is expected to have a bullish momentum fueled by increased investor interest and market sentiments. This article will analyze the recent trends, current price action, and factors driving the rally, with an overview of Zignaly.
Market Overview of Zigcoin ($ZIG)
Zigcoin (ZIG) is a utility token of Zignaly, launched in 201,8, and is known as an ERC-20 token built on the Ethereum network. It allows users to engage in events such as governance, platform discounts, and loyalty programs. ZIG provides additional security for investments like NFTs made through the platform. ZIGChain is an EVM-compatible Layer 1 Blockchain with the aim of wealth generation and bringing democracy to financial markets. Zignaly has an efficient community support of over 600,00 registered users, 30,000 holders, and over 100,000 followers on social media platforms like X, Telegram, and Discord.
Overview of $ZIG
- Current Price: $0.1505 (as of 10 December 2024)
- Market Cap: $215.61 Million
- Trading Volume (24 hours): $4.43 Million
- Circulating Supply: 1.43 Billion ZIG
- Total Supply: 2 Billion ZIG
From the overview, it can be analyzed that the low market cap and a significant increase in the trading volume may result in a price surge reaching a new all-time high.
The Recent Surge in Price: Retesting New Highs
After reaching a peak on November 25, $ZIG traced back to its base level. Recently there have been developments in the trading activity as the token retested, it climbed its resistance value, indicating strong market confidence. As it breaks above its resistance, it can easily rally toward its new all-time high. This recent surge can be due to several key factors that signal strong market dynamics.
- Increased Adoption and Regulations
Zignaly has introduced new approaches for investors to practice strategies and participate in profit-sharing pools. Along with it, there have been regulatory advancements like limiting non-essential spending and prioritizing payments on outstanding obligations to create a scarcity of ZIG in circulation. This reduction in supply increases the demand, followed by a surge in price.
- Technical Indicators
The ongoing triangle pattern and the bullish trend indicate an upcoming breakout. The current RSI at 60 represents strong buying interest.
- Staking and Rewards
ZIG rewards and gives incentive to its users by reducing overall supply, but offering its users attractive yields. Moreover, 25% of its circulating supply, puts significant pressure on its price.
- Market Sentiments and Dynamics
The crypto market itself is known to be volatile as it is prone to frequent price drops and surges. Recently, ZIG has gained momentum by attracting investors looking for profitable opportunities.
Price Projections
Analysts predict that if $ZIG breaks the resistance level, it is expected to reach a new all-time high of around $0.30. Here are the key price level projections:
- Support level: $0.20, $0.18
- Resistance level: $0.23, $0.30 (All Time High)
- Short Term Target: $0.28 to $0.30
- Long-term target: $0.32 to $0.40 (by 2025, Q1)
Expected Challenges
While the community expects growth and a promising outlook, $ZIG may face some challenges:
- Market Volatility: if the market sentiments return it could impact the growth trajectory of $ZIG, which could make the market trend bearish.
- Platform Adoption: A sustained price and improved security and transparency can improve the growth of $ZIGThis largely depends on $ZIGs ability to attract users.
- Competition: Established platforms may give stiff competition. $ZIG should adopt innovative methods to withstand the impact of competition.
What Sets Zigcoin ($ZIG) Apart?
Unlike the speculative tokes, $ZIG has a distinct use case and is supported by its long-term viability, strengthening its market position. Other similar tokens like Covesting (COV) and eToro’s GoodDollar exist, and Zand IG focuses on decentralized profit-sharing pools. Which is a unique feature of $ZIG. Its collaboration with leading DeFi could improve Zignaly’s ecosystem and the $ZIG coin’s utility. It may introduce AI-powered strategies to provide accurate data and increase the demand for $ZIG.
Conclusion
$ZIG, with its innovations and technical indicators, position it as a strong competitor with ZIG moving forward to reach its new all-time high. While it is now trading at a lower percentage than its previous ATH, the market is expecting to reach new heights with the recent retest and market sentiments.
With the current trading price of $0.1505 (at the time of writing) and a 24-hour trading volume of $4.43 million, analysts predict growth and its potential to surge high. As $ZIG approaches the resistance level of $0.23, all eyes are on its next move. However, investors foresee a short-term flip followed by long-term growth potential.
