VINE Coin (VINE) Binance Futures Launch Propel 112% Surge, Expecting a 150% More Upswing
- VINE Coin (VINE) surged 112% in 24 hours, gaining significant investor attention.
- The price spike followed Binances announcement of a new VINE/USDT trading pair on Binance Futures.
- A trader made $4 million from VINEs rapid price movement, highlighting its potential.
- With an Ascending Triangle pattern, analysts predict a 150% rally if VINE breaks out with strong volume.
Vine Coin (VINE) has captured the spotlight in the cryptocurrency market, experiencing an impressive surge that has left traders and investors excited about its future potential. Over the past 24 hours, VINE has seen a remarkable 112% increase in value, positioning it as one of the top trending coins in the market and drawing significant attention from both retail and institutional investors alike.
Binances Announcement Sparks VINEs Meteoric Rise
The primary catalyst behind Vine Coins sudden price surge is the recent announcement from Binance, one of the worlds largest cryptocurrency exchanges. Binance revealed plans to launch a new VINE/USDT trading pair on Binance Futures, alongside PIPPIN/USDT. This major development has sparked a wave of excitement in the crypto community, leading to a sharp increase in trading volume and contributing to the bullish price movement of VINE.
As of writing, Vine Coin (VINE) is trading at $0.312832, with a 24-hour trading volume of $4.24 billion and a market capitalization of $312.83 million. These figures reflect the coins rapid growth and the tremendous interest it has generated in such a short period. VINEs price surge is attracting widespread attention, and many analysts believe theres still more room for growth.
Trader Profits $4M from VINEs Rapid Price Movement
VINEs surge has provided substantial profits for those who were quick to take advantage of the news. For example, one trader made a notable profit by spending $70,000 to purchase 14.64 million VINE coins just two days ago. The trader sold 9.96 million VINE coins for $2.36 million, leaving them with 4.67 million VINE coins worth $1.73 million. This resulted in a profit of approximately $4 million.
Moreover, just 9 hours ago, the same trader spent $1.69 million to acquire 13.81 million VINE coins, which are now valued at $5.1 million, showing an unrealized profit of $3.4 million. This highlights the lucrative opportunities presented by Vine Coins rapid price movement, reinforcing its bullish potential.
VINE Coin Set for 150% Rally with Bullish Setup
From a technical analysis perspective, VINE is showing a strong bullish setup. The coin is currently forming an Ascending Triangle pattern on the hourly timeframe, which is a classic bullish chart formation. If VINE breaks out from this pattern with strong volume, analysts predict that the coin could see a further 150% rally from its current price.
The Ascending Triangle suggests that VINE is likely to continue its upward momentum, and many traders are keeping a close eye on the chart for signs of a breakout. With this technical pattern in place, VINEs price could reach new heights in the coming days, offering significant profit potential for investors.
Vine Coin (VINE) has quickly become one of the most talked-about cryptocurrencies in the market, due to its impressive price surge and the upcoming Binance Futures launch. With strong fundamentals, growing interest, and a favorable technical outlook, VINE is a coin to watch closely.
Related Reading | Shiba Inus Cup-and-Handle Formation Signals Bull Run Ahead
Text source: TronWeekly
