AVL Token Surges 21% After 80 Million Tokens Burned
Avalon Labs’ native token, AVL, surged 21% to approximately $0.2085 following a significant token burn event. On June 9, Avalon Labs removed 80 million AVL tokens from circulation, accounting for 44% of its circulating supply.
- The burned tokens were unclaimed airdrop tokens worth around $16 million.
- Over the past year, more than 100,000 wallets have claimed around $20 million in AVL tokens.
- The announcement led to a 90% increase in AVL's 24-hour trading volume, reaching $31 million.
- AVL currently ranks 649th by market capitalization at $33.62 million.
- The token experienced a peak price of $0.756 in March but has declined 25% over the past month.
Price Analysis
The AVL price has broken above the upper Bollinger Band, signaling potential bullish momentum. A breakout above $0.223 may lead to further gains. The RSI is at 67, indicating short-term overheating, while the MACD shows bullish signals.
In related news, BTC Bull ($BTCBULL), a meme coin tied to Bitcoin’s performance, has gained traction with its milestone-based presale model. Key details include:
- Current price: $0.002555
- Funds raised: $6.97 million
- Ticker: BTCBULL
- Payment options: ETH, USDT
The presale aims for an $8 million target and offers rewards linked to Bitcoin's price increases.