Analyst Forecasts 85% Price Surge for Virtuals Protocol Cryptocurrency
Virtuals Protocol (VIRTUAL) Update
- Prominent analyst Michaël van de Poppe predicts a potential price surge for VIRTUAL after its current consolidation phase.
- He suggests traders could achieve nearly 85% profit by entering positions around $3, based on previous price movements.
- VIRTUAL recently reached $4.13 after dropping to $2.5 and may target an exit point of $5.55, surpassing its all-time high of $5.07.
Buyback-and-Burn Program
- Virtuals Protocol announced a buyback-and-burn program involving over 13 million VIRTUAL tokens (approximately $43 million).
- The program aims to acquire and permanently remove 25 AI tokens from circulation over a 30-day period.
- Major burns include 1.6 million GAME tokens, 1.1 million CONVO tokens, and 880,000 AIXBT tokens.
Current Price Status
- VIRTUAL is trading at $3.33, down 8.27% in the past 24 hours and 33.97% from its all-time high.
- Despite a 20.05% increase over the last 30 days, analyst Greigh Ward cautions against expecting another significant bullish run.
- The Relative Strength Index (RSI) stands at 52.03, indicating a balance between buyers and sellers, with a possible retest of $3 expected.