A new cryptocurrency named Gekko crypto is making waves in crypto Twitter. Gekko price has caught the attention of many investors after a whopping 260% pump in the last 24 hours. However, crypto enthusiasts are unable to find the real reason behind the surge.
On Tuesday, the investors’ focus shifted to Gekko crypto as it outperformed most altcoins. The unexpected surge in the meme coin comes on a day when the Bitcoin price soared to a fresh yearly high. A positive Bitcoin price action mostly sends a bullish wave across the altcoins.
According to the most recent Gekko news, the coin has been listed on the popular digital asset exchange Crypto.com. The bullish price action has pushed the market capitalization of the gecko-themed coin above $284 million. Such a high market cap appears to be unsustainable for a memecoin.
The recent surge has pushed the Gekko price to a new all-time high. This translates into 1400% gains from its Uniswap listing price. Currently, there is more than $3.5 million liquidity of the coin available on the biggest DEX.
However, despite the bullish price action, there are still only 746 holders of Gekko crypto on the Ethereum blockchain. In the past 24 hours more than $8 million worth of memecoin has changed hands at Uniswap.
The price action of a memecoin is too volatile to predict any move with certainty. As long as the price stays above $0.0000008401, Gekko price prediction will remain bullish. However, it may not be worth chasing the ongoing pump as at the current prices all holders are sitting at a profit.
If Bitcoin price experiences a sharp correction, memecoins like Gekko could take the hardest hit. Nevertheless, as it is the case for memecoins, you can never rule out another bullish leg. Currently the Gekko HQ coin hype is still at its early stages and might really take off if the Twitter influencers start shilling the coin.
I’ll keep posting my updated analysis on Gekko on my Twitter, where you can follow me.
This post was last modified on Oct 24, 2023, 17:19 BST 17:19