The Mobox price has made a major comeback in the past few days. MBOX jumped to an all-time high of $14.70, which was about 185% above the lowest level this week. It is also moved slightly above the previous all-time high of $11.90. According to CoinGecko, the coin has a market capitalization of more than $1.1 billion.
Mobox is a fast-growing blockchain project whose goal is to change the metaverse, gaming, yield farming, and non-fungible-tokens (NFT). It calls this ecosystem momoverse. MOBX is the native token for the ecosystem.
The Mobox price is rallying as investors react to the announcement made on Tuesday. The developers announced that they were launching the Mobox MOMO verse metaverse platform on the Binance Smart Chain ecosystem.
As part of the launch, they are giving away 5,000 mystery boxes valued at $1 million BUSD. This launch is currently available in Binance’s applications. Therefore, this explains why the Mobox price is rallying. It is similar to how The Sandbox price rallied ahead of its Alpha event.
The four-hour chart shows that the MOBX price has been in a strong bullish trend in the past few weeks. It managed to move above the key resistance at 8.76 USDT, which was the highest level in November.
Subsequently, the coin has moved above the upper side of the ascending triangle pattern. It has also rallied above the 25-day and 50-day moving averages while the MACD has rallied to the highest level on record.
Therefore, for now, the Mobox price will likely keep rising as the fear of missing out (FOMO) sets in. This could see it rally to about 20 USDT. Still, a major pullback to about 10 USDT cannot be ruled out.
This post was last modified on Dec 01, 2021, 07:22 GMT 07:22