Hooked Protocol worth has been one of many best-performing cryptocurrencies in 2023. The HOOK token soared to about $3, which was the very best level since December 11. A more in-depth look reveals that the coin has greater than doubled previously few days. So, what subsequent for the HOOK worth?
Hooked Protocol is surging
Hooked Protocol has emerged from a comparatively unknown blockchain undertaking into one of many main gamers within the sector. It’s a blockchain undertaking that owns a Web3 product often called Wild Money that has hundreds of thousands of customers.
For starters, Wild Money is a cell utility that anybody can obtain within the smartphones. It operates a quiz-to-earn platform the place folks can earn cash in type of tokens by answering questions. In consequence, by way of its mannequin, hundreds of thousands of individuals seeking to make some further cash are utilizing the app. Its Android app has greater than 1 million downloads.
There are different methods of earning profits utilizing Wild Money. For instance, one can refer their associates or social media customers and earn rewards once they subscribe. Additionally, one can stake, swap, and switch tokens in well-liked exchanges like Binance.
Hooked Protocol has two tokens: HOOK and Hooked Gold Token (HGT). HOOK is the governance token for the ecosystem whereas HGT is the ecosystem token that’s used to reward customers of the community.
HOOK worth is rising because the Wild Money app will get extra well-liked lately. On the similar time, it has jumped due to the continuing Worry of Lacking Out (FOMO) because the crypto business phases a restoration. Bitcoin has already moved to a five-month excessive of $23,000 whereas the full market cap of all cryptocurrencies jumped to over $1 trillion.
HOOK worth forecast
Hooked Protocol worth continued its comeback on Monday. It has been in a robust bullish pattern, which noticed it type an ascending channel that’s proven in yellow. The token moved above the higher facet of the channel on January twentieth. Hook additionally rallied above all transferring averages whereas quantity stays being at an elevated stage.
Due to this fact, whereas the general pattern is bullish, I believe that the token will retreat within the coming days. If this occurs, the following key stage to look at will probably be at $2.20, which is about 20% beneath the present stage. On the flip facet, a transfer above the psychological stage of $3 will invalidate the bullish view.