Looking for a crypto token that blends the best of Bitcoin and Ethereum? Hemi may be the one for you.  According to its developers, the project is powered by both Bitcoin and Ethereum. 

Recently, the price of Hemi surged to record highs. The price surge is attributed to its recent listing on Binance. Curious to know more about this new entrant making strides in the crypto market? Read on! The article introduces you to the Hemi token, the factors driving its recent surge in popularity, and short-term and long-term price predictions. 

What is Hemi Token?

Hemi Token is a cryptocurrency powered by both Bitcoin and Ethereum. According to the developers, the platform offers improved scalability, interoperability, programmability, and Bitcoin DeFi capabilities. The Hemi is a governance token with future utility functions like a gas token. 

Jeff Garzik and Max Sanchez cofounded the platform. The former was a BTC core developer and later invented the Proof-of-Proof consensus protocol. The Hemi is built based on Proof-of-Proof Consensus. The Proof-of-Proof Consensus is a decentralized protocol that offers Bitcoin-level security. 

Hemi Token: The Current Market Scenario

The Hemi on 24th September is trading at $0.1502. The price of the token has surged 755.19% in the past 30 days. Moreover, the price has increased by more than 60% in the past 24 hours. The 24-hour trade volume stands at $465.05 million. The Hemi has a current market cap of $143.17 M, and the projected FDV is $1.46 B. The token has a total supply of 10 B, and currently, 9.78% of it is in circulation. 

The New Listings are Driving the Prices

The recent price surge is attributed to the Binance HODLer Airdrop Announcement. The announcement has created a bullish sentiment. According to Binance, the users who subscribed to BNB would get the airdrop distribution.

The users can now trade in Hemi on the Binance Alpha market. The move helped the HEMI garner attention in the crowded crypto market and is further expected to enhance investor confidence. 

Another key factor driving the price is the listing of Hemi on the tier 2 exchange, Toobit. Even though listing on tier 1 exchanges is more encouraging, the move did create a positive outlook. 

Technical Indicators Remain Bearish

Nevertheless, the technical indicators are pointing toward a bearish territory. The 7-day Relative Strength Index (RSI) value is 82.49, indicating overbought territory. The price is higher than the 7-day SMA. Present upward momentum of Hemi is driven by the Binance airdrop and listing; if the fundamentals do not remain strong, experts are not ruling out the possibility of a decline in prices.

Hemi Token: Short-Term and Long-Term Price Predictions

According to analysts, the Hemi’s price is projected to reach a range of 0. $ 0.150979 to $ 0.115358 in the upcoming week. The forecasted ROI ranges from 1.58% to 22.39%. 

Further in the upcoming year, similar price changes are expected to be maintained, which is 5% higher than the current value.

In the following years, the price of the Hemi token is projected to go up. In 2027, the price is projected to hit $ 0.14, followed by a further increase in 2028. The forecasted price for 2028 is $ 0.15. The predicted price of $0.16 in the next 5 years could potentially help the investors to gain around 27.63%.

Despite the current buzz and enthusiasm, the future prices are vulnerable to changing market dynamics and sentiments. Any change in crypto-related regulation or increased scrutiny can affect the prices. On the contrary, if the platform were able to form more strategic partnerships, further listings on tier-1 exchanges, and attract more institutional adoption, the fundamentals would become strong, and the price may increase beyond the predicted trajectory. 

Final Thoughts on Hemi Token Price Prediction

As an emerging crypto token, Hemi has witnessed a remarkable rise in prices driven by its latest listings. Yet, whether it could continue its upward momentum would depend on numerous factors, including the increased acceptance of the currency, the social media narrative, and external factors such as the key macroeconomic parameters and regulatory changes.

Hence, the crypto experts suggest scrutinizing the white paper and keeping updated about the latest events in the crypto world. Do ample research before making investment decisions.