The cryptocurrency market is very weak right now and the Fear and Greed Index is currently pointing to “Extreme fear.” It is moments like these that make high-caps quite unlikeable, pivoting capital to low to mid-cap assets that continue to show promise.
Such is the tale of FUNToken. A crypto whose narrative is essentially a concoction of utility and memes has continued to topple market expectations and show growth on the intraday charts that no one expects. Granted that much of the growth has been the result of clever tokenomics, but that still unveils the strength that this project possesses. The current price action looks more like an accumulation phase, which has made investors wonder whether it is time to invest.
FUNToken Price Action: Intraday Price Chart Is Generating Optimism
The FUNToken price action is not so different from an asset that has not gone vogue to a high degree. Staying under the radar reduces the impact of the market’s volatility, and if the project has a robust and insular community around it, it can grow.
Currently trading at $0.002 and having a market capitalization of over $22 million, FUNToken is a low-cap asset whose low price and strong community factor have helped it stay strong against the winter blows of the market.
The intraday chart of this utility asset shows that the price action followed a rising channel first, but then a sideways trend emerged. This choppy array of candles shows bulls and bears in near-equal force, which could be a sign of good things to come.
Is Accumulation or False Hope?
The aforementioned price action has made people bullish. However, similar patterns have emerged in the past for other assets that, more often than not, turn out to be fakeouts. Exposure to volatile market conditions has led many assets to break down from similar setups.
In the case of FUNToken, however, the price trend feels like true accumulation because similar setups have emerged before.
The same price action happened in June of this year, which led to the token’s value going upwards by over 300 percent. In essence, there is historical proof that the same trend could be repeated, helping those who invest today generate gains from FUNToken’s potential breakout.
Factors That Could Help FUN Price Move Up
There are multiple factors at play that could help FUNToken move up in value. Following are the key ones:
Community-Centric Engagement
The project’s community-centricity makes it one of the best meme coins on the market. The project has upwards of 62K followers on X already, and a near similar number of members can be found on its Telegram account. FUNToken always offers constant updates about the latest advancements within its systems, which keeps the community informed. The conversations around the asset are also positive. This could keep conversation around the asset more positive, which could fuel its relevance in the long term.
Compliance Milestone
The tweet by Archax, which was posted on October 17, reveals that FUNToken was able to hit an EU compliance milestone. Achieving this milestone means users have access to a better and clearer whitepaper, and better token fundamentals. Considering different regulations have finally started to take shape around cryptocurrencies, a project that complies with the rules is likely to offer more value in the long term.And now that investors have started to seriously focus on the verification aspect of an asset, possibilities are high for this token to succeed.
Multiple Listing Planned
One of the latest posts by FUNToken itself revealed that more listings are coming for the token. This expansion means access to more liquidity and FUNToken getting exposed to more people. It is an approach where the wider net cast by the project could yield parabolic gains in the short term.
While FUNToken carries some meme-driven appeal, it is also a gamefi crypto with strong tokenomics and future-centric attributes. Through the presence of staking, it lets investors support the project, which could eventually lead to gains for them. The presence of staking could result in more relevance for the project in the long term and perhaps the evolution of the project that could bring more games to the fold.
Final Words
The current bearish market has sapped much of the confidence people had for crypto. Now, their only option lies in small-caps that could yield parabolic gains while still bringing something innovative. FUNToken, thanks to its recent price action, has proven itself to be an asset that could make it possible. So yes, the current price trend, which shows accumulation, represent a good time for people to invest in this project.
