The Stool Prisondente price dropped 14% in the last 24 hours to trade at $0.09363 as of 3.40 a.m. EST on trading volume that reached $376.42 million.
The project launched only on February 8 and was quickly promoted by Barstool Sports founder David Portnoy, triggering a sharp surge before it quickly corrected.
The token’s market capitalization soared to over $200 million at its peak but has since plummeted to about $105 million, according to CoinGecko.
Stool Prisondente Price Prediction
The JAILSTOOL token’s price has found a certain stability over the last few hours, even managing to slightly recover from the button at $0.070. Its Bollinger bands have also tightened significantly over the last four hours compared to their performance during the previous period, when the price was growing or spiraling down.
This suggests that the project may have stabilized somewhat from its initial volatility that typically accompanies all cryptocurrencies new to the market.
The project’s Relative Strength Index (RSI) has mostly fluctuated between the oversold zone and the neutral value at 50. Over time, the RSI fluctuations decreased, fluctuating between 50 and 40, and then a few hours ago, the metric shot up to the value of 70, reaching the overbought zone.
After fluctuating between 50 and 70 for a few hours, it is now once again spiraling down toward the oversold zone, suggesting that the price is likely to see another drop. The RSI pattern is quite precise, which suggests that traders have likely used it as their main indicator.
While the last few hours saw a new wave of bullishness push the RSI and the price up, this could simply be the inclusion of those who did not trade over the weekend, and have just now jumped on the new project, expecting it to pump.
It is also worth noting that Bitcoin itself saw a price pump in the last few hours which took it from $97k to $98k, and JAILSTOOL may have simply followed its lead, like the rest of the altcoins.
Promising Alternative To Stool Prisondente
With Stool Prisondente currently seeing another price dip, traders interested in considering other hot tokens might consider Catslap (SLAP) , a meme coin that saw an 8% price surge in the past week.
Catslap is a popular token that went live in December and has blown up in popularity due to its slapping game, which lets you click on a photo of a cat and have it slap various entities, including Pepe, Chris Rock, Elon Musk, Michael Jackson, Donald Trump, and Chuck Norris.
The project has generated over 3 billion slaps, most of which came after it introduced its slap-to-earn model, which lets players earn money from playing the game.
The project is known for regular token burns and events that reward its community for being among the top slappers, so anyone interested in winning its next event can start slapping even now, and rise through the ranks.
The next token burn is due in less than four days, an event that puts upward pressure on price as it reduces supply.
