My Neighbor Alice (ALICE) Soars 83% in 3 Weeks, But Are Insiders Cashing Out?

My Neighbor Alice (ALICE) Soars 83% in 3 Weeks, But Are Insiders Cashing Out?

The post My Neighbor Alice (ALICE) Soars 83% in 3 Weeks, But Are Insiders Cashing Out? appeared first on Coinpedia Fintech News

The altcoin market is seeing a resurgence, and My Neighbor Alice (ALICE) is leading the charge. Over the past three weeks, ALICE’s price has skyrocketed more than 83%, reaching new multi-month highs. This bullish momentum continued on Monday, with the price surging over 50% against the US dollar. As of Tuesday morning (Asian session), ALICE is hovering around a cool $2.30.

Here’s the full outlook.

Trading Frenzy Gets Real

What’s behind this impressive rally? It seems a surge in trader demand is fueling the ALICE fire. At the time of writing, the daily average trading volume for ALICE is more than double its market capitalization. That’s a whopping $514 million in daily volume compared to a market cap of around $213 million.

This intense trading activity suggests a strong appetite for ALICE among investors.

Is the Rally Sustainable?

While the price action screams “bullish,” on-chain data paints a slightly different picture. According to market intelligence firm Lookonchain, several My Neighbor Alice vesting wallets recently deposited over 2 million ALICE tokens (worth over $5.4 million) on Binance. This on-chain activity suggests some insiders might be taking profits.

The accelerated market dump from the ALICE insiders does not necessarily imply a bearish outlook but traders should closely monitor the underlying price action. 

Breaking Resistance: The Road to $3.35?

Following Monday’s impressive rally, ALICE is currently hovering around a key resistance/support level of $2.30. The altcoin’s daily Relative Strength Index (RSI) is also at a healthy 70, indicating strong buying pressure. If buyers can push ALICE past this resistance level, the next stop could be $3.35, which aligns with the 1.618 weekly Fibonacci Extension.

Building for the Future

The My Neighbor Alice team is actively working on attracting new users through non-fungible tokens (NFTs).

Dappradar data shows the game currently boasts around 1,140 unique active wallets. This ongoing development bodes well for the future of the ALICE ecosystem.

Also Check Out : Billionaire Investor Predict Bitcoin Price To Reach $500K by 2025, Here’s Why

Bullish on ALICE or spooked by the insider dump? Let’s hear your take on the future of My Neighbor Alice!