Cryptonews Industry Talk Renga NFT Pump – How High Can it Go?

Renga NFT Pump – How High Can it Go?

Gary McFarlane

Last updated: June 26, 2023 06:57 EDT | 1 min read

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Renga has seen an explosion in price with some pundits drawing similarity between it and the early stages of the Bored Ape Yacht Club.

Renga makes its move

If you’re not in the loop, Renga is a handcrafted collection of 10,000 characters developed by artist DirtyRobot. The NFTs have wider compatibility within the Renga universe. In short, RENGA is the art of storytelling.

Within just the last week, the floor price has seen a 3x increase in price from 0.77 eth to 2.9 eth.

Dirty Robot?

Some people may have never heard of Dirty Robot. The team is very strong, with one of the core team members being on Crypto Kitties.

Artist Dirty Robot initially created a collection called ‘Art of Seasons’ and used mystery to ‘tease out’ the project (NFT people eat this up!).

This also means that there’s currently a limited amount of information out there about what the project is or could be (something that we’ve noticed drives up prices).

While Renga currently has a floor price of around 3 eth, the art of seasons has a much lower entry price of only 0.38 eth as of the time of writing.

The signal was identified

The popular NFT signals trading platform NFT Signals was able to identify the signal early on, netting investors a healthy profit.

They use a special technique that involves watching whale wallets to see what whales are collectively buying.

The theory is that whales must know how to make money – otherwise they wouldn’t be whales! The signal was successfully identified on their weekly Twitterspace (You can re-listen to the recording).