Rollbit Price Prediction as RLB Rockets Up 10% in 24 Hours – Will RLB Reach $1 Per Coin?

Author

Joel Frank

Author

Joel Frank

About Author

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Author Profile

Share

Copied

Last updated: 

September 12, 2023

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Rollbit Coin (RLB), the native cryptocurrency of the Rollbit gambling platform that leverages the power of blockchain technology to ensure transparency and security, is up 10% in the last 24 hours as per CoinGecko.

The cryptocurrency’s latest recovery has seen it jump more than 35% from Monday’s lows in the $0.11 area, with RLB last changing hands just below $0.15.

RLB is now trading back to the north of its 50DMA, suggesting its recent pullback from the record highs it printed back above $0.21 in August may have come to an end, though RLB is yet to recover back above its 21DMA, which was last just above $0.16.

RLB continues to trade an impressive nearly 500% up from its decentralized exchange (DEX) launch price around $0.025 in late June, making it one of the best-performing cryptocurrencies of the summer.

Price Prediction – Where Next for Rollbit (RLB)?

Rollbit (RLB)’s bullish momentum has waned since August.

But with a still modest market cap of under $500 million and continued on-chain growth – at least, in terms of ETH, ERC-20 and SOL deposits – RLB could well continue going higher.

As per a Dune dashboard, Rollbit’s ETH and SOL balances continue to trend higher, although BTC deposits have stagnated.

RLB is on the verge of breaking to the north of a downtrend that has been in play since late August, a quick rally back to the yearly double top in the $0.21 area is on the cards.

Will Rollbit (RLB) Reach $1 Per Coin?

Given its impressive gains so far since launching on DEX’s, some are predicting RLB could rally a further 7x to hit $1 per token.

At the current token supply of just under 3.3 billion, a RLB price of $1 would imply a market cap of $3.3 billion.

With the broader crypto market still stuck in the throws of the 2022 bear market, a rally to these sort of price levels in the near future remains unlikely.

Shiba Inu (SHIB), a much more established crypto with a much more established community, only currently has a market cap of around $4.3 billion right now.

But as we properly enter the next crypto bull market and valuations rise across the board, a multi-billion market cap for Rollbit remains a strong possibility, assuming the platform continues to experience rapid adoption.

Given the current online web2 gambling industry is highly centralized and opaque, web3 gambling platforms that offer better transparency and security – thanks to all transactions/smart contracts being recorded for all to see on the blockchain – are likely to continue attracting users.

Alternatives to Consider

It’s always smart for crypto investors to hedge their bets, given the unpredictability of the market.

One excellent Rollbit Coin (RLB) alternative that crypto investors should consider is a new coin being launched by Wall Street Memes, one of the internet’s largest retail investing communities.

Wall Street Memes, with its over 1 million following across various social media channels, has traditionally described itself as “the king of stonks” (stocks for the uninitiated), but is also looking to claim the crown of being “the king of crypto”, with the launch of its very own meme coin token $WSM.

The presale of $WSM has been a resounding success, with over $25 million raised, and dozens of major crypto industry influencers and analysts backing the coin for major success.

And investors are running out of time to get involved, with the presale scheduled to end in under 14 days.

Get in now on a token that could match or even surpass the likes of Pepe Coin, Dogecoin and Shiba Inu.

Buy $WSM Here

^{Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.}