The new memecoin cryptocurrency, Golden Inu, is about to be on both the Binance Chain and the Ethereum Blockchain. And the “$Golden digital currency” is gaining momentum ahead of its launch on the ERC20.
A closer look at Golden Inu [BEP-20] token price action indicates that the memecoin is currently picking up pace, putting weight on an already significant upward trend.
After a retraction Saturday, June 26, the asset regained its level and then some. Throughout the week, $GOLDEN followed to a tee the price movements on a Fibonacci scale.
Currently trading at $0.00000000000043 [ on PancakeSwap ] — the token tested the Fibonacci 61.8% zone two separate times. On June 23rd and 27th, the token picked up strength at that zone, following the rules of Fibonacci’s “golden ratio”, and breaking above that margin.
The fact that the currency is breaking above the speculated Fibonacci zones indicates that buyers are outperforming bears in the daily charts.
Furthermore, the next key milestone will be retouching the $0.0000000000005 price zone.
News That Support Golden Inu’s Momentum
While price action alone is usually not enough to base investments, it does give a clear indication of how the market sentiment is regarding a specific asset.
In addition to that, there are a couple of promising pieces of news that support the idea that $GOLDEN is at the beginning of an upwards trend.
The currency is at the break of one of the most important days of its history. As mentioned before, the developers are currently working on a presale [ view here ] before the launch of the ERC20 of the $GOLDEN token.
In addition, another exciting development is promising to bring a lot of attention to Golden Inu’s space. Their upcoming P2E blockchain game, Golden Inuverse, is about to fulfill its subscriptions to the beta version of the game.
Later, the devs will also look to use the multi-blockchain token functionalities to create a new decentralized exchange capable of turning $GOLDEN into a facilitator where users can use it to swap tokens between blockchains at lower fees.
While most memecoins stay away from projects that intend on giving the crypto, and its community, utility — Golden Inu continues its trajectory to challenge Shiba Inu’s “Shibarium” endeavors.
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