As Bitcoin’s focus remains on the $24K mark, lesser-known cryptocurrencies have been making significant gains. Among these is the MINA token, which has garnered attention for its substantial double-digit increase.
MINA’s Impressive Performance
At the time of writing, MINA was trading at $0.84, marking a remarkable 24.62% surge within the last 24 hours. This makes MINA the current top performer in the cryptocurrency market.
The altcoin’s impressive rally commenced at a low of $0.6539, reaching a high of $0.9176. This performance has sparked speculation within the community regarding the possibility of MINA reaching the milestone of $1.
Technical Analysis
As evident from the chart, MINA has successfully surpassed significant resistance levels of $0.766 and $0.821. However, the asset has subsequently experienced a slight setback.
Should this trend continue, MINA may experience a decline to its immediate support levels of either $0.627 or $0.518. It is noteworthy that the asset has rallied approximately 125% since the beginning of 2023, reaching a value last observed in August 2022.
Community Sentiment and zk Token Buzz
The community has expressed optimism regarding MINA’s potential, with some speculating about its potential to reach $1. Nonetheless, others have emphasized the likelihood of the recent surge being short-lived.
The concept of zk tokens has generated significant interest, with many believing it represents the future of blockchain scalability and privacy. This has contributed to the recent momentum of zk tokens.
Social Media Impact
The cryptocurrency industry has a reputation for rapidly disseminating news and trends. MINA’s recent surge has propelled it to the forefront of discussions within the crypto community, resulting in a significant increase in its social volume.
According to LunarCrush, the price movements of MINA have closely aligned with its social dominance.