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CORE DAO\u2019s token, CORE, sees a 67% surge reaching $2.75.
\nSeveral institutional investment funds have shown interest in CORE.
\nTechnical indicators signal a bullish trend for CORE, despite the high RSI suggesting potential overvaluation.<\/p>\n
The price of Core DAO\u2019s native token, CORE, has experienced a staggering surge of over 200% within a week, capturing the attention of cryptocurrency investors.<\/p>\n
This surge prompts an investigation into the factors fueling CORE\u2019s rapid growth and its implications for the broader cryptocurrency industry.<\/p>\n
CORE price performance<\/h2>\n
CORE DAO operates as an L1 blockchain supporting Ethereum Virtual Machine (EVM), enabling the execution of Ethereum smart contracts and decentralized applications (dApps). Its native token is referred to as CORE.<\/p>\n
With its \u201cSatoshi Plus\u201d consensus mechanism, CORE combines delegated Bitcoin mining hash with delegated Proof-of-Stake (DPoS) for security. CORE serves as both the utility token and governance token of the Core network, facilitating various functions such as paying transaction fees, staking on the Core network, and participating in on-chain governance.<\/p>\n
CORE\u2019s recent price surge has astonished market observers, with the token\u2019s value soaring by an impressive 67.25% in just one day, reaching $2.75.<\/p>\n
<\/span><\/span><\/p>\n \u00a0<\/p>\n<\/div>\n This surge has propelled CORE to the 54th position in market cap rankings, showcasing its significant market influence. Moreover, trading volume for CORE has surged by 148.07% in the last day alone, indicating heightened investor engagement and liquidity in the market.<\/p>\n CORE\u2019s supply dynamics reveal that 875,161,702 tokens are currently in circulation, representing approximately 41.67% of its total supply of 2.1 billion tokens. With a fully diluted market cap of $5.78 billion, CORE\u2019s potential market reach is substantial, enhancing investor confidence and interest in the project.<\/p>\n Technical indicators further support the bullish sentiment surrounding CORE. Exponential moving averages (EMAs) for 50, 100, and 200 days signal a bullish trend, acting as crucial support levels for price movements.<\/p>\n The MACD line indicates a positive sentiment, strengthening the bullish momentum for CORE. However, the high RSI suggests that the asset may be overvalued, potentially leading to significant price fluctuations.<\/p>\n The recent surge in CORE\u2019s price can be attributed to various factors, notably the endorsement from Coretoshis Lab. This endorsement highlighted the involvement of over 100 crypto institutional investment funds planning to purchase and hold CORE in the current year, instilling confidence in investors and attracting attention to the project.<\/p>\n 💥Explosive News🔥<\/p>\n An anonymous person who does not want to reveal his name is preparing to push the price of #CORE to $100 before #Bitcoin halving.<\/p>\n The credibility of the news is very high. It is expected that 100+ crypto institutional investment funds will buy & hold $CORE\u2026 pic.twitter.com\/zeE6R761lL<\/p>\n \u2014 Coretoshis🔸Lab (@Coretoshis_Org) March 29, 2024<\/p>\n<\/blockquote>\n Coretoshis Lab\u2019s optimism about CORE\u2019s future trajectory, coupled with references to \u201cgoing to the Moon\u201d and promising prospects for CoreDAO in 2024, has fueled FOMO among investors eager to capitalize on its upward momentum.<\/p>\n The Core Chain x Multibit\/Bitstable: Core Journey Campaign also kicked off today (April 1, 2024) further fuelling the positive sentiment around CORE cryptocurrency.\u00a0<\/p>\n The Core Chain x @Multibit_Bridge x @bssbstable Core Journey Campaign is now live.<\/p>\n Join for a chance to win prizes 🎁 <\/p>\n All you need to do is complete the tasks on @taskonxyz👇https:\/\/t.co\/ExOI4h1rHW pic.twitter.com\/ww0FgHUnOs<\/p>\n \u2014 Core DAO 🔶 (@Coredao_Org) April 1, 2024<\/p>\n<\/blockquote>\n![](\"https:\/\/media.igms.io\/2024\/03\/01\/1711978847986-de70f391-574b-4813-9cbf-392bb04c7d24.png\")
CORE price chart<\/span><\/p>\nWhy is the CORE price rallying?<\/h2>\n
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