Viberate (VIB) price sets stage for a 76% dip after going parabolic
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Viberate price has defied gravity in the past few days even as other cryptocurrencies recoil. The VIB token has risen in the past ten straight days and reached its all-time high of $0.2462. It has surged by more than 2,100% from its lowest level this year, giving it a market cap of more than $45 million.
What is Viberate and why is it rising?
Viberate is a relatively small but fast-growing company in the entertainment industry. The company is disrupting the music industry by incorporating concepts of big data. It is a leading research and analytics platform that aims to make the industry much better.
Its product is made up of three key parts. First, there is the discovery solution, where users can find more than 1 million artists, venues, events, and festivals. All these entities are ranked using various data points.
Second, Viberate has an analytics solution that is able to process more than 1 billion data points on a daily basis. Finally, Viberate has a booking and business suite that allows companies to book artists. It is a complete solution that has payments, escrow, and contracting solutions.
Viberate uses a freemium model. Its free lite product allows people to analyze two artists. Its premium version, which costs $108 per month, provides analysis for all artists along with other tools. It has also an enterprise option that is more expensive. Viberate has raised $15.5 million from investors.
It is unclear why the Viberate price has been in a strong bullish trend in the past few days even as other cryptocurrencies crash. A likely reason is that the coin is being pumped by traders. In the past few weeks, we have seen multiple coins being pumped. For example, we saw coins like Terra LUNA, LUNC, and Anchor Protocol spike and then retreat.
Viberate price prediction
The daily chart shows that VIB price has been in a spectacular rally in the past few days. As it rose, the coin managed to move above the important resistance level at $0.0552, which was the highest level in April of this year.
The coin has jumped above all moving averages while the Awesome Oscillator has moved to the highest level in days. The Relative Strength Index (RSI) has also moved to the overbought level.
Therefore, there is a likelihood that the Viberate price will soon pull back as investors start to take profit. If this happens, the next key support level to watch will be at $0.055, which is about 76% below the current level.
Where to buy Viberate
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in.
OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked.
On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
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