Whale-Backed FROG Coin’s Price Surges by 50%: What Comes Next?
FROG price has experienced a remarkable increase of over 50% in just one week and appears to be poised to continue its upward momentum.
The meme coin has received significant backing from its whale investors, which could serve as the catalyst for further growth.
FROG Investors Anticipate Potential
Currently trading at $0.00000738, FROG has garnered strong support from its investor community. These enthusiasts of the meme coin have been accumulating FROG in their wallets, providing a boost to the ongoing rally.
An essential driving force behind this process has been the whales. These large-scale wallet holders have acquired more than 3.3 trillion FROG, valued at over $24.3 million, in the last fortnight, bringing their total holdings to 46.96 trillion FROG.
Their conviction has offered crucial support to the meme coin’s upward trajectory. It is expected that this price surge will continue, as more than 92 trillion FROG are on the verge of becoming profitable for investors.
Find Out More: FROG Coin: An Extensive Guide on Its Nature and Functionality
Purchased at prices ranging between $0.00000700 and $0.00000890, this supply is now worth over $686 million. With the current trading price at $0.00000738, it is likely that this FROG supply will convert into profit-bearing assets.
As a result, the altcoin is expected to witness further price growth, as the potential for profits lures in more investors. Additionally, this will incentivize existing FROG holders to hold onto their assets rather than selling.
FROG Price Outlook: A Vital Hurdle
Although FROG price successfully broke free from the descending wedge pattern, it still faces a crucial barrier on its way to $0.00001000. The resistance level, set at $0.00000826, has previously been tested as both a resistance and support level.
Converting this line into a support level is of utmost importance, as it would provide an opportunity for the aforementioned supply to become profitable. Furthermore, it would enable FROG price to continue rallying, potentially testing the $0.00001007 resistance level and validating the 60% target obtained from the falling wedge pattern.
However, if this breach fails, FROG price could experience a downturn and test the support at $0.00000633. Losing this level as support would undermine the bullish outlook, potentially pushing the meme coin towards $0.00000474.