On October 28th, Alien Base [ALB] emerged as a standout performer among the latest digital assets. This platform, which serves as a decentralized exchange on Base for trading memecoins, is still in its infancy, having been established less than a month ago.
It functions similarly to Solana’s [SOL] Raydium or Jupiter, catering primarily to speculative trading activities.
Within just 24 hours, the native token of the platform, ALB, witnessed an impressive surge of almost 60% in value, with availability on various platforms including Alien Base and Uniswap [UNI].
The trading volume of ALB saw a substantial increase of more than 200%, indicating a high level of interest from speculators in this novel token. The token’s value skyrocketed from under $200K to almost $600K within a short span of time.
Price Movement of Alien Base Cryptocurrency
According to market data, the altcoin experienced a staggering 100% surge over the past three days, reaching a value of $0.13 at the current moment. Should the heightened market enthusiasm persist, ALB might aim for price levels around $0.15 or even $0.17 in the near future.
Nevertheless, the price of ALB could face significant fluctuations as Bitcoin [BTC] prepares for upcoming US labor reports and the impending elections next week.
In the event of a sharp decline, ALB might retrace its recent gains and move towards the $0.08 or $0.07 mark.
Despite being operational for just one month, data from Gecko Terminal revealed a notable increase in ALB token holders, with the user count reaching close to 84K.
However, it is worth noting that a large portion, approximately 75%, of the total supply is concentrated within the top 10 addresses, introducing a significant level of market influence from a select group of users. This concentration of ownership, coupled with its status as a new token, elevates the potential risk associated with ALB.
Therefore, closely monitoring broader market trends and the activities of the top token holders could offer valuable insights into the future price trajectory of ALB.