HBAR Up More Than 20% As Some Are Calling For An Incoming Supply Shock For Hedera’s Native Token

The native token for Hedera Price Volume in 24h Price 7d , HBAR crypto, has surged over 21% in the last 24 hours and nearly 70% in the past 7 days. It briefly tapped $0.25, which also saw HBAR enter the top 20 cryptocurrencies, per CoinGecko. Now, some are calling for a supply shock on its way as HBAR continues to be moved off of exchanges.

It is now trading for just under $0.25 and has fallen to 23rd place in the list of top digital assets by market cap. Hedera’s market cap is currently $9.3 billion. Another leg up will likely place HBAR above $10 billion, overtaking Bitcoin Cash (BCH) and Sui (SUI) in the process.

🚨 WHALES KEEP ACCUMULATING: $HBAR continues to be taken off exchanges as the SUPPLY SHOCK is starting to gain momentum.

There will soon be very little HBAR left to buy on exchanges, potentially causing a skyrocketing price appreciation due to demand outweighing supply. pic.twitter.com/nKjEbdaJtb

— Shawn (@oroogle) December 2, 2024

XRP Is Leading The Way For The Markets’ Renewed Interest In Serious Projects With Real-World Usecases

🚨 Breaking: Utility coins have the highest monthly gains in the top 100! $XLM 462% $ALGO 333% $HBAR 329% $XRP 299% $ADA 206% $IOTA 176% pic.twitter.com/pV0WFYfjgu

— TheBlockchainMedia (@TheChainMedia) December 1, 2024

The spike in price for HBAR has been fueled by tokens such as XRP breaching their own all-time highs. For the time being, market sentiment has seemingly drifted away from meme coins and AI bots. Investors are now seeking out legit projects with institutional connections.

During the last bull run in 2021, HBAR peaked at $0.5692 before spending the following two years ranging between $0.04 and $0.1. However, early last month, HBAR broke out in a big way, jumping from around $0.043 and climbing above $0.2. almost 266% Per CoinGecko, Hedera’s native token is up 428% over the past 30 days.

Many catalysts have led to the strong performance of HBAR in recent times. NASA recently published a research paper on Hedera, leading to Hedera announcing that its blockchain technology will be heading to space via Elon Musk’s SpaceX rockets.

Aside from the Space-related news, one of Hedera’s board members has been touted as a potential SEC Chair replacement for the outgoing Gary Gensler. The firm behind HBAR has also been making a big push into the RWA (Real World Asset) sector and is fast becoming the home for the emerging industry.

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Long-Term Predictions For HBAR Crypto: Is $20 On The Cards For Hedera Price?

(SOURCE: X)

All of this news and more regarding Hedera over the past few months has led to a renewed interest in the project. With HBAR now firmly above $0.2, analysts are predicting a push toward $0.35 before making a run at its 2021 highs of $0.56.

By the time this bull run is over, there is a good chance that HBAR could be trading above $2.5, representing more than a 10x ROI from these current levels. There are some that believe that longterm (2030 onwards), HBAR could rise to over $20, assuming widespread adoption and continued strong enterprise partnerships.

Only time will tell how realistic these projections are, but if Hedera truly becomes the blockchain and digital asset of choice for future space missions, it will stand alone in that regard, and the sky (or Space) will truly be the limit for HBAR.

DISCOVER: The Hottest Meme Coins to Buy in The December Meme Coin Market

BONUS: Cat Slap (SLAP) Looks Ready To Break-Out As The Team Continue To Burn Tokens

How is nobody talking about $SLAP #CatSlap .They just dropped “Slap-to-Earn” literally earning crypto with every click.

It’s such a wild concept, but somehow flying under the radar right now.

Feels like one of those “wish I got in early” moments. 👀https://t.co/pxTzOdwnLC

— sp (@straightpeezys) November 30, 2024

SLAP is a viral meme coin on the Ethereum network. Cat Slap has been consolidating since spiking to over $50 million in market cap within the first few days of launching. Now, it looks set to explode from its current range of $20-25 million, and here is why:

The team announced last week that it had burned 10 million SLAP tokens, while at the same time hinting at a huge upcoming announcement. There is currently a timer on the Cat Slap website, with less than 3 days remaining until it hits 0. This is when the team will reveal the bullish announcement.

(Burn Tracker)

While waiting, the team opened a burn tracker dashboard, which currently shows more than 38 million SLAP tokens being burned thus far. This equates to a staggering $124,000 worth of SLAP removed from the supply. Whenever an investor un-stakes their SLAP early, it results in a penalty.

The SLAP received from these penalties is automatically sent to the incinerator, therefore reducing the supply of SLAP every day.

Top-tier exchanges are rumored to be close to listing SLAP, and at the rate that tokens continue to be burned, it would not surprise to see a supply shock on its way. A supply shock is a huge spike in price due to a lack of tokens available for exchanges.

Visit Catslap Token website or Best Wallet to buy $SLAP

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