RIF And URO Down From ATH But DeSci Could Make A Huge Come Back
RIF and URO were launched on Pump.Science in September. At first, they did not gain much attention. Interest in DeSci later surged due to high-profile endorsements. This led to rapid growth for both tokens. But they are now experiencing a loss in momentum and a bearish price action. Will we see again the rise of DeSci?
At the beginning, Pump.Science’s activity surged partly due to support from blockchain leaders. Ethereum’s Vitalik Buterin and Binance’s CZ promoted DeSci at Devcon in Thailand. Their backing helped spotlight DeSci, renewing interest in projects like Pump.Science.
Now that the initial hype is cooling down, the prices of RIF and URO have undergone a significant correction, but this could also be a great opportunity for those who were left behind to dive into this narrative.
URO reached $150 million before dropping 80% from its peak. RIF briefly hit $240 million but then fell sharply to $85 million, down 65% from its high.
DeSci Projects – URO And RIF Price Action
(RIFUSDT)
Initially, $RIF experienced a strong upward surge, which was followed by a consistent decline, bringing the price down to around $0.08169. This decline suggests a general cooling off in market enthusiasm.
The 50-period Moving Average (MA) trends above the token’s price, signaling a bearish trend. The price below this average shows that sellers dominate the market. To recover, $RIF needs to break above this MA, which would signal a potential reversal.
The Relative Strength Index (RSI) for $RIF currently stands at 33.18, placing it close to the oversold territory (typically below 30). This suggests that selling pressure may weaken.
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What About URO? Is The Second Pump.Science Coin Doing Any Better?
(UROUSDT)
URO’s price dropped from the ATH and currently has a market cap of around $25.39M, suggesting a cooling off in momentum.
The 50-period Moving Average (MA) is above the current price, indicating a bearish trend. For $URO to show recovery signs, it would need to break above this MA to confirm a possible reversal.
Trading volume shows decreased interest after the initial surge, pointing to fading momentum among buyers. The RSI currently stands at 37.94, indicating that $URO is nearing oversold conditions, which may attract buyers looking for discounted entry points.
In summary, $URO appears bearish but could see a potential bounce if buying pressure returns and the price moves above the moving average. Investors should monitor increased volume and RSI recovery as indicators of renewed upward momentum.
Both RIF and URO show signs of weakness, probably caused by the shift in narrative typical for crypto and early buyers taking profit after a crazy run.
Personally, I think Decentralized science (DeSci) will gain momentum again as a revolutionary movement that leverages blockchain technology to create an open, permissionless infrastructure for scientific research.
The price action is still short-term bearish, but things can change quickly in crypto. It might be wise to look into this narrative.
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