X Empire Price Soars 37% Following Trump’s Projected Election Win and Market Rally

Highlights

• X Empire rose 37% to $0.0004082, with trading volume up 94% to $1.6 billion.
• The rally follows crypto gains sparked by Trump’s projected win.
• X Empire’s trading volume on TON jumped 356%, ranking it just behind Toncoin.

The X Empire price has jumped 37% in the last 24 hours to trade at $0.0004082 as of 2:30 a.m. EST on a 94% pump in trading volume to $1.6 billion. Market capitalization now stands at $280 Million.

The price surge in X Empire’s token comes after Donald Trump’s projected election win drove notable gains for several Musk-linked cryptocurrencies. The token of X Empire, powering a popular Telegram game, was up 53% in the last 24 hours, changing hands at $0.000073. The jump extended its strong recovery from its all-time low of $0.000033 on November 3. On the back of the latest gains, the token reached $0.000096 late on Wednesday.

X Empire Price 🚀 0.00051#XEmpire#tonchain#telegrambot pic.twitter.com/mNdZozGIyn

— FAIYAZ KHAN (@aslibhai111) November 10, 2024

According to “TheCrypto_B” analyst, $X has just reached a new all-time high of $0.0002165. Following a steep downtrend, the token is now seeing impressive gains, up 350% this week. With new exchange listings and staking options, this rally may continue gaining momentum.

X Empire was created as a tap-to-earn game where users develop fictional traits of the cartoon version of Elon Musk. It is one of the most popular NFT collections that have emerged on The Open Network, driving a trading volume of $316 million, to make it TON’s most-traded token, after Toncoin itself.

It has followed the general price movements in the wider crypto market since recent political developments. Bitcoin reached an all-time high late on Tuesday, while other Musk-tied tokens like Dogecoin were up DOGE 73% over the past month.

X Empire Statistics

• X Empire price: $0.0004082
• Market Capitalization: $280 million
• Trading  volume: $1.6 billion
• Circulating  supply: 690 billion
• Total supply: 690 billion

X Empire/USDT Breaks Out of Consolidation into Parabolic Rise

The  price action for X Empire on the 4-hour timeframe shows remarkable progress from a consolidation phase into a sharp parabolic movement. The price remained flat during late October and early November, trading sideways at about $0.00004565, which signals a consolidation period during which the buying and selling pressure was balanced.

These types of consolidations usually act as the bedrock for a strong move. In early November, the price broke out of this range into a parabolic rise-outlined by the yellow dashed line-as the momentum of buying intensified. The swift rise made the price peak at close to 0.00046260 before pulling back.

Indicators Signals a Short-Term Correction

The price fell back to $0.00041371, a 9.38% drop from the peak, which shows some profit-taking or cooling of the market. Support can be seen at the SMA200 level, around $0.00013189, with a higher slope, thus giving the impression of positive long-term momentum.

Furthermore, the RSI shows overbought conditions when its value is 77.72, and the signal line is 83.28, thus indicating the X Empire price overextension in the short run. This reading of overbought basically means that after this, it is only liable to see some correction or sideways movements, after which another upward rally might be possible. If the price consolidates or corrects in the next session, this might give traders a re-entry near the SMA 200 level or at least a lower RSI level.