SKALE (SKL) Skyrockets by 50% in a Day: What’s Behind the Surge?

SKALE (SKL) Skyrockets by 50% in a Day: What’s Behind the Surge?

SKALE-SKL Crypto Image

/ Discover the meteoric rise of SKALE (SKL) as it skyrockets by 50% in a day! Explore the breakout from the rising wedge pattern and the network’s rapid growth, hitting 200 million transactions.

By CoinsProbe.

Date: 21 Nov 2023, 11:35 PM IST

In a surprising turn of events, SKALE (SKL), the zero-gas fee-enabled modular blockchain, has experienced a remarkable comeback with an impressive surge in the cryptocurrency market. Over the last 24 hours, the SKALE coin price has surged by an astounding +50%, marking a remarkable gain of +185.0% in the last 30 days. At present, the SKALE coin is valued at $0.06077, boasting a substantial market cap of $303 million.

The surge in SKALE’s value can be attributed to several factors that have contributed to its recent success.

Breakout from Rising Wedge Pattern:

One of the primary reasons behind the surge of SKALE (SKL) is the breakout from the rising wedge pattern. This significant development occurred on November 20, as the cryptocurrency’s price shattered its resistance level of $0.034. This breakout has undoubtedly played a pivotal role in propelling SKALE to new heights within the market.

SKL-Crypto-Price Chart-Coinsprobe
Source: TradingView

Rapid Growth and Milestones:

In addition to the breakout, SKALE Network achieved a monumental milestone today by processing an impressive 200 million transactions. The rapid pace at which the network is reaching and surpassing major milestones underscores the strength of its community and the robust ecosystem of revolutionary decentralized applications (dApps).

The SKALE Network’s ability to consistently achieve substantial growth and accomplishments highlights its position as a dynamic player in the blockchain space. The surge in transactions and the breakout from the rising wedge pattern have undoubtedly contributed to the renewed interest and positive sentiment surrounding the SKALE (SKL) cryptocurrency.

Disclaimer:

The information provided in this article is for informational purposes only and should not be considered as financial advice.

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