Reddit MOON crypto price has been on fire for the past few days. After a recent change in Reddit policy, the coin can now be traded on crypto exchanges. Consequently, multiple exchanges have listed r/cryptocurrency Moons. There could be more upside if the hype keeps increasing.
Moons are the crypto coins of the r/Cryptocurrency subreddit on Reddit. The cryptocurrency is awarded to the contributors of the biggest cryptocurrency community on the social media giant Reddit. On Thursday, crypto markets turned green as the BTC price broke above $30,000.
Why Are Reddit r/Cryptocurrency Moons Pumping?
While the Moon crypto has been tradable on Reddit, it was still difficult to sell it outside of Reddit. Recently, the coin has been listed on Crypto.com, which is a major digital asset exchange. This is expected to increase the liquidity of Moon coin, which is now trading at its highest level in the last 12 months.
Reddit Moon crypto price surged above $0.50 on Thursday on the news of the exchange listing. Since then, the price is having a slight pullback as it consolidates around 0.41. Technical analysis shows the price needs to flip the $0.38 level into support to aim for further upside.
Moon Crypto Price Prediction
Reddit allows communities to create their own tokens and integrate them into them. These tokens can be earned via posts, upvotes, and tipping, etc. Users can also trade these tokens on Reddit. The most popular of all the community tokens are the Moons of the r/cryptocurrecny subreddit.
Moon crypto price prediction will become extremely bullish if it flips the $0.38 level into support. This together with some strength above $0.50, can give bulls enough momentum to aim for the key psychological level of $1. However, a lot depends on the BTC price action in the next few days.
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