Rare cryptocurrency has been trading on the market since August 2021. Since its launch, the Rare price has continued to plummet, trading today at only $0.68. Rare is the governance token of SuperRare, a non-fungible token (NFTs) marketplace that bills itself as “Instagram meets Christie’s,”. The platform started as a centralized marketplace for digital work.
However, it would later change and begin the adoption of blockchain technology. SuperRare is an ERC-20 token that is built on the Ethereum network. The token is also governed as a DAO with a 4/7 multi-sig wallet. Today, it is ranked as the 462 largest cryptocurrency based on market capitalization. It also has a market capitalization of over $69 million.
Rare Price Prediction
My Rare price prediction indicates that the prices of the cryptocurrency will be trading at around $1.3 in the coming days. This is based on past price action, its all-time high and low prices, and how the currency is currently performing. Since its launching, the cryptocurrency was able to hit an all-time high of $3.79 on October 11, 2022.
The prices would later drop and reach the all-time lows of $0.3812 on January 22, 2022. Today, the cryptocurrency is trading at 86 percent above its all-time low prices. The prices are also at over 80 percent below their all-time low. This indicates that in the past few months since its launch, Rare has traded within a very wide margin, and this can help us predict where the prices will be in a few days to come.
Looking at the daily price chart below, today’s trading session has seen a small rise in price for the Rare cryptocurrency. The prices are also bouncing off from their all-time low. Therefore, I expect the Rare price to continue with its current upward move until it hits the $1.3 resistance level. At this point, there is a possibility of the currency continuing with its upward move.