RabBitcoin ($RBTC) Price Skyrockets 300%: ATH Breaks in a Day, How is that possible?

Bittime - RabBitcoin (RBTC) made a splash. In just 24 hours, the price of RBTC shot up more than 300%, bringing the price to $0.00001667 (around IDR 0.26) per token. Not only that, its market capitalization also jumped drastically by 269%, now worth $251 million or around IDR 3.94 trillion. 

This rapid growth was accompanied by a significant increase in transaction volume, recording a jump of 316% to reach $22.2 million (around IDR 349 ​​billion) in the same period. What actually happens to these tokens? Keep following the review.

Main Driving Factors for RBTC Price Increase

RabBitcoin, the token of the Rocky Rabbit project, was previously in the shadow of other major cryptocurrencies. However, this sudden price spike not only changed its ranking, but also attracted the interest of global investors. 

LBank and KuCoin, the two major trading platforms that trade the RBTC/USDT pair, recorded transaction activity of more than $6.4 million (around IDR 100.5 billion) each, which accounted for around 26% of the total trading volume of these tokens. 

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Additionally, other exchanges such as MEXC and Bitget have also seen a surge in activity. MEXC, for example, recorded a transaction volume of $3.66 million (around Rp. 57.4 billion) or around 15% of the total volume, while Bitget recorded a volume of around $2.36 million (around Rp. 37 million), or around 10%.

In a short period of time, this increase in transaction volume indicates great interest in RBTC. Many crypto market observers believe that psychological factors play a role in driving token prices. 

These include the FOMO (fear of missing out) effect which often encourages investors to immediately buy assets to avoid losing momentum.

Not First RBTC ATH

Even though RBTC's increase has been drastic, it is important to note that this token has not yet reached the all-time high (ATH) that was previously achieved on September 23, 2024, namely at a price of $0.000029 (around Rp. 0.45). 

However, this latest price movement brought the token closer to that level, raising investors' hopes for a new ATH. This price spike is thought to bring wider visibility and exposure to the Rocky Rabbit project, with more people now interested in finding out more about the project's future plans and potential.

Conclusion

The increase in RabBitcoin which reached 300% in one day is not just an ordinary phenomenon. From a fundamental perspective, the surge in volume and trading activity involving large platforms such as LBank and KuCoin shows that there is serious interest in this token. 

Even though it has not yet reached ATH, this movement could be a positive sign for investors who want to take advantage of future price spikes.

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However, investors are still advised to be careful, considering that the crypto market is very volatile and can change quickly. For those who want to take advantage of this momentum, make sure to always do in-depth research before investing. 

The RabBitcoin phenomenon shows that the crypto market remains full of surprises. Opportunities can come from anywhere, even from previously little-known projects.

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