Top Crypto Analyst Says Accumulating New Move-to-Earn Altcoin Up Over 850% in Five Days
A widely followed crypto strategist says he’s scooping up an under-the-radar altcoin that has exploded more than 850% in less than a week.
Pseudonymous analyst The Crypto Dog tells his 747,200 Twitter followers that he is loading up on sweat equity (SWEAT), a new cryptocurrency to be moved to earn.
According to Sweat Economy’s whitepaper, cryptoassets differ from other move-to-earn tokens by gradually requiring multiple steps to mint each new SWEAT.
“To achieve our vision of making the world more physically active, SWEAT will be harder to imprint over time. Not only does this encourage users to get moving now – as their movement generates more SWEAT today than tomorrow – it preserves the utility of SWEAT as the model represents an ever-increasing marginal cost of production.”
From a technical perspective, The Crypto Dog says SWEAT looks bullish now that it is trade above a key resistance area of $0.55. The crypto strategist also predicts that SWEAT could potentially register a new all-time high.
“Quick SWEAT update: we didn’t get the acceleration. But I don’t think we care. The sweat continued to march upwards, outperforming almost all other coins. +20% on the day.
Will she ascend to heaven? We are only 25% away from the all-time high. We reasonably shoot over and run up and to the right.”
At the time of writing, SWEAT is trading at $0.067, up nearly 26% on the day and over 857% from its September 13 price of $0.007. SWEAT posted its all-time high of $0.087 on September 14.
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Featured image: Shutterstock/tsuneomp/Vladimir Sazonov/Tun_Thanakorn
