The post Pendle Price Breaks above $4: What’s Next? appeared on BitcoinEthereumNews.com.

PENDLE has recently broken above the $4 mark, catching the attention of traders and investors. Many are now wondering what’s next for this cryptocurrency. If PENDLE price can maintain its momentum and close above $4.90, it could be on track to reach the $6 level. In this article, we’ll explore what this potential breakout means and what to watch for in the coming days. How has the PENDLE Price Moved Recently? PENDLE/USD Daily Chart- TradingView  Pendle is currently priced at $4.42, with a 24-hour trading volume of $654.85 million and a market cap of $680.17 million, giving it a market dominance of 0.03%. Over the past 24 hours, PENDLE’s price has surged by 26.23%. Pendle hit its all-time high of $7.46 on April 11, 2024, while its lowest recorded price was $0.034103 on November 14, 2022. Since reaching its peak, the lowest PENDLE has dropped is $1.84645, while the highest price since that cycle low has been $4.45. Currently, market sentiment around Pendle is bullish, and the Fear & Greed Index stands at 52, reflecting a neutral sentiment. There are 153.88 million PENDLE tokens in circulation out of a maximum supply of 258.45 million. Interestingly, the yearly supply inflation rate is negative at -34.43%, indicating a decrease in supply, with 80.80 million fewer PENDLE created over the last year. Why PENDLE Price is UP?   The recent surge in PENDLE’s price can be linked to the influence of Arthur Hayes, co-founder of BitMex and a prominent figure in the cryptocurrency world. Hayes, with a strong following, sparked market excitement when he publicly forecasted a $10 price target for PENDLE due to its integration with Bitcoin (BTC) DeFi.  This bullish sentiment initially pushed PENDLE’s price upward as investors rallied behind his prediction. The market often reacts to high-profile endorsements, especially from…

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Filed under: News - @ September 22, 2024 6:16 am