Iotex’s IOTX has experienced a substantial surge, climbing from $0.2816 to $0.4425, marking an impressive gain of over 50% within the past 24 hours. The cryptocurrency is now eyeing the possibility of surpassing its previous yearly high if this upward momentum continues.

The sudden surge was triggered after a significant market maker reportedly acquired a substantial amount of $IOTX, according to insights shared by analyst Lookonchain on X.

There are indications that a wallet associated with #DWFLabs recently received 3.5M $IOTX, equivalent to $105K, as reported just 10 minutes ago.

It appears that a wallet associated with #DWFLabs received 3.5M $IOTX($105K) 10 minutes ago.https://t.co/iyGTSXRkoW pic.twitter.com/AXj4lgYk1E

— Lookonchain (@lookonchain) December 4, 2023

Strong Bullish Momentum For IOTX, Fueled By Notable Trading Volume Spike

The trading volume has notably increased, showing an uptick of over 457% in the past 24 hours. This surge in trading activity positions the 112th ranked cryptocurrency on a potential path to reach its all-time high (ATH) if it successfully breaks through the resistance zone, further propelling its price momentum.

Investors and market participants are closely monitoring IOTX’s price movements, and the recent surge has sparked considerable interest in the cryptocurrency community. 

As it continues to demonstrate strong bullish momentum, IOTX’s performance in the coming days could play a crucial role in determining its trajectory and potential further gains in the market.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Filed under: Bitcoin - @ December 5, 2023 11:05 pm