- The Alien Base crypto rose by almost 60% in 24 hours.
- The altcoin is less than a month old, but has more than 80,000 users.
Alien base [ALB] was one of the new and best performing assets on October 28. The platform is a new decentralized exchange on Base for trading memecoins and is less than a month old.
It’s the equivalent of Solanas [SOL] Raydium or Jupiter, purely for degenerate speculation.
The platform’s native token, ALB, is up almost 60% in the last 24 hours and was available on Alien Base and Uniswap [UNI]among other platforms.
Source: Coingecko
Volume increased by over 200%, underscoring the level of speculative interest in the new token. In just a few hours, the price rose from less than $200,000 to almost $600,000.
Alien Base crypto price action
Source: ALB/USD, TradingView
On the price charts, the altcoin rose almost 100% over the past three days and was valued at $0.13 at the time of writing. If the explosive market interest continues, ALB could expect to see $0.15 or $0.17 in the near term.
However, ALB could witness volatile price swings Bitcoin [BTC] is preparing for the US labor market updates and next week’s elections.
In the event of an extreme downturn, ALB could follow its recent gains and head towards $0.08 or $0.07.
That said, Gecko Terminal revealed that despite being only a month old, the number of ALB token users had increased to almost 84,000 users.
Source: Gecko Terminal
However, around 75% of the current supply was held by the top 10 addresses, making it highly concentrated among a few users, which could significantly impact the market direction for ALB. This could increase risk exposure, besides being a new token.
Therefore, following macro updates and the top addresses with the highest offer could help determine the next price direction for ALB.
