• GALA, the native token of the non-fungible token (NFT) gaming project, has recently seen a significant bullish price action with a 194% rally since late December 2022.
• On-chain activity, such as whale activity, has supported the token’s price action and allowed it to push beyond resistance at $0.048.
• Data from analytics firm Santiment indicates that the spike in activity preceded the rally and suggests further appreciation.
The non-fungible token (NFT) gaming project, GALA, has recently been experiencing a significant uptrend in its native token. Since late December 2022, the token has seen an impressive 194% rally, pushing its price to levels not seen since mid-September 2022. This massive rally has seen the token move independently during these periods, with the larger cryptocurrencies barely catching up. At the time of writing, GALA’s price trades at $0.04 with a 16% profit in the last 24 hours.
The recent upward trend of GALA can be attributed to an increase of on-chain activity, such as whale activity, that has supported the token’s price action and allowed it to push beyond resistance at $0.048. Data from analytics firm Santiment indicates that the spike in activity preceded the rally and suggests further appreciation.
The firm has also noted that amongst the many surging altcoins in 2023, GALA has been making a tremendous run. They believe that the price of the Ethereum-based asset could continue to rise over the coming months, as whales continue to invest heavily in the token.
Despite the recent surge in GALA’s price, investors should still exercise caution when investing in the token. As with any investment, there is always the potential for losses, and investors should be aware of the risks associated with investing in this digital asset. Furthermore, investors should also be aware of any potential changes in the token’s fundamentals, as these could have an effect on the token’s price movements.