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Ben The Dog Crypto Soars 260% Amid Listing On ByBit: What’s Next?

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Ben the Dog (BENDOG) crypto price witnessed a massive surge in the recent sessions after the BENDOGUSDT perpetual contract went live on Bybit exchange. The price soared by over 260% since its launch on June 3rd breaking past its previous all time high. 

However, after recording significant gains, the price headed down intraday. At the time of writing, the crypto was exchanging hands close to $0.0575 recording a significant negative intraday development of 7.5% which is close to 0.382 level of Fibonacci.

Ben the Dog, a cryptocurrency on the Solana blockchain, owes its inception to an anecdote involving the Solana project’s origin. Back in 2017, Anatoly Yakovenko was encouraged by the affirmative “Yeahppp” from the character Talking Ben The Dog, which played a pivotal role in his decision to move forward with Solana, ultimately contributing to the platform’s triumph.

Ben The Dog Price Explodes after Listing on Bybit!

Ben the Dog crypto made an impressive rally after the BENDOGUSDT perpetual contract went live on Bybit. As per a tweet by Bybit official and Ben the Dog, the BENDOGUSDT contract started to trade on Bybit exchange from 3rd June. Investors may trade with up to 12.5X leverage on Bybit.

Moreover, Ben the Dog crypto ranks 623rd among all the cryptocurrencies with a live market capitalization of $58.82 Million. It has a circulating supply of 999.780 Million tokens whereas the total supply stands at 999.994 Million tokens. 

Can Ben the Dog Crypto Continue to Surge or Will it Head for a Correction?

As per Fibonacci analysis, the Ben the Dog crypto suffered rejection from the day’s high and has dropped below the 0.236 level of the crypto indicating the price entering a correction.

However, it might be a profit booking rather than a correction as there has been a significant jump in the price in the recent sessions. Moreover, if the price heads for a correction it may get support near the psychological level of $0.05 which is also the golden zone of Fibonacci tools

Also, if the price gets the buyers back and surpasses the Intraday high, it may again resume its journey towards the next major supply of $0.10 level. 

Conclusion

Ben the Dog (BENDOG) crypto experienced a significant price increase, surging over 260% after the launch of its BENDOGUSDT perpetual contract on Bybit. The crypto ranks 623rd with a market cap of $58.82 Million and nearly a billion tokens in circulation. 

Furthermore, after witnessing a massive surge, the price has recently dipped by 7.5%, trading around $0.0575, which analysts attributed to profit booking. Moreover, the Fibonacci analysis suggests a potential correction, with support possibly at $0.05. Also, if buying resumes, the price may target the $0.10 level.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

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