Is It Too Late to Buy Synthetix Network? SNX Price Soars 14% as Surprising New Meme Coin Approaches $2 Million – Next Pepe Coin?
Leading derivatives liquidity protocol Synthetix Network has broken out with SNX price soaring +14% following the announcement of an upcoming Perps V3 launch on Coinbase’s native scaling blockchain BASE.
With an exciting partnership connecting promising off-chain oracle Pyth network also in the works, Perp V3 is set to deliver a plethora of innovations including cross margins, expanded multi-collateral trading, account based-access, and liquidation upgrades.
Exciting news! Perps V3 is on the horizon, set to build upon the remarkable success of V2. Get ready for its upcoming launch on @BuildOnBase via the Andromeda Release.
V2 brought a paradigm shift to onchain perps, focusing on risk management and introducing now-standard features… pic.twitter.com/z2a7U9N4nv
— Synthetix ⚔️ (@synthetix_io) November 19, 2023
The news has seen market sentiment turn decidedly bullish as part of a wider explosion in BASE-launched projected linked to the #BuildOnBase initiative.
$SNX / $USD – Update
Minimum target $4.20 on this pump legends pic.twitter.com/bX2FTnnwr6
— Crypto Tony (@CryptoTony__) November 20, 2023
As SNX price remains high in the breakout trading channel, Synthetix Network is currently trading at a market price of $3.52 (representing a 24-hour change of +2.74%).
Yesterday’s significant SNX price pump came on the tail-end of a 35-day push after a bounce from the supportive lower trendline in SNX’s breakout trading channel.
Pushing off lower support at $1.80 on October 16, price has climbed +105% over the past month.
Now in the midst of minor localized retracement after resistance at the upper trendline, the SNX rally has so far hit a local top at $3.725.
Moving averages highlight the bullish momentum underpinning current SNX price
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