Cryptocurrency arena is quite volatile and in this volatile context there is a token that is attracting investors as well as traders rapidly. OGLONG is another relatively unknown project that recently saw a significant spike in its value, which shortly garnered the crypto investors’ attention.
Now holding a ranking of #2948 in the large world of cryptocurrencies, OGLONG has ascended in worth to $0.004395 per token, which is a 20.05% rise in worth over the last day. This sharp move higher has placed the token under the limelight, and this has made many starts to consider its potential both in the near and long term as more investors factor in its fundamentals.
OGLONG now holds a total market capitalization of $10.57m; therefore, it belongs to a group of small-cap tokens. From its analysis one notices that despite the smaller sized market the token that has been analysed here has been able to foster a lot of trading. The 24-hour trading volume is $977,080, up 2.32% day over day. This increase in volume points towards increase in attention and volume of the OGLONG market.
A measure that many traders and analysts pay special attention to includes the volume to market capitalization ratio, and for OGLONG at the moment stands at 9.26%. This figure stands at a good ratio with the size of the token’s market, which might be good indication of strong market contribution and investors’ activity.
OGLONG has a fully diluted valuation of $10.60 million which is quite close to OGLONG’s current market capitalization. Thus, the difference between the market capitalization and the FDV is comparatively small, which can be interpreted as evidence of a large proportion of tokens currently in circulation and thereby, as a somewhat favourable factor from the point of view of buyers concerned with dilution.
To follow it up, the total and maximum supply of OGLONG is 2.41 billion tokens. Notably, based on the self-reported circulating supply, the figure coincides, which means that every token is in circulation at the moment. The distribution of the tokens in this model can be considered as transparent by investors who prefer simple and easily understandable tokenomics.
This price hike of OGLONG has been trending in the crypto circle over the last few days. Everywhere from social media, to crypto forums and communities, discussions regarding the token and the underlying factors that they believe are influencing its performance recently. While some are busily day-trading OGLONG based on the tick chart and attempting to make a quick dollar, other are always striving to research the long-term feasibility of the project behind OGLONG.
Like any other digital currency, especially those with relatively low rankings, it is always advisable to approach OGLONG with a lot of caution. When it comes to the crypto market, high volatility is what you can expect, and average fluctuations up and down are the norm. The 20.05% increase in one single day also shows the volatility of Bitcoin which is also very important to keep in mind.
Before discussing the current price, it is necessary to note that OGLONG is valued at a slightly different price than what is posted by other pure tracking sites. For instance, the information retrieved from the website of an aggregator focusing on cryptocurrencies, called CoinMarketCap, indicates that the price of this token as of October 10, 2024, was $0.004927, while the 24-hour trading volume was $1,100,421. Likewise, trading volume was $1,102,729 as of the last 24 hours at CoinGecko, with a trading volume decrease of 27% day-over-day. Such differences raise the argument of using several sources when researching cryptocurrency data.
In the next few days and weeks, as OGLONG rises in prominence, investors will be quick to weigh its performance. Other consideration areas include volume trading over a long period, its ability to list on a major exchange, and any new development or announcement on the part of the project team.
Although the latest price hike has indeed brought OGLONG into the limelight, many crypto lovers and this area of the financial market is still volatile and undergoing breakthrough changes. Investors should undertake their research, assess their capacity to handle risks associated with the investment and consult with other financial experts before making the investment decision.
In conclusion, the recent trading performance of OGLONG has added a spark to the crypto market and proved that many tokens with far less visibility can also have a robust run. The primary reasons for the creation of tokens like OGLONG are as compelling as the advanced maturation of the digital asset market at a futuristic level. Whether this surge marks the beginning of a longer-term trend or a temporary spike remains to be seen, but one thing is certain: OGLONG has definitely entered a practically infinite universe of digital assets, whether it is considered as a success is a matter of debate.