The Rollbit crypto has revolutionized online gambling, making it easier to get started and empowering users through its revenue share model. As such, it has recently fared as one of the top-performing cryptos, currently priced at $0.16 and up 39% this month.
This begs whether Rollbit is on track to reach $1. However, other GambleFi projects are going all in to steal its crown. The two most promising are the Telegram-based TG Casino and the King of Stonks and Memes, Wall Street Memes, which recently launched an online casino.
Technical Indicators Show Bearish Outlook, but Traders Remain Optimistic on Rollbit
Rollbit has recently created a higher high on the price chart after suffering a strong pullback from its August all-time high (ATH) of $0.21. The price is just 23% lower, which could easily be recovered within a couple of bullish days.
However, the bullish higher high is cancelled by the formation of a rising wedge, illustrating decreasing volatility as the price gets higher. This is considered bearish and could mean Rollbit will experience a sell-off and downtrend continuation.
Meanwhile, the Stochastic RSI is currently in the oversold region, indicating bullish momentum slowing.
Moving to the Bollinger Bands technical indicator, we can see that RLB is currently rejecting the upper band. The chart below shows that the price has strongly sold off each time it previously rejected the upper band.
Ultimately, how much Rollbit sells off will depend on the broader market performance. Rollbit may see a brief pullback toward $0.1 before making new highs if the market performs strongly in the coming weeks.
Meanwhile, if the broader market experiences prolonged bearish momentum, Rollbit may suffer and move toward $0.06 or lower.
According to TradingView analyst Moonypto, Rollbit is currently in a significantly bullish position. Its recent analysis noted that the project’s buyback and burn mechanism presents massive price potential, and an update this month showed RLB is trading above key support.
Meanwhile, X commentator 0xSysphus exclaimed that Rollbit’s burn mechanism could amount to $1.2 million worth of tokens burned every month. If accurate, this would equate to a massively diminishing supply, helping bolster the Rollbit price.
Despite this, Rollbit’s price has pumped significantly recently, leaving little upside potential. Those looking for projects with similar innovative mechanisms that also boast more bullish momentum should consider TG Casino and Wall Street Memes Casino.
Telegram-Based TG Casino Raises $1.3m on Presale with GambleFi Project Offering 25% Cashback on All Losses
TG Casino ($TGC) is a newly launched Telegram-based crypto casino enabling users to gamble directly from the Telegram app. It is currently in its presale, having raised $1.3 million in under one month.
The presale has become prominent lately as the team announced 25% cashback on all losses in the casino using the $TGC token. Moreover, TG Casino boasts countless advantages over Rollbit, providing massive upside potential.
For example, launching on the Telegram platform makes gambling much faster, with placing bets taking seconds instead of minutes. It is also KYC-free and does not require users to create an account, so users can get started quickly.
TG Casino is also one of the only Telegram-based casinos to be licensed and regulated. Meanwhile, Rollbit is not licensed, making TG Casino a more secure and trustworthy option.
Like Rollbit, TG Casino features a buyback mechanism that repurchases $TGC with a portion of the platform’s tokens. It redistributes 60% as staking rewards and burns 40%, enhancing its supply and demand dynamics.
Yet the best thing is that TG Casino is still in its early stages at a fixed presale price. This means its price is yet to pump, providing the maximum upside potential to those who buy now.
One Million Strong Community Meme Coin Wall Street Memes Launches Casino and Pumps 40% in 24 Hours
Wall Street Memes ($WSM) became renowned as the top presale crypto of 2023 after raising over $30 million in four months. What started as humble aspirations to become the King of Memes has become blockchain extraordinaire after its team announced a new crypto casino.
The project holds one of the most substantial crypto communities, with one million followers, and has even received engagement from Elon Musk. After beginning as a viral meme coin, $WSM’s newfound utility has rendered it a viable long-term investment opportunity.
Its price has pumped 44% in the last 24 hours, with investors rushing to buy due to the new casino. However, it has lots of legs left with a current market cap of just $54 million, with Rollbit currently valued at over $500 million despite a smaller community.
Those looking to use the casino can also enjoy a 200% deposit up to $25,000 when using the $WSM token.
What’s more, like Rollbit and TG Casino, Wall Street Memes also features a buyback mechanism to support its price.
However, with bullish sentiment soaring, investors looking to buy $WSM must act quickly or risk missing the next pump.