Price Analysis

Is BitTorrent (BTT) Price Rally A Classic Pump and Dump? Here’s What You Should Know

BitTorrent (BTT) price surges to $0.0000011 for the first time since May 2022 bolstered by key achievements in the Tron ecosystem.
Published by
Is BitTorrent (BTT) Price Rally A Classic Pump and Dump? Here’s What You Should Know

The BTT token, native to BiTorrent, a file-sharing protocol acquired by Tron in 2018, surged in value on Wednesday following a significant leap by the Tron blockchain.

BitTorrent price climbed to $0.0000011 for the first time since May 2022, as the Tron blockchain, on which it is issued achieved another milestone, rising to 200 million users.

Trading volume increased by $1,157% to $374 million as traders found BTT price movements attractive, possibly for scalping, market data by CoinMarketCap showed.

Aside from Tron’s achievement, there was no news driving the rally which saw cumulative gains in the past week increase by 67%. This could also be one of the factors resulting in a 27% correction to $0.00000075.

Recommended for you: Top 3 Meme Coins To Buy In December For 2024: DOGE, BONK and Optimus AI

Advertisement

Is BitTorrent (BTT) Price Rally A Pump And Dump Affair?

The BitTorrent market cap closed in on the $1 billion mark following the specular breakout, from support at $0.0000005. BTT also formed the biggest weekly candle in history, as it doubled in value.

BitTorrent (BTT) Price chart | Tradingview

It is too early to tell if the rally will continue. However, traders may want to closely monitor the direction of the Relative Strength Index (RSI). A persistent uptrend into the overbought region which is the case at the moment validates a bullish theory.

Therefore, higher support in the region between the 50-week Exponential Moving Average (EMA) (red) at $0.0000005919 and the current market value of $0.00000075 could help keep bulls in control, and lead to another breakout above resistance in the area running from $0.000001 to $0.0000011.

The RSI in both the daily and the four-hour time frames paints a grim picture for BitTorrent as it slides into the neutral area. This trend change underscores the intensifying sell-side pressure, possibly due to profit-booking activities.

BitTorrent (BTT) Price chart | Tradingview

If support highlighted by the 21-EMA on the four-hour chart holds, bulls could have an early chance to deal with the overhead pressure above $0.0000007. With support confirmed, investors could pique interest in buying the dip while betting on another breakout—an uncertain future.

Tron (TRX), the token powering the Tron blockchain did not see see massive price surge like BitTorrent. Trading 1.4% lower on the day and 0.6% lower in a week, TRX is barely holding onto support at $0.1.

Related Articles

Advertisement

Share
John Isige

John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity

The PEPE Coin price has returned to a crucial demand zone after a sharp decline,…

September 27, 2025
  • Price Analysis

Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing

The Solana price narrative continues to gain traction as market voices highlight both technical accumulation…

September 26, 2025
  • Price Analysis

Avalanche Price Could Surge to $50 as Transactions Jump 200%

Avalanche price has sunk into a correction after falling by 16% from its highest point…

September 26, 2025
  • Price Analysis

CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?

Chimpee, the project behind the hyped CHMPZ tokens, combines the best of both worlds. It…

September 26, 2025
  • Price Analysis

Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M

Ethereum price is showing signs of resilience after recent turbulence, with renewed attention on whale…

September 26, 2025
  • Price Analysis

HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?

The HYPE price outlook has gained attention after a market analyst, Ali Charts, remarked that…

September 26, 2025