The SEI price has ballooned by 40% in the past 24 hours, with its jump to $0.2774 coming after the US announced a ceasefire between Iran and Israel.
This big move puts SEI up by 65% in the past week and by 28% in the past month, with the altcoin – the 70th-biggest in the market – gaining plenty of traction prior to the US bombing of Iran over the weekend.
SEI has gradually been building momentum over the past few months, with the coin’s network having grown its TVL by 159% since the start of the year, and by nearly 1,200% in 12 months.
This makes it one of the fastest-growing layer ones in the ecosystem, and if the global economy and geopolitical situation can become more stable, SEI is on track to hit new record highs later in the year.
Probably the most bullish thing about SEI right now is that it’s still in an undervalued position, given that it remains 75% down from its ATH of $1.14, set back in March of last year.
As such, we can expect it to continue rising in the near term, with its chart today signalling some big momentum and buying pressure.
For instance, its RSI (purple) has just topped 70, a sign of a coin in the ascendancy.
And what’s particularly encouraging is that SEI’s MACD (orange, blue) has only just flipped bullish, again indicating that it’s still some way from being overbought.
Also positive is the coin’s trading volume, which at $850 million today has risen by just over 2,000% in a month, and by 865% in a week.
This is a clear sign of a very hot meme token, and now may be a good time to buy the token before it overheats.
Indeed, given the shaky nature of the apparent ceasefire between Iran and Israel, it may not be too long before SEI suffers another dip.
But in the longer term, the Sei price should continue climbing upwards, especially given Sei’s growing stature as a layer-one blockchain network.
The platform recently became the second-biggest Ethereum-compatible chain (after Base) in terms of users.
The past few weeks have also witnessed the emergence of the first filings for an SEI ETF, a sign that institutions are becoming increasingly interested in the token.
Because of this, the SEI price should return to $0.30 in a few weeks, before hitting $0.40 by August.
SEI is one of the top-100 altcoins to watch over the next few months, but it certainly isn’t the only new token that’s showing lots of potential at the moment.
There are also numerous presale coins in the market that are looking good right now, with one of the most interesting being Snorter (SNORT), an Ethereum- and Solana-based trading bot.
It has raised $1.2 million in the ongoing presale for its SNORT token, with investors becoming increasingly excited by its plans to launch an automated sniping bot.
As a sniping bot, it enables users to buy up new tokens just as they hit the market, and before they begin to rally, beating other traders to the punch.
It can therefore help investors to maximize their returns, with other features including copy trading, limit orders, atomic swaps, and rugpull protection.
It’s therefore shaping up to be one of the most effective and powerful trading bots out there, with its existence on both Solana and (later) Ethereum giving it a wide reach.
Investors can buy its native token SNORT early by going to the project’s official website, with SNORT also open to staking.
The coin will have a max supply of 500 million SNORT, and is currently available at $0.0961.
This will rise tomorrow, so traders should act sooner rather than later if they want to lock in the biggest possible gains.
