The Ben coin experienced a downfall as Logo confusion rises within exchanges.
In a sudden turn of events, Ben Coin which was surging lately is now down 26% in just a couple of hours after the Ben Coin logo was updated. Recently, BitBoy Crypto AKA Ben Armstrong who owns the Ben Coin announced an update on the logo on Friday. This move impacted inversely to the Ben Coin trade as many investors just pulled off their funds from Ben Coin due to Logo confusion.
This dilemma resulted in a mass sell-off of Ben Coin as most of the investors feared getting the rug pulled by another Squid-Game-like token. Additionally, the change in the logo created confusion among the new traders (even old traders) as the old Ben Coin had a dog in its logo.
Meanwhile, The Roadmap for Ben Coin has been released which gained a lot of attention from investors. Let's see how the recent structure will help Ben Coin to rise.
On Thursday night, BitBoyCrypto came live on youtube where he and some panellists discussed the future of Ben coin and the Roadmap for it.
$BEN Coin Reveals a Bold Roadmap to Accelerate Crypto Adoption and Empower the Community. The roadmap includes four critical aspects that will drive $BEN Coin's objective to increase crypto adoption.
$BEN Coin understands the importance of raising public knowledge about cryptocurrencies. To accomplish this, the platform will launch powerful public awareness efforts aimed at demystifying digital currencies and emphasising their potential benefits. $BEN Coin wants to attract a diverse audience and promote a greater awareness of the crypto industry by utilising various media channels.
Understanding the complexity of cryptocurrencies can be a major impediment to adoption. $BEN Coin has dedicated itself to providing accessible crypto education tools in an effort to overcome this gap.
Recognising the importance of a favourable regulatory environment, $BEN Coin will work actively with governments and regulatory agencies to develop favourable legislation.
To maintain openness and integrity, the platform will build an unbiased news platform that provides its community with credible and timely information. $BEN Coin seeks to help its users to make informed decisions and traverse the crypto ecosystem with confidence by separating facts from rumours and keeping an impartial attitude.
In addition to the roadmap launch, Ben Coin is also listed on one of the biggest Crypto Exchange Bitget. On Friday, BitBoyCrypto announced the news on Twitter stating:
Here we go. $BEN now available on Bitget. First of several top 15 exchanges that are listing @bencoinnow.
Ben (BEN) is currently trading at $0.000000191771 with a 24-hour trading volume of $16,441,420. This indicates a -26.35% decrease in the last 24 hours and a 212.64% gain in the last seven days. Ben has a market valuation of $80,676,208 with a circulating supply of 420 Trillion BEN.
Ben Coin formed a Rising channel pattern on a 4-hour chart, which has now been broken, and Ben is trading to the downside. This suggests a bearish swing on Ben Coin as a result of logo confusion, which has yet to be resolved on Uniswap.
However, the price fluctuated between $0.00000025 and $0.00000021, which drew the attention of many investors, and is currently moving towards another green candle as investor confidence grows.
Furthermore, the 14-day RSI is at 56, indicating that the cryptocurrency is trading in a neutral zone. This region has traditionally experienced significant price volatility since the overbought region is a profit-taking zone, and many short-term investors simply exit the market after booking profits.
In conclusion, at first, due to some positive news, the price didn't tumble that much but still 26% down within 24 Hours. Moreover, the technical indicators are pointing towards a Bull market ahead.