The BTC halving session has changed the entire scenario of the market, and the biggest shift can be seen in the meme market. One of these coins, BEFE, has been performing incredibly throughout the week post-halving session. This brings up the question: is BTC halving the only reason why BEFE is rising?
Why Is BEFE Growing?
Apart from the BTC halving event, which is the major contributing factor for BEFE’s growth, there are other reasons as to why the coin had a triumphant week. Top of the list would be the coin’s launch on the SOL blockchain, which happened on April 15, 2024. Post its launch; the team also announced BEFE’s listing on various exchange platforms that, boosted its availability. Since being available on different exchange platforms garners a variety of traders, it also increased the coin’s market value by some percentage. Apart from that, the BEFE team continuously conducts giveaways, community-building tasks, and various events that keep the users engaged and help BEFE sustain itself in the volatile market. Another major factor for the coin’s growth would be its scarcity. There are various meme coins that do perform well in the market but are available in trillions (cough! Shiba Inu cough! PEPE cough! DOGE Coin), which makes it difficult for them to reach a valuable mark in the near future. However, BEFE’s current market supply is only 100 Billion, which makes the coin scarce, increases its demand, and pushes it to reach the $0.1 mark in the near future.
BEFE’s Current Market Statistics
So, how is BEFE performing now? At the time of writing this article i.e., on April 23, 2024, BEFE’s market price is at $0.0001648, showing an increase of 8.43% in the past 24 hours. In fact, the last 24 hours have been quite great for BEFE as compared to its weekly performance, which is experiencing a dip of 25.77%. Looking at its past 24-hour performance, the coin achieved a nice peak value of $0.0001672 at 10:20 PM on April 22, 2024. However, the coin’s 24-hour trading volume took a hit of 9.80%, which indicates that maybe investors are holding onto the coin, expecting it to reach greater heights in the near future. But, the past week has not been that bad, if the pre-BTC halving performance is ignored for a while.
Post BTC-halving, BEFE saw a steady surge in its performance and has the potential to maintain the surge in the upcoming days as well. However, it is advisable to understand BEFE’s market performance, patterns, and the crypto scenario before making any investment decision.
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