Alien Base crypto soars nearly 60% in 24 hours – Analyzing the sudden jump

• Alien Base crypto surged nearly 60% in 24 hours. 
• The altcoin is less than a month old but has over 80K users.

Alien Base [ALB] was one of the new and best-performing assets on 28 October. The platform is a new decentralized exchange on Base for trading memecoins and is less than a month old.

It is the equivalent of Solana’s [SOL] Raydium or Jupiter, purely for degenerate speculation. 

The platform’s native token, ALB, rose nearly 60% in the past 24 hours and was available on Alien Base and Uniswap [UNI], among other platforms. 

Source: Coingecko

Its volume surged by over 200%, underscoring the level of speculative interest in the new token. It pumped from below $200K to nearly $600K in just a few hours. 

Alien Base crypto price action

Source: ALB/USD, TradingView

On the price charts, the altcoin mooned nearly 100% over the past three days and was valued at $0.13 at press time. If the explosive market interest continued, ALB could eye $0.15 or $0.17 in the short term. 

However, ALB could witness volatile price swings as Bitcoin [BTC]

In the case of an extreme downswing, ALB could retrace its recent gains and push toward $0.08 or $0.07. 

That said, Gecko Terminal revealed that despite being only a month old, ALB token users had surged to nearly 84K users.

Source: Gecko Terminal

However, about 75% of the current supply was held by the top 10 addresses, making it highly concentrated to a few users, which could significantly impact the market direction for ALB. This could heighten its risk exposure besides being a new token. 

Hence, tracking macro updates and the top addresses with the highest supply could help inform the next price direction for ALB.