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Is RIZO crypto still a buy after 1,167% gains in under two days?

2min Read

More gains are likely, but it is uncertain whether those gains can be as explosive in size or speed.

RIZO Crypto Surges 830% in 20 Hours Before Pulling Back

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  • Investors and traders are drawn to small-cap tokens on the Solana network.
  • The bullish sentiment helps tiny tokens gain nearly 1000% in a day as participants are eager to buy the next 100x.

HahaYes [RIZO] crypto saw an 830% rally in 20 hours on the 17th of November. Since then, RIZO the hedgehog meme coin has seen a 61% pullback in 12 hours. As a token with a market capitalization of only $27 million, wild volatility is natural.

Solana Transaction Activity

Source: The Block

The surge in meme coin-related activity on the Solana network was evident from its rising transaction activity. The 7-day moving average has shown a steady uptrend since early September.

Bitcoin’s [BTC] breakout past the previous all-time high in early November inspired more bullish confidence in the crypto sphere.

Solana Active Addresses

Source: The Block

The surging meme coin activity saw new addresses created. Like the gold rush events from the 19th century, traders and market participants are drawn to the allure of small cap coins on the Solana network and the possibility of making a 10x or even a 100x.

One of the most famous and most recent examples are Peanut the Squirrel [PNUT] which was at a market capitalization of $1.6 billion at press time.

Can RIZO crypto replicate these enormous gains?

RIZO 1-hour Chart

Source: RIZO/USD on CoinMarketCap

The 1-hour chart of RIZO has a bearish market structure, and the Awesome Oscillator showed  downward momentum was strengthening. Yet, the bearish bias is only short-term.

The Fibonacci retracement levels showed that the $0.171 (market price multiplied by 1,000,000 for legibility) is a support level.


Is your portfolio green? Check the RIZO Profit Calculator


Its retest would present a buying opportunity. The swift price spike in recent days showed the market’s hand and outlined conviction in the token.

More gains are likely, but it is uncertain whether those gains can be as explosive in size or speed.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

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Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis. In fact, Akashnath has a particular interest in reading price charts and predicting how an asset will move over the short and long term. A self-taught trader and as someone who holds cryptos himself, he is always on the lookout for the next opportunity he can possibly capitalize on, while also educating his audience.
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