Rollbit Coin Price Prediction With RLB Token Burn – Channel Breakout Next?
The Rollbit Coin (RLB) price dipped to just under $0.12 today alongside the wider crypto market decline, with Bitcoin in the red today.
With a current market capitalization of $335 million, RLB is in the green over the past 30 days – up 7% – and stands out in the GambleFi sphere, ranked the largest gambling related crypto token on CoinMarketCap.
Diverging from conventional crypto launches, Rollbit eschewed an Initial Coin Offering in favor of directly allocating RLB to the patrons of its Rollbit.com platform, where the coin is deeply integrated into a distinctive lottery, casino and leverage trading platform.
Rollbit Coin Migration to Ethereum: Key Deadline ApproachesRollbit Coin’s shift from Solana to Ethereum last June is approaching a critical milestone.
By May 1st, 2024, all Rollbit Coin (RLB) holders must migrate their tokens to the Ethereum blockchain. With approximately 2 days left, any remaining tokens on Solana risk being burned.
As a quick reminder, the cutoff date to migrate your $RLB from Solana to Ethereum is May 1st!
All Rollbit Coins on Solana after May 1st will be burned!
Learn more about the migration:https://t.co/sNwbLIfxOs pic.twitter.com/sqUodW2Qy3
— Rollbit (@rollbitcom) April 17, 2024
This migration underscores Rollbit’s strategy to leverage Ethereum’s superior scalability and interoperability capabilities within the DeFi ecosystem. The move is expected to enhance the token’s functionality and support the project’s growth ambitions.
Post-migration, the reduced token supply on Ethereum could potentially increase RLB’s scarcity and value.
- Final migration deadline: May 1st, 2024
- Unmigrated tokens on Solana will be burned
- Migration aims for greater scalability and DeFi integration
Rollbit offers users profit-sharing from the platform’s casino operations and simultaneously enhances RLB’s scarcity by consistently retiring half of the staking fees.
Given Rollbit Coin’s current circulation of 3.29 billion tokens, the combination of practical utility within its ecosystem and a deliberate burn of the token supply positions RLB for a potentially positive market trajectory.
Rollbit recently celebrated a major achievement with the launch of the RLB Dashboard, 36 weeks post-launch. The latest update from Rollbit reveals a substantial burn of 18,572,172 RLB tokens, an expenditure amounting to $1,941,562.
It's been 36 weeks since the introduction of the RLB Dashboard!
Last week Rollbot bought & burned 18,572,172 $RLB at a cost of $1,941,562, lowering the circulating supply by ~0.667%.
The circulating supply is currently 2,765,500,509 coins. https://t.co/spP4aF7BTQ pic.twitter.com/iRtMLTRovz
— Rollbit (@rollbitcom) April 16, 2024
This action reduced the circulating supply by approximately 0.667%, illustrating Rollbit’s strategic approach to enhance token scarcity and potential value.
- Recent burn involved 18.57 million RLB tokens costing over $1.9 million.
- Reduction aims to increase token scarcity and drive up value.
- Consistent token burns demonstrate Rollbit’s commitment to managing supply and supporting the coin’s market dynamics.
In today’s trading session, the Rollbit Coin price chart on the 4-hour timefame chart shows RLB below the pivotal $0.122 level, suggesting a potential short term bearish trend.
Anothe resistance levels lies at $0.131, with support at at $0.105 if the downtrend continues.
Rollbit price chart via Tradingview
The Relative Strength Index (RSI) stands at 34, edging towards oversold territory, which could tempt buyers to step in. The 50-Day Exponential Moving Average (EMA), now at $0.124, adds to the bearish narrative however.
Conclusion: RLB shows a bearish bias as long as it remains below $0.122. A push above this level could signal a shift to bullish conditions. Keep an eye on these levels and indicators to gauge the Rollbit price’s next move.
One newer low marketcap alternative to Rollbit Coin with a similar use case is Mega Dice (DICE).
Mega Dice Launches PresaleMega Dice is an online casino with a wide range of over 4500 games – including slots, live casino tables, and interactive game shows – and the added versatility of cryptocurrency transactions. This integration is bolstered by blockchain technology, ensuring secure and swift financial operations across the platform.
Mega Dice is actively conducting a presale for its new Solana-based native token, $DICE, providing early participants with revenue sharing perks and establishing a foundation for its broad utility across the platform.