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Render (RNDR), the token associated with the distributed GPU network, has seen significant gains in the last 24 hours. Despite this surge, larger investors, commonly known as whales, have not significantly contributed to the uptrend.
Retail Investors Step Up
Retail investors have been actively buying RNDR tokens. Addresses holding between 100,000 and 1 million RNDR tokens have increased their balances by 14.6%. Additionally, smaller holders, with 1 to 10 tokens, have boosted their balances by approximately 10.8%. This increase in retail investor activity suggests a growing confidence in RNDR’s potential.
Surge in Network Activity
The Render network has also seen a rise in activity, supporting the positive outlook. In the last seven days, the number of active addresses has increased by 13.37%. Active addresses, which represent unique users conducting successful transactions, indicate a healthy and engaged network.
RNDR Price Forecast: Eyeing $9.20?
Currently, RNDR is trading at $8.15, marking an 4.04% increase over the past 24 hours. Despite this price rise, the Market Value to Realized Value (MVRV) Ratio shows many holders still have unrealized losses. The 30-day MVRV Ratio is at -20.57%, indicating that RNDR is in a favorable position for accumulation, which could lead to a rally.
Historically, similar MVRV levels have preceded significant price increases. If the current trend continues, RNDR could reach $8.58 in the short term and potentially hit $9.45 in a bullish scenario. However, this optimistic outlook could be undermined if whales resume heavy selling or if buying interest declines, potentially leading to a price drop to $6.86.
MAGA VP ($MVP): A Token to Watch
Another token is gaining attention in the politifi space — MAGA VP ($MVP). As the first vice president token in crypto, $MVP is set to make significant strides as the election season approaches, particularly given the importance of the upcoming vice presidential selection.
With a CERTIK audit confirming its security, $MVP is receiving support from media and Key Opinion Leaders (KOLs). The token’s strategy of expanding its ecosystem and rewarding holders in $TRUMP tokens positions it uniquely within the politifi landscape.
In addition to technical and market developments, $MVP is preparing for extensive campaigns across U.S. red states, aiming to strengthen its presence and support for the MAGA movement. As RNDR continues its upward trajectory, keeping an eye on $MVP’s strategic developments could provide valuable opportunities for investors interested in the politifi space.
