US Dollar Stimulus Sparks Sky Price Surge: Sky (SKY) Emerges Top Gainer with a 13% Increase Post USDS Rewards Launch; Traders Rush Toward a Novel Cryptocurrency Trading Bot ICO
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The cryptocurrency Sky (SKY) is currently riding high, surging 13% in the last 24 hours to trade at $0.07463 as of 3:41 a.m. EST, with trading volume surging a whopping 12% to hit $9.9 million.
This impressive rise has propelled Sky to the top spot on CoinMarketCap's list of biggest gainers.
The surge in SKY's price was triggered by an announcement by Sky on their official Twitter that SKY stakers can now earn USDS rewards based on protocol performance and retain governance voting rights.
Looking Ahead: Sky's Bullish Trend Could Continue
The daily SKY price chart shows a clear rising trend channel that's been in play since mid-March 2025. Sky has been adhering to this channel, forming higher highs and higher lows, indicating a bullish structure.
Recently, Sky's price dipped below the midline of the channel but found strong support at a previously established demand zone around $0.065. This support level also coincides with the 50-day and 200-day Simple Moving Averages.
After rebounding from that key support zone, Sky's price shot up, reclaiming the 50-day SMA and currently trading near the upper region of the channel.
However, Sky's price action has once again entered a significant resistance zone just under $0.080, a level that previously led to a sharp rejection in early May and also in December 2024. This could indicate that sellers might still be present in this area.
Currently, the Relative Strength Index (RSI) stands at 59.61, which is in neutral-to-bullish territory. This suggests that there's still room for further upside before Sky enters overbought conditions (above 70).
If Sky can decisively break and hold above the $0.080 resistance zone, the next target could be around $0.090, which corresponds to the upper boundary of the ascending channel.
On the flip side, if Sky fails to break this resistance and gets rejected again, it may revisit the lower channel boundary and key support around $0.065 and potentially drop further to $0.055.
Investors Turning Heads Towards Snorter Token
Meanwhile, investors are showing a growing interest in a new ICO called Snorter Token (SNORT). According to 99Bitcoins, a popular YouTube channel with over 723K subscribers, SNORT could skyrocket 10X on launch.
Snorter, a new Solana-based meme trading bot powered by Telegram, has made a splash in the crypto scene in just a week since its presale went live. The project has managed to raise over $386K.
Unlike browser-based tools, Snorter operates directly within Telegram, allowing users to perform sub-second swaps, automate sniping, and track portfolios in real time.
Snorter Bot is entering a space where most users tend to favor Trojan and BonkBot, two bots that have gained prominence on the Solana blockchain for their affordable fees and secure transactions, according to Dune.
Snorter Bot also beats the competition in terms of fees. By merely holding the SNORT token, traders can reduce their execution fees from 1.5% to 0.85%, significantly less than other Telegram bots.
In addition to its trading features, staking rewards currently stand at 820%, which decrease as more investors join the ICO. The presale is now live, and the token can be purchased with SOL, ETH, BNB, or bank card, and staked directly on the official site.
Interested investors would be wise to buy before the next presale price hike in about 2 days.
- The surge in Sky's price, driven by its staking rewards announcement, has attracted the attention of investors in the realm of crypto trading and finance, highlighting the growing interest in technology-based investments.
- As Snorter Token enters the crypto market with its unique meme trading bot on Telegram, it has caught the eye of both investors and traders in the finance and entertainment sectors, signifying a potential shift in the cryptocurrency trading landscape.
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