Helium mobile price skyrocketed 1000% in a week. Why is Helium Mobile Price Up?

While popular cryptocurrencies are taking a breather after going up a lot, smaller ones are getting more attention from investors. Helium Mobile (MOBILE) has jumped in price by a big 1000% in the last seven days, reaching $0.006741. Let’s take a look at this Helium mobile price article in more detail.

The Helium Network is a special kind of wireless system that uses blockchain technology to reward people and groups for creating and running wireless networks. It relies on the Solana Blockchain and has its main token called HNT. Additionally, it uses IOT and MOBILE tokens for specific types of networks like LoRaWAN and 5G.

It is a decentralized, meaning anyone can join in and help grow the wireless network. It’s designed to be scalable (able to handle a lot) and secure, thanks to the Solana Blockchain. The network supports different uses, from IoT devices using LoRaWAN to high-speed mobile connections with 5G. People are encouraged to join and grow the network through a token system.

Right now, the Helium Network is growing fast around the world. More and more people, developers, and organizations are joining, bringing new ideas and services. As it expands, the goal seems to change how wireless communication works and make access to connectivity more available to everyone.

The MOBILE token is special because it’s the Governance token for the 5G Subnetworks. It’s earned by 5G Hotspots through both transferring data and proving they cover the wireless network.

How has the Helium mobile price moved in recent days?

As of today, the price of Helium Mobile is $0.006715, and it has seen a 53.81% increase in the last 24 hours. The total trading volume in the same period is $893,227, with a market cap of $527.23 million. Helium Mobile holds a market dominance of 0.03%.

The highest price for Helium Mobile was reached on December 17, 2023, at $0.016499, while its lowest price was recorded on May 10, 2023, at $0.000147. After reaching its all-time high, the lowest price since then was $0.004829 (cycle low), and the highest price reached since the last cycle low was $0.014301 (cycle high). The current sentiment for Helium Mobile’s price prediction is bullish, and the Fear & Greed Index is at 65, indicating a state of greed.

The circulating supply of Helium Mobile is currently 78.52 billion MOBILE out of a maximum supply of 200 billion MOBILE.

Why Is the Helium Mobile Price Rising?

Helium Mobile has recently launched a nationwide unlimited mobile service priced at $20 per month. It has gained around 8,000 subscribers so far. New users are given the opportunity to earn ‘mapping rewards’ by sharing their phone’s connection data with Helium during the onboarding process.

If users agree to share their data, a unique digital token known as a non-fungible token (NFT) is created and stored in their Helium (Solana) wallet. Holders of this NFT then receive a share of $MOBILE mapping rewards, making up 20% of all $MOBILE rewards.

To put it simply, Helium Mobile users can earn cryptocurrency rewards, represented by $MOBILE, by using an NFT that supports location tracking on their phones. These phones are equipped with a Helium cryptocurrency wallet that operates on the Solana blockchain platform.

How high will the MOBILE price go?

The current status of Helium Mobile’s price indicates a positive trend, as it is trading above the 200-day simple moving average. This suggests a sustained upward momentum in the cryptocurrency’s value. 

Additionally, over the last 30 days, there have been 19 days of positive price movements, accounting for 63% of the observed period. This pattern of predominantly green days further underscores the recent strength and bullish sentiment in Helium Mobile’s market performance.

If a memecoin called bonk can reach a market cap of 1.5 billion, even though it doesn’t serve any real purpose, then it’s reasonable to think that Helium Mobile, which has a practical use, can achieve a similar market cap. Helium Mobile has a real-world application, so it seems like it has the potential to do well in the market, just like bonk did.

According to our analysis, the technical indicators for Helium Mobile show positive signs for the coming month. The 200-day simple moving average (SMA) is expected to increase, reaching $0.001779 by January 2024. Additionally, the short-term 50-day SMA is projected to reach $0.006231 by the same date. These indicators suggest a potential upward movement in Helium Mobile’s price in the near future.

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