PERPS Price Jumps 49.9% to $0.003377 as Supply Burns 2% in Ten Days With Market Cap Under $3M

News, Trending

  • PERPS price rose 49.9% in seven days, trading between $0.002404 support and $0.003885 resistance.
  • The token removed over 2% of its supply in ten days through daily buybacks funded by 93% of revenue.
  • PERPS market capitalization remains under $3 million despite rising volume and cross-chain integrations on 16 networks.

PERPS, a utility token operating on Base, posted a strong price rally this week. The token climbed almost 49.9% in seven days, reaching $0.003377 at press time. This upward move placed PERPS within a tight trading range between $0.002404 support and $0.003885 resistance. Trading volume also increased, suggesting heightened market activity as the token tested key levels.

Source: (X)

The token’s supply structure has drawn attention. Notably, more than 2% of the circulating supply has been removed within a short period. This reduction resulted from the platform’s mechanism that reinvests 93% of collected revenue back into the token. That allocation supports daily buybacks, leading to consistent supply burns. The impact has become evident, with approximately 2% removed from circulation in only ten days.

Market Capitalization and Utility Base

Despite the recent rally, the market capitalization remains below $3 million. This figure reflects a relatively modest valuation compared with the activity level. The platform extends across 16 different chains and integrates with external services such as Orderly and Cookie3. 

These connections provide infrastructure for smooth trading operations, while additional features such as staking remain available. However, the market continues to track price performance closely within established support and resistance zones.

PERPS Maintains Strength Above Support as Buyers Target Key Resistance Zone

Over the past week, PERPS gained momentum from its 42-bar, seven-day trading stretch, showing volume levels above 1.32 million. This period highlighted accumulation before the breakout move above the descending trendline. Current data shows PERPS holding near $3.58 million in volume, marking a 2.64% gain within the latest session. However, resistance at $0.003885 remains a ceiling that traders are monitoring. 

With strong buying pressure, the token has sustained levels above its support floor, keeping the price action within a defined technical channel. PERPS shows strong momentum with rising volume, reduced supply, and active utility expansion. Sustaining support while challenging resistance will be key for continued growth and broader market recognition.

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