We will examine the fundamentals that could pump this token then we will get into the chart analysis.
First let's look at revenue. Yearly revenue far exceeds current marketcap.
21 Revenue - $0.89B
22 Revenue - $0.88B
23 Revenue - $1.04B
Current Market cap - $413 M or ($0.41B).
This shows that strictly based on market cap vs revenue, RLB token is undervalued by over 50%.
This does not even include the incredible tokenomics with their buy & burn system. So far almost 50% of their tokens have been burned. Therefore, once demand reaches a diminishing supply the increase in value will be massive.
Just this year, 156.7M tokens have been burned which is 3.14% of the total supply.
Now, lets add the technicals to this analysis. First off, we can see based on the price chart that we are starting to form a rounding bottom with strong buying pressure holding the $0.10 level. Looking back on this chart in the future it will be pretty clear that this was the formation before a hockey stick to the upside.
The RSI also shows us the buying momentum continues to grow on the daily. Even with price action remaining relatively flat our RSI has maintained a continued uptrend. This is represented by our yellow line. Therefore, buying strength + strong fundamentals = strong bull case for RLB.
First let's look at revenue. Yearly revenue far exceeds current marketcap.
21 Revenue - $0.89B
22 Revenue - $0.88B
23 Revenue - $1.04B
Current Market cap - $413 M or ($0.41B).
This shows that strictly based on market cap vs revenue, RLB token is undervalued by over 50%.
This does not even include the incredible tokenomics with their buy & burn system. So far almost 50% of their tokens have been burned. Therefore, once demand reaches a diminishing supply the increase in value will be massive.
Just this year, 156.7M tokens have been burned which is 3.14% of the total supply.
Now, lets add the technicals to this analysis. First off, we can see based on the price chart that we are starting to form a rounding bottom with strong buying pressure holding the $0.10 level. Looking back on this chart in the future it will be pretty clear that this was the formation before a hockey stick to the upside.
The RSI also shows us the buying momentum continues to grow on the daily. Even with price action remaining relatively flat our RSI has maintained a continued uptrend. This is represented by our yellow line. Therefore, buying strength + strong fundamentals = strong bull case for RLB.