Zora has recently experienced a surge in demand, overtaking Pump.fun and now capturing an impressive 92.5% of the creator market.
The rise in popularity of this creator chain comes as no surprise, given its rapid growth and increasing interest within the cryptocurrency space.
Zora Outshined Pump.fun
In the past 48 hours alone, Zora has seen the creation of over 100,000 tokens, signaling a strong uptick in demand. On July 27, 54,009 coins were minted, followed by another 51,000 coins the following day. This increase in token creation highlights the growing adoption and interest in Zora, pushing the platform ahead of competitors like Pump.fun.
The surge in token creation shows that creators are increasingly choosing Zora for their projects. This shift, coupled with its market dominance, suggests that Zora could continue its rise in the creator space in the coming days.
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According to data from Dune, Zora currently dominates 92.5% of the creator market, a significant leap from just two weeks ago when Pump.fun controlled 88%.
This rapid market shift demonstrates the rising appeal of Zora, which has quickly captured the attention of creators looking for better alternatives. Zora’s dominance indicates a sudden shift in the dynamics, as pump.fun now controls only 7.5% of the market.
Can ZORA Price Continue Its ATH Run?
Zora has been rallying for the past ten days, recently reaching a new all-time high (ATH) of $0.105. Currently, Zora is trading at $0.081, just below the resistance of $0.085. This recent rally has sparked optimism among investors, positioning Zora for potential further gains.
Given the altcoin’s 7% increase today, there’s a high probability that Zora will surpass its ATH of $0.105, potentially reaching new highs beyond $0.140 this week. The strong momentum indicates that the bullish trend could continue if the current market conditions hold.
However, if investor sentiment shifts and selling pressure intensifies, Zora’s price could dip below $0.052. A significant drop through this support level would invalidate the current bullish outlook. This could signal a longer-term decline in the coin’s value.
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