How Google helped the price of Skale (SKL) soar by 51%

$SKL This week, the price of Skale (SKL) surged by 51% in 24 hours. This increase was driven by speculation about potential partnerships.

There are rumors that Skale may collaborate with Google, as the company's founder was spotted at Google’s office. Additionally, whale activity has influenced the rise in SKL's price.

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Skale whales are optimistic:

Whales are increasingly confident in Skale. Addresses holding between 100 million and 1 billion SKL tokens have acquired over 200 million tokens in the last 24 hours.

A purchase of over $8.6 million underscores their confidence in the altcoin's future. When large holders increase their positions, it often leads to a price increase. Smaller investors also start to follow their example, further strengthening the optimistic outlook for Skale.

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The growth of the Skale network demonstrates an impressive increase, reaching nearly a three-year high. The metric tracks the rate of new addresses appearing on the network. In the last two days, their number has increased by 1,171%, from 45 to 572. Today, the rate has slowed slightly, but the sharp rise in new addresses indicates that investor interest in Skale is growing. The increase in the number of active participants in the network confirms that the token is becoming increasingly popular in the market.

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The price of SKL is facing resistance:

The price of Skale has shown an impressive increase of 51% over the last 24 hours and 118% this week. The price dynamics reflect the excitement of investors, although recent volatility has made the trend more unpredictable.

The price of SKL is facing resistance at the level of $0.049.

If investor confidence remains high and there is no selling pressure, Skale could break through this resistance.

A successful breakout could push the altcoin up to $0.050 or higher. However, if selling pressure increases and investors start to take profits, SKL could drop below $0.038. In that case, the price risks falling to $0.029, which would negate the bullish forecast and undo recent gains.