TomiNet has demonstrated a remarkable rise in the cryptocurrency sector, distinguishing itself as one of this week’s emerging stars. The token ranked among the top 100 cryptocurrencies in the world, reaching a market capitalization of more than 268 million dollars
.
TOMInet is an ambitious blockchain project that focuses on creating high-quality applications. Through its browser, DNS service and multichain digital wallet for tokens and NFTs, the goal is to combine the best Web2 and Web3 technologies to create a more private and secure ecosystem
.
Although the specific reason for the increase in the price of TomInet is not clear, it is possible to hypothesize that traders raised the token without a significant news base in the ecosystem. Analyzing the two-hour chart, the token broke through the key resistance level at $3.60, reaching its highest point
on September 11.
Meanwhile, the token has slightly distanced itself from the 25-period moving average, while the relative strength index (RSI) has surpassed the overbought level. This could suggest a likely withdrawal of the token, as sellers aim for critical support at 3.6 dollars, as the momentum loses steam
.
In conclusion, TOMInet has proved to be a leading player in the cryptocurrency sector, reaching new market capitalization goals. However, it is important to closely monitor the movements of the token and also consider possible retracements, given its recent momentum. This way, investors could make informed and strategic decisions
.
