RLB - Showing signs of strength
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.
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