This time, the cryptocurrency market did not prepare for the rise of Hana – an unquestionably obscure meme coin that has shown incredibly high and speedy growth in rate within the last day. Previously untracked on popular platforms, including CMC and CC, Hana is featured at position #1190 now; however, within a day, it has increased in value by 49.14 %.
Hana, which has its token traded under the symbol HANA, is currently selling at $0.0007797 per token. Surprisingly perhaps because of its irresistibly low price per token, the token has attracted impressive market attention which is evident in its recent skyrocketing trading volume. Over the period preceding the last 24 hours, trading on Hana was recorded at $ 3.86 million, slightly up from the previous day by 5.28%.
Such amplified trading movements have seen Hana’s market capitalization increase to $6.80 million an increment of 49.14 % similar to that of the price. Which places the token’s fully diluted value at approximation at $7,800, 000 that suggests there is room for the figures to grow, if all tokens that could be minted from the existing supply are in circulation.
Even more effectively Hana is doing in terms of volume to market cap, with the value of 56.87 %. This high ratio implies that for a given amount of tokens sold on the market, one will be able to sell or buy without recourse to at a price that is going to affect the token’s price, which traders consider a boost.
In terms of token distribution, Hana boasts of a large total quantity of 8.91B HANA tokens circulating in the marketplace but with an absolute limit of 10B tokens. At the time of writing this research, the total available token supply is 10 billion tokens, but 8.72 billion tokens are in circulation. This high circulation rate may also be the reason why the token is an asset with very high price variations and easy to trade.
The reasons for such a sharp increase in interest in Hana at the moment are as follows: DEFAULT it is difficult to identify something obvious, but the members of the cryptocurrency community are actively discussing this topic. Analysts believe that the token might have gotten a boost from the steadily increasing interest in meme coins in the market—somepeopleincludepotentialcoordinatedbuyingactionsocialmediaplatformswhichhasbecome quitefrequentinthemicrocapcryptomarketplace.
However, it should be understood that such sharp price hikes in the cryptocurrency market, including in the positions of relatively unrecognized tokens, carry very large risks. Most cryptocurrencies are unstable, and an asset that is on the rise can plummet as quickly as it rose.
Potential investors and traders in this stock should take due precautions against Hana and undertake their research properly before investing. Another disadvantage of this token, whose absence further contributes to risk in any investment, is the information regarding the project, use case, or development team.
Some of the areas of concern are; Like most new generation coins, there is no clear direction of the currency in the long run. The crypto community will be waiting to hear whether this token will sustain this run or whether this is just another flash in the pan.
In the broader context of the cryptocurrency market, Hana’s dramatic rise serves as a reminder of the sector’s unpredictable nature. This informs of the high possibilities of making good profits within short spans, but on the same note, the potential of disastrous losses when investing in such flapping digital currencies.
In essence, tokens such as Hana can be successful in the context of a growing crypto market for both investors and those concerned about the substantial risks involved in trading cryptocurrencies. Some are going to find such high volatility as an opportunity to make fast bucks, but others are going to approach this concern with a pinch of salt and only adopt a rational approach to investment in cryptocurrencies.
