Recently, the demand for Zora coin has surged, taking over 92.5% of the creator market, surpassing Pump.fun.
The popularity of this creator chain has been increasing recently.
Zora Overtakes Pump.fun
Over the past 48 hours, more than 100,000 tokens have been created on Zora. On July 27th, 54,009 coins were issued, and the next day, an additional 51,000 coins were created. This increase in token creation demonstrates growing adoption and interest in Zora, putting it ahead of competitors like Pump.fun.
The surge in token creation shows that creators are increasingly choosing Zora. Along with market dominance, these changes suggest that Zora can continue to grow in the creator space.
Token Technical Analysis and Market Update: Want more such token insights? Subscribe to the daily crypto newsletter here.
According to Dune's data, Zora currently dominates 92.5% of the creator market. This is a significant leap from two weeks ago when Pump.fun held 88%.
This rapid market shift demonstrates Zora's appeal in quickly attracting creators looking for better alternatives. Zora's dominance indicates that Pump.fun now only occupies 7.5% of the market.
Will ZORA's Price Continue Its All-Time High March?
Zora has been showing an upward trend over the past 10 days, recently reaching a new all-time high (ATH) of $0.105. Currently trading at $0.081, it is just below the $0.085 resistance level. This recent upward trend has sparked optimism among investors, suggesting Zora has potential for further appreciation.
Considering today's 7% altcoin increase, there's a high likelihood that Zora could break past its $0.105 ATH and reach a new high above $0.140. The strong momentum indicates the upward trend could continue if current market conditions persist.
However, if investor sentiment changes and selling pressure intensifies, Zora's price could drop below $0.052. A significant decline below this support level could invalidate the current bullish outlook, suggesting the coin's value might decline long-term.
