Chainlink’s LINK Token Skyrockets with a Whopping 35% Surge in Recent Rally!

"LINK Token Shows Signs of Revival with 43% Growth in October 2023, Despite Trading Down from All-Time High"

Chainlink (LINK), the cryptocurrency that began with an ICO price of $0.11, recently reached its all-time high of $52.88 on May 9, 2021. Although it is currently trading around $12, down almost 78% from its peak, the token has shown signs of a potential revival, with a significant growth of 43% in October 2023 alone.

This recent surge in growth for LINK suggests that an ascending triangle pattern on the hourly chart could indicate a potential price breakout. Despite experiencing a 5% drop the following day, the token quickly regained momentum and surpassed the $10 mark.

Currently, there is a circulating supply of $556.8 million worth of LINK, with a fully diluted market cap of $10.8 billion. The growing interest in Chainlink is also evident in Google Trends data, which suggests a sustained potential for future growth. However, reaching the investor target of $50 would require a fivefold increase from its current value, a goal that may take years to achieve given the current market conditions.

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Martin Reid

Martin Reid

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