The GambleFi sector continues to attract enormous attention from retail investors, with TG.Casino’s native TGC token surging 50% in the past week.
With a stellar cashback offer and huge token buyback budget, could TGC be the best gambling-focused token to buy in the crypto market right now?
Zooming into the price chart, TGC has formed an attractive technical setup in the past few days – a cup and handle pattern.
This pattern usually occurs before another upward surge, so retail investors have been clamoring to buy TGC tokens in advance.
Although TGC’s price has dipped slightly from Saturday’s high, the token is still up 50% in the past seven days.
TGC is now hovering around the $0.222 level, having rebounded from the minor support zone at $0.20.
Now, with the cup and handle pattern intact, TGC holders are gearing up for another potential pump in the coming days.
Adding to the bullish sentiment around TGC is that the token has broken above the 100-day exponential moving average (EMA) on the 1-hour time frame.
This EMA is often used as a proxy for the overall trend – so TGC’s break above has increased the positivity around the token’s near-term prospects.
At the time of writing, TGC’s fully diluted market cap has just passed $22 million, with over $153,000 in trading volume over the past day.
With TGC surging 50% in a week, it’s clear investors are increasingly excited about the long-term potential of TG.Casino’s native token.
A major catalyst is the full web version of the casino that’s expected to launch in the coming weeks.
This web version will allow for easier access and could drive significant user growth – which would be positive for TGC demand.
Beyond that, TG.Casino is instilling confidence due to the extensive industry experience of its founders.
Unlike many projects in the GambleFi space, TG.Casino is run by seasoned casino professionals with years of experience and key relationships, reassuring TGC holders that the team can execute on their lofty goals.
TGC token demand has also ramped up due to TG.Casino’s unique incentives, like 25% cashback on net losses when betting using the native token.
With perks like these and ongoing token buybacks funded by casino profits, it’s no surprise that TGC has been drawing attention from high-profile names in the space.
For example, Unknown on Twitter, a prominent crypto analyst, authored an in-depth thread on TG.Casino and its prospects.
In this thread, Unknown highlighted the fact that TG.Casino is built on Telegram as one of the main reasons he has “never been more bullish” on TGC.
As the buzz around TGC intensifies, rival token Rollbit (RLB) has slid to its lowest price in three months.
This slide indicates that investors are rotating out of Rollbit and into TGC, believing it could be the next big thing in the GambleFi space.
GambleFi remains a red-hot sector in 2024, with crypto influencer Alex Becker endorsing it as a top area of growth this year.
Becker, who has more than 930,000 followers, stated that gambling is a “cash cow” and that he believes “all GambleFi will reprice.”
With an intuitive Telegram-based platform and high staking rewards for TGC holders, TG.Casino boasts a unique value proposition that could help it make a splash in the sector.
Moreover, given that TG.Casino has already made over $1.5 million in profit, the project is growing exponentially.
Interested investors can buy TGC tokens on Uniswap, although further exchange listings are believed to be in the pipeline.
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