ENS Coin’s price continues to surge following a positive tweet from Ethereum’s founder, Vitalik Buterin. The coin, which simplifies complex wallet addresses into domain-like names through Ethereum Name Service (ENS), has seen a significant increase in interest and volume, particularly among Turkish crypto investors.
Previously, an airdrop event had sparked a massive interest in ENS, with four-digit domain NFTs being highly sought after. Now, with Buterin’s explicit support, ENS Coin is gearing up for a potential new bull run, suggesting a bright future for the service within the Ethereum ecosystem.
Despite a recent dip in price during a Bitcoin downturn, where ENS Coin dropped to $8 support, it quickly rebounded to $14.9 following Buterin’s tweet. Investors who capitalized on the dip and sold near $15 achieved an impressive 85% gain in just a few hours.
Currently, ENS Coin maintains its upward trajectory, with the price climbing to $16.38 and holding $14.92 as a short-term support. Positive trends in Bitcoin’s price add to the optimism, suggesting that if current conditions persist, ENS Coin could aim for new highs.
Technical analysis indicates that if ENS Coin bulls can secure closes above the key $18.36 level on the weekly chart, the coin has the potential to reach $20.5 and possibly $27.63.