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Giggle Fund breaks out after becoming a Binance Alpha token

In this post:

  • GIGGLE went vertical, trading between $87 and $96 on some decentralized markets.
  • The token started its rally after the team announced development plans and success, with over $6.5M raised.
  • GIGGLE remains risky, as its rally repeats the pattern of previous Binance ecosystem tokens like TST and BROCCOLI.

Giggle Fund (GIGGLE) extended its rally, going vertical after becoming the latest offer on Binance Alpha. GIGGLE got a boost from Changpeng “CZ” Zhao mentions, but this is the token’s biggest rally to date. 

Giggle Fund (GIGGLE), the Binance ecosystem charity token by an independent team, was the latest addition to Binance Alpha. GIGGLE started its climb on Thursday, but entered vertical price discovery on Friday, after the official Binance Alpha addition.

The recent rally reflects the overall hype for Binance products, as well as the team’s efforts to boost the token’s mindshare on social media. 

GIGGLE peaked above $86, adding 330% in the past 24 hours and 100% within a five-minute period, showing selected assets are still capable of rallying. At the same time, GIGGLE is closely watched for the team’s control over the smart contract, as well as the ability to alter the rules of minting and trading. 

GIGGLE reached its all-time peak with volumes of $49M, relatively low and closer to a meme token than a leading asset. The current rally may be spectacular, but it also invites caution for potential significant drawdowns. The token still has a relatively limited supply of 1M, leading to its high valuation.

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Giggle Fund announced expansion plans before Binance Alpha listing

Ahead of the vertical rally, Giggle Fund announced its expansion plans after the initial success with fundraising for Binance’s Giggle Academy. The token is still less than two weeks old, but the team has been busy with promotion.

Giggle Fund breaks out after becoming a Binance Alpha token
GIGGLE went vertical after its addition to Binance Alpha, following a week of price expansion on general market hype. | Source: Coingecko

To date, Giggle Fund has raised $6.39M in donations, going toward Binance’s Giggle Academy. The donations are in the form of USDT, USDC, and BNB tokens. The organization tracks both inflows and expenses transparently, relying on a 5% transaction tax, instead of selling tokens. 

The Fund claimed the token is now held by up to 10,000 wallets, growing its influence. 

Is the GIGGLE rally sustainable? 

GIGGLE is trading with a premium, going as high as $96 on some of its decentralized pairs. Other volumes come from Mexc, where the token trades at $83. 

On decentralized markets, GIGGLE has limited liquidity, with $1.4M in its largest pool. This has still allowed the top whale to cash out $300K, a relatively limited amount for an early-stage token. GIGGLE considers itself a meme token with a donation component, using similar tactics to meme marketing. 

GIGGLE has already shown its price can fall up to 70%, from over $39 to $12. The current recovery erased all losses, but also sparked skepticism about potential price manipulation. 

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The recent attention on GIGGLE comes alongside active trading for the $4 token, another ticker mentioned by Changpeng “CZ” Zhao. The meme activity recalls previous dramatic price moves by tokens like TST and BROCCOLI, all related to Zhao’s tweets. GIGGLE is also chosen by smart money wallets in the Binance ecosystem, along with other hot memes. 

One of the expectations for GIGGLE is to start trading on Aster DEX, tapping whales through dark pool trading.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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