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LimeWire remains very bullish as trading volume skyrockets

limewire-remains-very-bullish-as-trading-volume-skyrockets
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Markets
LimeWire remains very bullish as trading volume skyrockets

The Algorand-based AI-powered content publishing platform LimeWire is back on trends with its native utility token, LMWR, reaching its 25-week high. 

LMWR is up by 85% in the past 24 hours and is trading at $0.36 at the time of writing — last seen in mid-May this year. The asset’s market cap has reached $16.35 million. 24-hour trading volume rose by 490%, surpassing the $6.9 million mark. 

LimeWire remains very bullish as trading volume skyrockets - 1
LMWR price – Nov. 7 | Source: Santiment

The asset touched a local top of $0.47 briefly at around 03:00 UTC earlier today. At the current price point, LimeWire is up by 462% from its all-time low of $0.05 in mid-August and still down by 83% from its all-time high of $1.92 in mid-May when the token launched.

Moreover, data provided by Investors Observer shows that the resistance point for LMWR is set at around $0.16, with the expectations of a further plunge if the asset closes down to the $0.13 mark. 

However, per Investors Observer, LimeWire remains “very bullish” as the asset surpassed the $0.30 price point. 

According to an X post by the crypto screener DYOR.net, LMWR became the top USDT trading pair on KuCoin on Nov. 6.