• WOO is up by 10% within the final 24 hours, one of the best performer amongst the highest 100 cryptocurrencies by market cap to this point immediately.

• The Woo Community introduced that it had burned greater than 700 million WOO tokens to this point.

• The overall crypto market cap is now near the $860 billion mark.

Woo Community burns 705 million WOO tokens

The Woo Community introduced just a few hours in the past that it had burned 705 million WOO tokens, accounting for over 24% of the whole provide. Over the primary half of 2023, WOO Community stated it will roll out a collection of enhancements to WOO tokenomics. The primary half will concentrate on addressing present points whereas making the WOO token distribution extra clear.

A brand new period for the $WOO token

As a primary step in a collection of enhancements, WOO Community has burned 705M $WOO tokens – over 24% of the whole provide.

Right here’s a breakdown of how we’re propelling $WOO right into a place of power out there (1/4)

👉https://t.co/TNHJ6fia49 pic.twitter.com/H7CcditgfO

— WOO Community (@WOOnetwork) January 10, 2023

This newest cryptocurrency information has seen WOO rally over the previous few hours. WOO is the best-performing cryptocurrency amongst the highest 100 cash and tokens by market cap immediately.

At press time, the worth of Woo Community stands at $0.1664. The rally comes because the broader continues its optimistic efficiency. The overall cryptocurrency market cap now stands at $857 billion.

Key ranges to observe

The WOO/USDT 4-hour chart is bullish, as WOO has been performing excellently over the previous few days. The technical indicators present that WOO is outperforming the broader crypto market.

The MACD line is deep inside the optimistic zone, indicating a robust bullish nature for WOO. The 14-day relative power index of 64 additionally exhibits that WOO might enter the overbought area if the rally continues.

If the bullish pattern is maintained, WOO might rally previous the $0.1788 resistance degree earlier than the top of the day. Nonetheless, it will discover it arduous to beat the second main resistance degree at $0.1953.

The bears may regain management of the market, and this might see WOO commerce beneath the $0.1527 help degree within the close to time period. 

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