Here’s why Loaded Lions surged 35% today

Loaded Lions crypto has continued its upward trend for the seventh day as the project teased a major announcement set to be revealed this week.

Loaded Lions (LION) surged 35.3% over the past day, reaching an intraday high of $0.0081 at the time of writing, while its market cap remained just shy of $187 million, approaching the $1 billion mark. The price gains came along with a jump in trading volume, which nearly doubled over the past day, hovering around $3.4 million.

The altcoin has continued its uptrend over the last nine days, rising over 250% during this period, outpacing the global bearish crypto market, which has fallen by nearly 7% in the same period.

Today’s gains came as the project teased a major announcement planned by the end of this week through an official X post on March 12. Typically, the hype created in the community from such announcements leads to increased investor interest in the related altcoin, often driving up its price as traders anticipate positive developments.

Meanwhile, many community members expect that the project could be revealing its launch on the Ethereum blockchain. If confirmed, this could significantly boost LION’s price by increasing its accessibility, enhancing its utility, and attracting more investors looking to capitalize on its expanded ecosystem.

The recent announcement comes just two weeks after Loaded Lions, Crypto.com’s flagship NFT project, officially launched its long-awaited token, LION, with an airdrop to Loaded Lions NFT holders.

Following its launch on the Cronos blockchain on March 3, the project expanded to Solana on March 6. 

The LION token is the utility token for the Loaded Lions NFT project, Crypto.com’s first platform-owned NFT profile picture project.

Holders can stake LION in on-chain vaults and Crypto.com app programs to earn rewards, perks, and benefits in Loaded Lions: Mane City. In the future, LION holders will also get governance rights to help shape the ecosystem.

At press time, LION was trending across social media in the U.S., reflecting heightened retail interest.

LION price analysis

Technical indicators indicate that LION could see more gains in the short term.

On the 1-hour/WCRO chart, LION has recently broken above the ascending parallel channel pattern it had been trading within since March 6, a break above which suggests a very dominant bullish trend supported by the strong buying pressure from traders.

The Supertrend indicator has moved below the price in the green zone, showing a bullish trend. At the same time, the Aroon Up is at 100%, while Aroon Down is at 0%, confirming strong buying pressure and a steady uptrend.

Hence, LION could continue rallying, with the next target at the key resistance level of $0.0085. If it breaks above that, it could attract more bullish interest, pushing the price toward $0.01.

Community expectations for LION in the long term range between $0.1725 and $0.20 by the end of 2025. Some even believe that a breakout above this level could push the price as high as $0.50 over the long run.

At press time, LION was exchanging hands at $0.0080 per coin.