Kin Price Prediction and Analysis in June 2020
We will be looking at the past price trends, developments, and market opinions for KIN so that we can issue a Kin price prediction for June 2020.
Kin was initially an ERC20 token that was created to serve as the main currency in the Kik messenger ecosystem. But later in October 2019, MediaLab acquired the Kik messenger, with the purpose of conserving Kin. The coin is now used to reward the developers that produce captivating user experiences.
Kin is currently ranked in 373rd position based on a market cap of $9,353,130, with a 24-hours trading volume of $39,569.08 worth of KIN. There are 1.5220.127.116.118 KIN coins in circulation out of a total supply of 10.000.000.000.000 KIN. The price of KIN is $0,000006 USD, with a decrease of -1.86% in the last 24 hours.
Kin Price Prediction: Analysis
During the mid-March crash, Kin plummeted to $0,000003 from $0,000005. Then, the coin followed a very long recovery, that took off in the second week of April, bringing the coin to a new resistance level of $0,000009. The following days up until April 23, Kin reached $0,000010 and traded mostly between $0,000009 and $0,000010. But after that, Kin lost its new gains and settled to previous support levels of $0,000007.
The crypto continued to trade between $0,000007 and $0,000008 for the rest of April. KIN debuted in May at a price of $0,000007. It seems that the entire month of May has drawn a consolidation pattern on the charts, as KIN is trading tightly between the range of $0.000007 and $0,000008, with a few rejections at the $0,000009 level.
On May 27th, Kin went below $0,000007, reaching $0,000006. The next day, the coin exhibited the same price movement.
The resistance, pivot, and support levels calculated by WalletInvetsor are:
- Resistance Level (R3): 0.000007
- Resistance Level (R2): 0.000007
- Resistance Level (R1): 0.000007
- Pivot Point: 0.000006
- Support Level (S1): 0.000006
- Support Level (S2): 0.000006
- Support Level (S3): 0.000006
Kin’s ecosystem, the Kik platform, revealed that they launched an ad network in order to incentivize consumers to earn Kin for viewing advertisements.
The Kin token is currently a modified version of the Stellar blockchain, but the project is currently looking to transition to Solana blockchain in the coming month.
According to their improvement proposal, the forked stellar chain had great scalability, but there were certain limitations that impeded the network from running its operations smoothly, and this prompted their migration to Solana.
Regarding the issues on the forked stellar chain, the proposal made the following statements:
“While Stellar offers most of the features needed to do basic functions like sending Kin between accounts, there is a limited amount of space for metadata on transactions.
Stellar allows up to 30 bytes of metadata (called a ‘memo’) per transaction, which is far short of what Kin needs to perform its basic functions”
Regarding the advantages of the Solana blockchain, the proposal stated the following:
“Solana solves both the latency and the feature set problems. Solana uses a Proof of History consensus model, along with a number of other novel innovations that unlock significant improvement in throughput and latency.
Additionally, Solana would allow significantly more metadata in transactions since it has a Virtual Machine implementation, offering more flexibility.”
For the migration to be executed, the Kin developers that approve of the move should be in the majority. If this consensus is reached by the majority, the move to Solana could be done in a matter of months, and the transition would be complete by Jan. 7, 2021.
The head of corporate development at Kik, Tanner Philp, stated that Kik recorded a massive increase in the number of users over the last 6 months. It was estimated that around 1.5 million users spent the KIN token at the beginning of March; however, this number shot up to 4.4 million by April 20th.
Kin Price Prediction: Market Opinion for June 2020
Since several sites have issued their own Kin price prediction, and as usual, we will be featuring some of the most relevant ones to better portray the general market sentiment for KIN.
Digitalcoinprice predicts that Kin will reach a price of $0.00001489 in June, signifying a change of 136.34%.
Coinpredictor’s KIN price prediction for June places the coin at a price of $0.000007, with an increase of +13.1% in the first week of the month. The site expects the coin to experience a decrease of – 19.2 by the end of the month, placing the coin around $0.000005.
Bitverzo’s Kin price prediction extends for all of the days in June, along with their average, minimum, and maximum values.
|Wednesday, June 3, 2020||0.000152||-0.004406||0.004686|
|Thursday, June 4, 2020||0.000153||-0.004746||0.004348|
|Friday, June 5, 2020||0.001233||-0.003459||0.005841|
|Saturday, June 6, 2020||0.000163||-0.004589||0.004420|
|Sunday, June 7, 2020||0.000161||-0.004229||0.004607|
|Monday, June 8, 2020||0.000156||-0.004196||0.004894|
|Tuesday, June 9, 2020||0.000154||-0.004371||0.004448|
|Wednesday, June 10, 2020||0.000152||-0.004426||0.004596|
|Thursday, June 11, 2020||0.000153||-0.004279||0.004639|
|Friday, June 12, 2020||0.001233||-0.003281||0.005936|
|Saturday, June 13, 2020||0.000163||-0.004191||0.004997|
|Sunday, June 14, 2020||0.000161||-0.004364||0.004856|
|Monday, June 15, 2020||0.000156||-0.004490||0.004833|
|Tuesday, June 16, 2020||0.000154||-0.004871||0.004434|
|Wednesday, June 17, 2020||0.000153||-0.004364||0.004626|
|Thursday, June 18, 2020||0.000153||-0.004386||0.004502|
|Friday, June 19, 2020||0.001233||-0.003337||0.005910|
|Saturday, June 20, 2020||0.000163||-0.004563||0.004629|
|Sunday, June 21, 2020||0.000162||-0.004404||0.004542|
|Monday, June 22, 2020||0.000156||-0.004199||0.004655|
|Tuesday, June 23, 2020||0.000155||-0.004416||0.004827|
|Wednesday, June 24, 2020||0.000153||-0.004365||0.004810|
|Thursday, June 25, 2020||0.000154||-0.004156||0.004501|
|Friday, June 26, 2020||0.001234||-0.003147||0.005739|
|Saturday, June 27, 2020||0.000163||-0.004223||0.004571|
|Sunday, June 28, 2020||0.000162||-0.004611||0.004276|
|Monday, June 29, 2020||0.000156||-0.004508||0.004698|
|Tuesday, June 30, 2020||0.000155||-0.004326||0.004199|
Cryptoground foresees that Kin will bottom to $0.0000012 in the first week of June, with a loss of -80.52%, and by the end of the month, KIN is expected to reach $0.0000012, with a drop of -80.54%
Cryptorating forecasted that KIN will be trading at around $0.000017, with a rise of 88.89% in the first week of June, and by the end of the month the coin was calculated at around $0.000010, with an increase of 11.11%.
WalletInvestor listed daily predictions for the first 8 days of June, also including the minimum and maximum of each respective day.
|Date||Price||Min Price||Max Price|
Kin Price Prediction: Verdict
With this, we have reached the end of our Kin price prediction. From what we can see on other cryptocurrency prediction sites, KIN has an indecisive trading projection because of its prolonged sideways movement, but it is expected that the coin will start a bearish period.