On December 11, Bitget Token (BGB) climbed to a new all-time high, hitting $3.37 toward the $5 mark, and has gained 10.4% in the last 24 hours, showcasing a strong upward trend.

With the optimism to the growing adoption of the Bitget ecosystem and sustained investor confidence, analysts estimated BGB’s price could hit $5 in the medium term, pushing its market cap to $7 billion.

BGB Price Surges To New ATH

As traders monitor key levels, the recent rally in the BGB price to an all time high is largely attributed to breaking resistance and maintaining high trading volume to sustain its upward momentum. This breakout indicates that the market holds a bullish sentiment in the platform’s ecosystem.

The ATH has led to the next key resistance level standing around $3.40, with potential targets at $3.50 and $3.75 if broken, while support levels are observed at $3.30 and $3.20. The market data shows BGB’s rally could go even further, as RSI (~62) shows bullish momentum without the token being overbought, while the MACD suggests a slight weakening in buying pressure. Trading volume of $369 million further shows significant market interest.

Strengthening Uptrend, Is BGB The Next BNB?

The current growth trajectory, as well as the standout fundamentals of the BGB Launchpool and Bitget led many major players to rally behind the slogan “HODL, get $5 for BGB, get $10.”, suggesting growing confidence in BGB’s future performance.

Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. On November 13, Bitget’s 24-hour derivatives trading volume reached $77 billion, second only to Binance. And according to Data.ai, the Bitget app was downloaded 1.92 million times in October, ranking third globally for centralized exchange app downloads, behind only Binance and OKX. If Bitget continually expands its ecosystem (e.g., with its growing licenses and other initiatives), it could further drive demand for BGB, which means that BGB is expected to keep on rising in the short term and in the long term.

Backed by strong fundamentals and increasing adoption of the Bitget platform, the growing market engagement potentially pushes the price toward the target of $5.00 in the medium term. In the long term, if BGB had the same market cap as BNB, the price of BGB would be approximately $74.82 per token.

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