A token’s utility generally determines its staying power, influencing its adoption and ultimately its price performance over time. This is evident in The Motley Fool Ascent’s 2024 Cryptocurrency Investor Trends Surveywhere one of the most cited reasons, given by 35% of participants, for not considering cryptocurrencies was that they simply would not know what to do with them.
However, although usefulness is key, no one can deny the influence of breaking news, public information and technological advances on the market. Social media influences crypto decisions to a large extent, since 37% of people between 18 and 34 years old and 17% of people between 35 and 64 years old admit that it influences their choices in the market.
Ethereum ($ETH), Basic Attention Token ($BAT), and Augur ($REP) are good examples of what it looks like when utility aligns with market momentum, and $CHO took a similar path recently, showing the power of these elements. joining together.
Actually, it is the combination of all the following factors that caused this token to rise 700% from February to April of this year, reaching an all-time high of $0.14:
- fusion of election.com and Vault in it election.ai ecosystem,
- BingX listing,
- the growing utility of the token throughout the Choise.ai ecosystem,
- endorsement from key influential figures in the crypto space,
- growing momentum on social media, with frequent mentions and numerous community posts highlighting the potential of $CHO.
With the recent news that Choise.ai, together with Vault, is developing a new platform, meme bankwhich aims to provide utility to meme coins, the overall usage of the $CHO token within its ecosystem is growing beyond its initial reach. This scope originally covered staking rewards, discounted rates, access to premium features and exclusive benefits across a variety of ecosystem projects, but is now expanding further.
Bringing it back to meme bankThis platform will offer global banking solutions for major meme currencies, allowing users to spend them via Mastercard or Visa cards, make seamless transactions, stake them and more. While Meme Bank adds utility for meme coin enthusiasts, it also brings value to $CHO holders by using their income to burn a portion of the tokens, creating scarcity and more value.
Additionally, with Vault preparing to launch its own $VLT token, only $CHO holders who stake their tokens will be eligible to receive $VLT, which will not be available on secondary markets.
This broad utility, coupled with existing products already powered by $CHO, and the anticipation generated by new initiatives is beginning to be reflected in the token’s performance on the charts, potentially bringing it closer to its yearly high.
$CHO technical analysis: all signs point to a positive move
With trendline support and the RSI and MACD indicators showing positive momentum, the $CHO chart indicates strong potential for an uptrend.
Trend line support: The chart shows the price holding above a key ascending trend line, indicating strong support and continued buyer interest. The descending trend line creates a narrowing wedge pattern, which often precedes a bullish breakout. With the price near $0.028, near the confluence of support levels, a bounce towards recent highs around $0.035 seems likely if momentum builds.
RSI: The RSI is currently at 48, which is just below the neutral 50 level. This positioning often indicates that the asset is neither overbought nor oversold, creating room for an upward move. Furthermore, the recent bounce from 43 shows increasing buying momentum, indicating a possible shift into bullish territory.
MACD: The MACD line (blue) is positioned very close to the signal line (orange), suggesting that a possible bullish crossover is imminent. The histogram begins to contract in its bearish phase, which often precedes the bullish price movement. This convergence of MACD lines indicates that selling pressure is weakening, setting the stage for a possible bullish breakout.
Price targets
$0.049 – A reasonable short-term target as it aligns with the recent trendline support and resistance levels.
$0.095 – A logical medium-term target, with strong bullish momentum and the RSI and MACD showing positive signs, making this price level achievable.
$0.14: The yearly high, achievable if the current bullish trend continues, driven by strong technical indicators and the growing utility of $CHO within the ecosystem.
Solid foundations behind $CHO
Although the recent announcement about Meme Bank has sparked a new wave of interest in Choise.ai and $CHO, it is the ongoing work behind the scenes that has truly built a solid foundation for the token’s growth. $CHO is not only driven by new development, but thrives on the entire ecosystem of products the team has been working hard to build, and includes the following:
- PerpeX – A decentralized perpetual trading platform serving a variety of markets including crypto, forex, metals and stocks.
- Tringlr – A hybrid SMPC-based technology, designed to provide the foundation for building the most secure crypto wallet.
- Entropy – An AI-powered Layer 2 blockchain platform, paving the way for more scalable and efficient decentralized applications.
- Vbanq – A modern digital banking platform offering multi-currency support, designed for businesses to handle crypto and fiat transactions.
- Chism – A DeFi platform that brings together seamless earning, swapping, and bridging solutions to improve user control and liquidity in the crypto space.
Expectations abound regarding future developments for Choise.ai and $CHO
Meme Bank was the last official announcement from the Choise.ai team, but community conversations are now growing on X about a possible listing of $CHO on another Tier 1 crypto exchange, adding to its existing presence on platforms such as BingX, KuCoin, MEXC. and others.
Additionally, there is growing discussion about a former Binance C-level executive, known for spearheading major marketing campaigns, joining the Choise.ai team. This move could significantly increase Choise.ai’s visibility and naturally bring $CHO into the spotlight for an even wider audience.
$CHO is on a bullish streak
This combination of expanding use cases and deflationary tokenomics positions $CHO as a strong contender for significant price growth in 2025. All of this is supported by technical indicators, continuous and ongoing developments within the Choise.ai ecosystem, the upcoming potential for new listings and the addition of a new employee, all of which could send the token back to its yearly high.
