Previous article WOO rallies by 10% as the Woo Network burns 700 million of its total token supply Next article Home Latest Cryptocurrency News WOO rallies by 10% as the Woo Network burns 700 million of its total token supply WOO rallies by 10% as the Woo Network burns 700 million of its total token supply By Hassan Maishera - min read 11 January 2023 WOO is up by 10% in the last 24 hours, the best performer amongst the top 100 cryptocurrencies by market cap so far today. The Woo Network announced that it had burned more than 700 million WOO tokens so far. The total crypto market cap is now close to the $860 billion mark. Woo Network burns 705 million WOO tokens The Woo Network announced a few hours ago that it had burned 705 million WOO tokens, accounting for over 24% of the total supply. Over the first half of 2023, WOO Network said it would roll out a series of improvements to WOO tokenomics. The first part will focus on addressing existing issues while making the WOO token distribution more transparent. A new era for the $WOO token As a first step in a series of improvements, WOO Network has burned 705M $WOO tokens – over 24% of the total supply. Here’s a breakdown of how we are propelling $WOO into a position of strength in the market (1/4) 👉https://t.co/TNHJ6fia49 pic.twitter.com/H7CcditgfO — WOO Network (@WOOnetwork) January 10, 2023 This latest cryptocurrency news has seen WOO rally over the last few hours. WOO is the best-performing cryptocurrency amongst the top 100 coins and tokens by market cap today. At press time, the price of Woo Network stands at $0.1664. The rally comes as the broader continues its positive performance. The total cryptocurrency market cap now stands at $857 billion. Key levels to watch The WOO/USDT 4-hour chart is bullish, as WOO has been performing excellently over the last few days. The technical indicators show that WOO is outperforming the broader crypto market. WOO/USDT Chart By TradingView The MACD line is deep within the positive zone, indicating a strong bullish nature for WOO. The 14-day relative strength index of 64 also shows that WOO could enter the overbought region if the rally continues. If the bullish trend is maintained, WOO could rally past the $0.1788 resistance level before the end of the day. However, it would find it hard to overcome the second major resistance level at $0.1953. The bears might regain control of the market, and this could see WOO trade below the $0.1527 support level in the near term. Where to buy Woo Network now KuCoin KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally. Buy WOO with KuCoin today Huobi Start Your Cryptocurrency Journey Today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital asset. Buy WOO with Huobi today Share this article Categories Analysis