The utility of a token usually 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 Survey, where one of the most-cited reasons, given by 35% of participants, for not considering cryptocurrency was that they simply wouldn’t know what to do with it.
However, even though utility is key, no one can deny the influence of breaking news, public information, and technological developments on the market. Social media influences crypto decisions to a great extent, with 37% of those aged 18-34 and 17% of those aged 35-64 admitting it shapes 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, with $CHO taking a similar path recently, showcasing the power of these elements coming together.
It’s actually the combination of all of the following factors that drove this token up by 700% from February to April this year, reaching an all-time high of $0.14:
- merge of Choise.com and Vault into the Choise.ai ecosystem,
- BingX listing,
- token’s growing utility across the Choise.ai ecosystem,
- endorsements from key influential figures in the crypto space,
- the growing momentum on social media, with frequent mentions and numerous community posts highlighting $CHO’s potential.
With the recent news that Choise.ai, along with Vault, is developing a new platform, Meme Bank, which aims to provide meme coins with utility, the overall usage of the $CHO token within its ecosystem is growing beyond its initial scope. This scope originally covered staking rewards, discounted fees, access to premium features, exclusive perks across a variety of ecosystem projects, but now, it’s expanding further.
Bringing it back to Meme Bank, this platform will offer global banking solutions for top meme coins, allowing users to spend them via Mastercard or Visa cards, make seamless transactions, put them on staking, and more. While Meme Bank adds utility for meme coin enthusiasts, it also brings value to $CHO holders by using its revenue to burn a portion of the tokens, creating scarcity and more value.
Moreover, 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 the secondary markets.
This broad utility, coupled with the existing products already powered by $CHO, and anticipation building about new initiatives is starting 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 positive movement
With trend line support and RSI and MACD indicators showing positive momentum, the $CHO chart indicates a strong potential for an upward trend.
Trend line support: The chart shows the price holding above a key ascending trendline, signaling strong support and consistent buyer interest. The descending trendline creates a narrowing wedge pattern, which often precedes a bullish breakout. With the price near $0.028, close to the confluence of support levels, a rebound toward recent highs around $0.035 appears likely if momentum builds.
RSI: The RSI is currently sitting at 48, which is just shy of the neutral 50 level. This positioning often signals that the asset is neither overbought nor oversold, creating room for upward movement. Additionally, the recent bounce from 43 shows growing buying momentum, indicating a potential shift toward bullish territory.
MACD: The MACD line (blue) is positioned very close to the signal line (orange), suggesting a possible bullish crossover is imminent. The histogram is beginning to shrink in its bearish phase, which often precedes upward price movement. This convergence of MACD lines indicates that selling pressure is weakening, setting the stage for a potential bullish breakout.
Price targets
$0.049 – A reasonable short-term target, as it aligns with the recent trend line support and resistance levels.
$0.095 – A logical mid-term target, with strong upward momentum and the RSI and MACD showing positive signs, making this price level attainable.
$0.14 – The yearly high, achievable if the current bullish trend continues, fueled by strong technical indicators and 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’s the ongoing work behind the scenes that has really built a solid foundation for the token’s growth. $CHO isn’t just driven by one new development, it thrives on the entire ecosystem of products that the team has been working hard to build, and includes the following:
- PerpeX: a decentralized perpetual trading platform, catering to a variety of markets including crypto, forex, metals, and stocks,
- Tringlr: a hybrid SMPC-based technology, set 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, tailored for businesses to handle both crypto and fiat transactions,
- Charism: a DeFi platform that brings together seamless earning, swapping, and bridging solutions to enhance user control and liquidity in the crypto space.
Expectation abounds regarding further progress for Choise.ai and $CHO
Meme Bank was the latest official announcement from the Choise.ai team, but now community talks are growing on X about a potential listing of $CHO on another tier-1 crypto exchange, adding to its existing presence on platforms like BingX, KuCoin, MEXC, and others.
Additionally, there’s a rising discussion about a former Binance C-level executive, known for spearheading major marketing campaigns, joining the Choise.ai team. This move could significantly boost Choise.ai’s visibility and, naturally, bring $CHO into the spotlight for an even broader audience.
$CHO is on a bullish roll
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 backed by the technical indicators, the ongoing and continuous developments within the Choise.ai ecosystem, the upcoming potential for new exchange listings, and the addition of a new employee – all of which could drive the token back to its yearly high.
