- DeepBook Protocol (DEEP) saw its price double in 24 hours following major listings on Binance Futures and Upbit.
- With technical indicators still strong, DEEP is approaching its all-time high, though a short-term correction may occur before a potential breakout.
In a stunning display of bullish momentum, DeepBook Protocol’s (DEEP) token has surged over 100% within 24 hours, fueled by major exchange listings and strong community sentiment. The explosive rally began following Binance’s April 22 announcement to list DEEP on its Futures platform, a move that triggered a wave of investor interest. Adding fuel to the fire, South Korean giant Upbit listed the token on the same day, pushing prices even higher.
Currently trading at $0.230, DEEP is inching closer to its all-time high of $0.344, marking a 66% gap from its peak. This price explosion follows a significant technical breakout on April 9, when DEEP shattered a descending resistance line and reclaimed the key $0.090 level — effectively signaling the end of its long-term downtrend.
Also read: Shiba Inu Price Prediction 2025: Will SHIB Deliver Massive Gains for Investors?
The timing couldn’t have been better. Just a week prior, DeepBook Protocol revealed the upcoming launch of v3.1 on the Sui Network, promising permissionless liquidity pools, lower fees, and deeper trading liquidity — upgrades that have no doubt added to the bullish narrative.
Technical indicators like the RSI and MACD currently show overbought conditions, but importantly, they aren’t signaling bearish divergences yet. This suggests the rally, while intense, still has legs. However, wave analysis hints that DEEP may be nearing a local top. Analysts point to a completed five-wave Elliott pattern and note that DEEP has reached the critical 0.618 Fibonacci retracement resistance.
What comes next? A short-term correction could be on the horizon, possibly pulling prices back to the $0.116–$0.142 range. Yet this might just be the pause before the next leg up, with many in the market betting on a fresh all-time high in the near future.
For now, DEEP remains one of the hottest tokens on the market, commanding attention as it eyes the top once again.
