Snoop Dogg's Tune.fm Partnership Drives HBAR's 10.9% Surge
1min read Hedera (HBAR) has surged by 10.9% in the past 24 hours, reaching a high of $0.262 before settling around $0.2477. This bullish momentum has been driven by a 55% increase in trading volume and a net positive flow of $7.68 million, indicating strong buying interest. The token's weekly gains now exceed 15%.
Snoop Dogg's partnership with Tune.fm, a decentralized music streaming platform built on the Hedera network, has fueled investor enthusiasm and contributed to the hbar token's surge. Following the announcement, Tune.fm's JAM token experienced a 222% price increase. Snoop Dogg's decision to release exclusive music on Tune.fm highlights the platform's unique value proposition, offering artists higher revenue compared to traditional streaming giants like Spotify.
Snoop Dogg's backing of Tune.fm has brought mainstream attention to the platform and the Hedera ecosystem, reinforcing HBAR's potential beyond finance and into entertainment and creator economies. This adoption strengthens Hedera's long-term outlook, attracting more projects and institutional interest.
At the time of writing, HBAR ranks 11th by market capitalization at $10.3 billion, supported by a 6.89% daily increase. The latest rally follows a broader crypto market uptrend, as investors assess Bitcoin's stability near $86K, ETF movements, and upcoming U.S. crypto regulations.
HBAR is currently testing resistance at $0.2629, aligning with a descending trendline and the Fibonacci 0.382 retracement level ($0.2636). A breakout above this level could propel HBAR toward $0.3161 and $0.3542. The 50-day EMA at $0.2442 has turned into support, suggesting a shift in momentum. However, rejection at $0.2629 could lead to a pullback toward $0.2211 (Fibonacci 0.5 level) or $0.1787 (0.618 level). A daily close above $0.2636 could reinforce bullish continuation.
