HBAR Price Skyrockets Tens of Percent: This is Hedera Coin Price Analysis!

Bittime - Hedera (HBAR) has again caught the attention of investors after experiencing a significant price spike. In the last 24 hours, the price of HBAR rose 10.9%, reaching a peak of $0.262 (around IDR 4,323) before stabilizing at around $0.2477 (around IDR 4,087). 

This increase was also supported by a surge in trading volume of up to 55%. This indicates increased market interest in this coin. So, what triggered the increase in HBAR prices this time? Follow this article to find out.

Hedera Partnership with Snoop Dogg Drives HBAR Price Increase

Source: CoinEdition

One of the main factors behind HBAR's price spike is the partnership with renowned rapper Snoop Dogg via the Tune.fm platform. Tune.fm is a blockchain-based music streaming platform built on the Hedera network. 

With a crypto-based payment system, Tune.fm offers musicians higher compensation than traditional streaming services.

Snoop Dogg, who has been vocal in criticizing the low payment systems of streaming services such as Spotify, decided to release his exclusive music on Tune.fm. 

Read also: Hedera (HBAR) Prediction: Could This Coin Hit $15 in 2025? Everything You Need to Know

This decision immediately triggered a surge in the price of Tune.fm's JAM token by up to 222%, while also attracting market attention to the Hedera ecosystem as a whole.

The impact of this partnership is huge, not only for Tune.fm but also for HBAR as the blockchain network that underpins the platform. 

With more and more artists looking for more profitable alternatives to distribute their music, Hedera has the opportunity to become a major player in the blockchain-based entertainment industry.

Hedera Coin Price Analysis

Currently, HBAR is testing an important resistance level at $0.2629 (around Rp. 4,337). This level coincides with the descending trend line as well as the 0.382 Fibonacci zone at $0.2636 (around IDR 4,349). 

If the price manages to penetrate this level, HBAR has the potential to continue its increase towards $0.3161 (around Rp. 5,216) and $0.3542 (around Rp. 5,849). Several technical indicators show bullish momentum:

• The 50-day EMA at $0.2442 (around Rs. 4,029) has now turned into a key support level.

• If HBAR fails to break the resistance of $0.2629, the price could experience a correction to $0.2211 (around Rp. 3,648) or even $0.1787 (around Rp. 2,954) based on Fibonacci retracement.

• On-chain fund flows showed an increase of $7.68 million (around Rp. 126.72 billion), indicating increasing demand for HBAR.

Read also: Crypto ETFs Potentially Approved in 2025: Solana, XRP, Litecoin, HBAR

With increasing trading volume and support from strategic partnerships like Tune.fm, many analysts believe that HBAR still has room to climb higher in the coming months.

Conclusion

Hedera's partnership with Snoop Dogg via Tune.fm was a major factor behind HBAR's significant price increase. 

With a business model that supports musicians more fairly and efficient blockchain technology, Hedera is increasingly attracting the attention of investors and industry players. 

From a technical perspective, HBAR is in a breakout phase with potential for further upside if key resistance can be broken. However, as with other crypto investments, volatility remains a factor that needs to be considered. 

FAQ

1. Why is the price of HBAR increasing?

HBAR price soared due to a partnership with Snoop Dogg via blockchain-based music streaming platform Tune.fm. This increases market interest in the Hedera ecosystem.

2. Can HBAR reach $1 in the near future?

Even though the upside potential still exists, HBAR must break through several resistance levels before reaching the price of $1 (around Rp. 16,500). Fundamental factors and market trends will greatly influence subsequent price movements.

3. What impact will the Snoop Dogg partnership have on Hedera?

This partnership increases adoption of Hedera technology in the music industry, strengthens its ecosystem, and has the potential to attract more blockchain-based projects to the Hedera network.

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Reference 

CoinEdition, Snoop Dogg Partnership Sends Hedera’s HBAR Up 26.7%, Analysts Predict $0.40 by March 2nd, accessed March 3, 2025.

Cryptonews, Snoop Dogg’s Tune.fm Partnership Drives HBAR Token Surge: Up 10.9% in Past 24 Hours, accessed March 3, 2025.

Author: Y