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The Aurora price uptrend is on track after the token rose more than 75% to trade at $0.102 as of 7:30 a.m. EST.
The altcoin has also risen 104% over the last seven days to set a swing at $0.11 on Friday. Monthly gains have reached 92%, and it trades 30% higher than its price three months ago.
$KING trading in KUCOIN Top 3 gainers 😍
45% up from buying and going strong 💪
Cheers🍻$aurora $ngl $brwl $hydra $floku $ace https://t.co/zRmQuREkkc pic.twitter.com/CYDvj5lcvp
— Kucoin Gems Finder (@Kucoingemfinder) October 27, 2023
The rally seems to be gaining momentum as AURORA trades in a fourth straight daily trading session on Friday. Its trading volume is also increasing, currently standing at $6.07 million, after rising more than 677% over the last 24 hours, according to data from CoinMarketCap.
The latest surge in Aurora’s price can be attributed to the overall bullish sentiment witnessed in the crypto market over the last week, primarily driven by the anticipation of Bitcoin ETFs entering the market soon.
This development has led to a significant increase in the price of Bitcoin, which, in turn, has positively impacted the broader market.
Previously hovering around $0.05, Aurora was considered heavily undervalued, making its current uptrend even more noteworthy.
AURORA/USD Daily Chart
On the downside, the RSI showed that AURORA was massively overbought, meaning the ongoing rally could soon run out of steam, paving the way for profit-booking. The resulting overhead pressure could see the Aurora price lose the support at $0.096, embraced by the 78.6% Fibonacci line, potentially moving toward the $0.09 psychological level or the 50% retracement level at $0.79.
AURORA Alternatives
Aurora is not the only token displaying a stunning performance. SpongeBob (SPONGE), a zero-tax meme coin, has also been performing well over the last few days after announcing the introduction of staking, to take place on Nov. 1. SPONGE is up 30% over the last seven days to $0.00001110.
With only five days to go, the staking news attracts buyers to the SpongeBob project, which was created as a homage to the SpongeBob cartoon character. However, it has no affiliation with Nickelodeon.
🚀 Big News, #SPONGERS! 🧽
Starting November 1st, you can STAKE your $SPONGE tokens and dive deep into passive rewards! 🌊💰
Get ready to soak up the damp! 🚢💦
Stay tuned for more details! 📢#SpongeStaking #Crypto #Web3 pic.twitter.com/6slxnX3ON2
— $SPONGE (@spongeoneth) October 21, 2023
SpongeBob also carries out an airdrop with entries scheduled to end on October 30. The winners of the airdrop will be announced on November 1.
As much as 10% of the total token supply is said to have been allocated to the airdrop. Instructions to enter can be found in $SPONGE’s official discord channel.
🚀 Hang tight, #SPONGERS! 🧽
Just 3 days left for the $SPONGE Airdrop Season 1 extravaganza! 🌊🔥
⏰ Entry closes on Oct 30th
👑 Airdrop distribution on Nov 1stFind out all the details below!
👉 https://t.co/lzRhjW4oLL pic.twitter.com/5c4sX4agKo— $SPONGE (@spongeoneth) October 27, 2023
Like other meme coins, the team behind SPONGE hopes to ignite more interest in their token by implementing token staking and through airdrop campaigns.
At the time of writing, SpongeBob was exchanging hands at $0.0001110 with a market capitalization of $2.73 million, according to data from DEXTools.
The new staking utility is already drawing in new buyers, and that’s expected to continue when staking goes live. As such, $SPONGE has the potential to rally back to its all-time high price of $0.0023, delivering a gain of more than 20x from the current price.
Visit SpongeBob here to buy your SPONGE tokens.
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