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The Injective price has pumped 29% in the last 24 hours to trade at $31.38 as of 4:26 a.m. EST as trading volume jumped 218% to $638 million.
The INJ price emerged as one of the top gainers and the token has now skyrocketed 2,664% in the year to date.
The Injective Price: Bulls Target New Highs
A breakout from the accumulation phase has initiated bullish momentum, driving the price up from the $7.16 support zone.
Despite encountering resistance at $18.95, bulls have successfully regained control around the $15.32 support level, aligning with the 50-day simple moving average and propelling the price to a high of $40.
The Injective price is trading above the 200-day and 50-day moving averages, and the immediate support levels strengthen its bullish momentum, which is evident in the crossover at $7.88.
The Relative Strength Index (RSI) remains bullish, surpassing the overbought threshold of 70 and currently standing at 88, indicating significant buying pressure in the market.
The Injective Price Prediction
The Injective price is generally bullish as the RSI and SMAs set the stage for optimistic investors eyeing the next all-time high projected at $55, a potential 34% increase from the current price.
However, there is a possibility of bears taking control, potentially triggering a correction towards the $29.95 level, which could turn from resistance to support.
Even as INJ surges, experts are turning their focus towards the Sponge V2 presale after Sponge V1 did a memorable 100X. It could outshine even INJ’s significant price increase.
Sponge V2 Promises 100X Gains Again
Sponge V1 attracted a remarkable 13,000 holders, providing substantial returns for early investors. The project secured listings on over 10 centralized exchanges, such as LBank, Toobit, CoinW, BTCEX, Poloniex, MEXC, Gate.io, Bitget, BitKan, and BitMart.
The token also surged over 2,900%, making expert predictions come true.
Within a few weeks, its social media following surged to nearly 30,000, and a highly successful airdrop campaign distributed tokens valued at almost $100,000.
The developers of SPONGE are advancing the token’s evolution with the introduction of SPONGEV2. This upgraded version seeks to build upon the achievements of the original Sponge token, addressing the residual “damp” left behind.
Get SPONGE, Stake To Bridge, Earn High APY of 3510%
SPONGEV2 introduces a groundbreaking “Stake-to-Bridge” system, creating a seamless connection between the token and the V1 ecosystem, offering unmatched utility.
As the number of staked SPONGE tokens increases, so does the yield of SPONGEV2 tokens, providing investors with lucrative rewards.
Hey, #Spongers! 🧽 Here's some important info about #SpongeV2!
– Sponge V2 can only be earned by staking $SPONGE.
– V1 tokens will be permanently locked and phased out post-V2 launch.
– Keep $SPONGE tokens staked to increase holdings over a 4-year period (min 40% APY). pic.twitter.com/6yR0coYovI
— $SPONGE (@spongeoneth) December 19, 2023
A key feature of SPONGEV2 is its fixed four-year staking period, allowing stakers to accumulate tokens with an impressive 3,510% annual percentage yield (APY).
Upon the completion of the staking period, claiming SPONGEV2 tokens can be easily done through the official SPONGE website.
This innovative mechanism establishes a symbiotic relationship between the original and new SPONGE tokens, rewarding loyal holders and channeling liquidity and momentum toward the flourishing SPONGEV2.
If you missed making a killing with Sponge V1, Sponge V2 presents you with the perfect opportunity to make amends — and huge profits.
To purchase Sponge V2 tokens, connect your Web3 wallet to the official Sponge.vip website, swap your ETH or USDT for v2 tokens. Alternatively, use your bank card to buy directly.
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