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The Wen price has surged 48% in the last 24 hours to trade at $0.0000735 as of 5:06 a.m. EST on trading volume that surged 97% to $43 million.
The rise in the WEN price comes as the Crypto Fear and Greed Index surges to 79, a high not seen since BTC reached its all-time high of $68,000 after the bull run in 2021.
The spike came after BTC passed $50,000 on February 12, fuelled in some part by buying from Bitcoin ETFs (exchange-traded funds) that were approved last month.
Wen Price Continues Its Bullish Momentum On A Rising Channel
The Wen price is currently on an uptrend after it broke out of a consolidation phase that was forming around $0.00004. The current bullish rally has allowed the bulls to drive the price up within the rising channel, but they are facing resistance at $0.000085.
WEN is currently trading above the 50-day Simple Moving Average (SMA), which affirms the current bullish momentum. The Relative Strength Index (RSI) is in the overbought region at 72, which is an indication of intense buying pressure.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) is trading above the signal line (orange), which further confirms the bullish sentiments of the Wen price. Additionally, the histogram shows that the green bars have been extending up over time, which coincides with the bullish rally of the price.
The Average Directional Index is above 25 at 39, showing that the current bullish trend is very strong.
Wen Price Prediction
The Wen price is currently on an uptrend, with bulls aiming at driving the prices even higher up the channel. A double bottom formation at $0.00004 provides solid support for bulls. This offers strong prospects for the Wen price to target the next resistance at $0.0001.
However, if the bears take control of the price, there may be a retrace back to the next support level at $0.000048.
As the Wen price soars, some investors are migrating to SMOG in the hope it’s poised to emulate the success of Solana-based meme coins like BONK, MYRO, HONK, and WIF. The Smog project also promises to unleash the mother of all airdrops.
SMOG Poised To Be The Next Big Solana Meme Coin
The SMOG token is rapidly gaining recognition as analysts hail it as the next big thing among meme coins on the Solana blockchain. The current bull run is getting a tail wind from positive sentiment around the Chinese Lunar New Year of the Dragon celebrations, and SMOG is also well placed to gain from that with its dragon theme.
Buy And Hold $SMOG For A Chance At Huge Returns From The Upcoming Airdrop
After Jupiter’s announcement of a $700 million airdrop on Solana, an event that transformed many into millionaires, SMOG is now offering an even larger and more enticing opportunity.
Out of its 1.4 billion token supply, the Smog team has allocated 35% for the upcoming airdrop. All you have to do is buy and hold $SMOG to qualify for the airdrop. This incentive has brought in a lot of investors, which has significantly boosted the token’s popularity.
The SMOG team has also launched a staking feature on the Ethereum network, offering a 10% discount on all SMOG tokens that you stake.
Crypto expert and YouTuber Jacob Bury says that SMOG is a meme coin with the potential to yield a 1000X return on investment.
You can buy the SMOG token on its official website to be eligible for the upcoming historic airdrop. You can also buy directly on JUP DEX.
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