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The SPX6900 price plummeted 17% in the last 24 hours to trade at $0.5111 as of 5 a.m. EST on trading volume that plunged 37% to $69.81 million.
The project’s price drop comes after a highly successful week that brought a price surge large enough that it leaves SPX still 125% higher than seven days ago.
The project could soon see a recovery from its 24-hour drop, however, as it just announced that the SPX token airdrop is live, calling it a gift to the community and inviting members to come to claim their own SPX.
In addition, a popular platform Hibt, formerly HotsCoin, also said yesterday that SPX will be listed on its exchange, paired against USDT. The listing has already taken place since the time the announcement was made, further increasing the token’s availability.
🚀 @spx6900 $SPX(SPX6900) will soon be listed on #Hibt
🔥 Pair: SPX/USDT
💼 Network: ERC20⏰ Trade: https://t.co/ga0IzOeeiS
✍️ Details: https://t.co/TLdIdYhaqL#SPX #Crypto #Web3 #CryptoListing pic.twitter.com/NV1B5h4YfP— Hibt (@HIBTGlobal) October 10, 2024
Lastly, SPX announced on Oct. 10 that it is live on MEXC, a major crypto exchange that brings massive new exposure.
the teeny tiny coin that contains the entire stock market just got even more kawaii (if that’s possible).$SPX is now listed on @MEXC_Official #SPX6900 💹🧲 pic.twitter.com/aUEUEky4zk
— SPX6900💹🧲 (@spx6900) October 10, 2024
With all of these positive developments, the token’s price drop could soon be turned around, and once again test a resistance at $0.60.
SPX6900 Price Prediction
Right now, the SPX price is showing a willingness to grow, but the bulls who keep trying to push its price are slowly becoming a minority, as the bearish trend grows stronger. This can be seen from technical indicators such as Bollinger bands, which are slowly gravitating toward one another, growing tighter.
The price itself is either pushing the lower band further down, or climbing to the neutral area between the bands, balancing in the middle. Very rarely did it grow to the upper band in the last two days, and every time when it did, this happened because of a short-term bullish wave, suggesting that the overall underlying trend is bearish.
The project’s Relative Strength Index (RSI) has managed to grow to the overbought zone several times in the past 24 hours, but each time it saw a sharp sell-off which knocked it back down to the oversold zone.
In other words, traders are making full use of the token’s potential for growth, buying the dip and waiting for the price to go up, only to then sell and take profit.
Based on the RSI’s recent performance, the SPX has seen a lot of trading activity, and bulls and bears have been shifting in their dominance, with no calm periods of stability.
Right now the RSI is once again dropping from the overbought zone, and while it seemingly started a recovery, it only reached the neutral area before the bears tightened their grip, increasing the selling pressure.
This is why the SPX6900 price remains between the support at $0.50 and a resistance at $0.55 for the time being, unable to retest the resistance at $0.60.
The negative performance is something of a surprise considering all the positive events that the project has seen in the last day or so, but with the wider market currently trading in the green, a new bull wave might be strong enough to reverse the trend on SPX, as well.
Promising Alternative To SPX6900
As the pursuit of profits once again sees bulls and bears clash, there is a new project that seeks only unity among its community members, and it came up with a way to encourage it. Its name is Flockerz (FLOCK), and it is currently still in presale.
Flockerz is a decentralized meme coin project that seeks to encourage users to participate in governance by introducing a new model called Vote-To-Earn (V2E).
As the name suggests, the model was designed to reward users with a small amount of cryptocurrency for their participation in the voting process whenever there is a decision to be made.
Its goal is to put the power back into the users’ hands, and also to encourage users to seek that power and make good use of it. Right now, it is still in presale, and it offers massive rewards to those who choose to buy and stake its token and use their membership of the FLOCK community to earn more through voting.
The current staking rewards sit at a huge 3,006% annually, with almost 61 million tokens already staked.
YouTuber Jacob Crypto Bury, who has over 42.7k subscribers, believes that FLOCKERZ has 10x potential after it goes live.
Right now, the FLOCK token costs $0.0057469 and can be bought with ETH, BNB, USDT, or credit and debit cards.
If you are eager to join investors who have pumped more than $605k into the project, buy before a price hike in less than 2 days.
Visit the official FLOCK website here.
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