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The Cosmos price pumped 4% in the past 24 hours to trade for $8.476 as of 02:30 a.m. EST time, alongside a trading volume surge of 152%.
The ATOM price rose despite the broader flash crypto crash. It is attributed in part to staking on the Cosmos chain and comes as community members anticipate the COOK airdrop for ATOM and OSMO token holders.
1/3 Remember the new #Airdrop, namely #COOK, for $ATOM and $OSMO stakers?
The countdown is on!
Only 2 days left until the launch on @osmosiszone, followed by the anticipated $COOK distribution for applied participants⏳ 🚀#Cosmos pic.twitter.com/9ckOV6smqN— Cosmos | Everstake (@EverstakeCosmos) April 30, 2024
Cosmos Price Outlook
Meanwhile, the Cosmos price is consolidating within a descending parallel channel on the daily timeframe. Crucial support is presented at $7.643, marking two equal lows. If this support level fails to hold, the Cosmos price could extend the fall. This could see the altcoin revisit the $6.158 range low, nearly 30% below current levels.
The position of the Relative Strength Index (RSI) below the mean level of 50, reinforced by the position of the Awesome Oscillator (AO) in negative territory, shows that the market favors the downside. This adds credence to the bearish thesis.
TradingView: ATOM/USDT 1-day chart
Converse Case
On the other hand, a closer look at the RSI shows that it has consistently recorded higher highs. This and the green histograms of the AO point to a growing bullish sentiment that could eventually bode well for the Cosmos price.
Increased buyer momentum above current levels could see the Cosmos price recover. For the bearish thesis to be negated, however, the bulls must not only break and close above the $10.667 level, but also manage a candlestick above the equal highs of $12.433 on the one-day timeframe.
Meanwhile, some crypto analysts are recommending SPONGE V2, which they say could 100X on launch, just like its predecessor did in May 2023.
Promising Alternative To Cosmos
Sponge V2 is a new meme coin with potential for high returns, building on the success of the previous Sponge V1 token, which achieved a 100x increase in value in a bear market last year.
With this proven track record of success, the much-anticipated Sponge V2 token enters the market, promising continued growth and innovation. One of its distinguishing features is its emphasis on community engagement and utility.
Someone say $SPONGE?! 🧽💦#MemeCoin #Crypto #Staking #BTC pic.twitter.com/0f4qU07L7q
— $SPONGE (@spongeoneth) April 30, 2024
That’s why Sponge V2 offers an impressive staking yield of 163% per annum on Ethereum and 340% on Ethereum. The project has gained significant momentum, with over 9.884 billion $SPONGE tokens staked.
Sponge P2E Game
The Sponge V2 team is also creating a unique Play-to-Earn (P2E) game, adding an exciting new feature to the token. Players can earn $SPONGEV2 tokens by playing the game and ranking on the leaderboard.
Offering both free and paid versions, users can play for enjoyment or use Sponge V2 tokens to buy game credits for additional passive income. This upcoming Play-to-Earn game is expected to play a significant role in expanding the token’s utility, contributing to the project’s growth.
Don't forget, #SPONGERS! 🧽💦#SpongeV2 is bringing exciting utility through our upcoming #P2E game! 🔥
Get ready to earn $SPONGE tokens by playing the game and ranking on the leaderboard.
Stay tuned for more info! 🚀#MemeCoin #Crypto #Alts #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024
As of now, $SPONGEV2 is trading at $001441, showing an increase of 5,766% from the V1 launch price. This surge comes amid growing popularity even among big-name investors like Tron founder Justin Sun, who is a Sponge hodler!
Justin Sun holds this #memecoin :O I won't even say anymore… this could destroy #SNEK and #PEPE..! Who remembers #SPONGE?!! 🫢🔥$SPONGE V2 is making loud movements in the market, even #Trons very own Justin Sun is holding $50k worth of SPONGE! 😮 💎💎
DYOR -… pic.twitter.com/ULzSDJdYnS
— Jacob Crypto Bury (@BuryCrypto) January 4, 2024
If you want to buy Sponge V2, do not waste any time because the staking rewards will reduce over time, and the project is now offering a last chance to buy before listings on top-tier exchanges.
Also Read:
- How to Buy Sponge V2 On Presale – Alessandro De Crypto Video Review
- 100X Meme Coin Sponge Prepares For Second Takeoff With Launch of V2 – Is $SPONGEV2 The Best Crypto to Buy Now?
- Can Sponge V2 Experience a 100x Surge Similar to Sponge V1 Upon Its Launch in 2024? Conor Kenny Presale Review
- $SPONGE Crypto Price Surge Sparks Speculation on SPONGE V2’s Meme Coin 100x Potential
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