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The Gorilla price has soared 40% in the last 24 hours to trade at $0.004822 as of 03:31 a.m. EST on trading volume that tumbled 9% to $4.9 million.
This surge coincides with the crypto market going through a severe downturn, which can be attributed to Federal Reserve Chair Jerome Powell’s strong indication that a March interest rate cut is improbable.
During a press conference, Powell mentioned that the Fed’s policy-making Federal Open Market Committee (FOMC) showed it is in no rush to reduce rates, noting that it “does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%.”
Gorilla Price Bulls Sustain Bullish Momentum
The Gorilla price indicates a downtrend, causing a price decline intensified by bearish pressure. However, the support level at $0.002137 has allowed the bulls to regroup and drive the price up, reaching a $0.0082 high.
Despite the bears initiating a correction, causing a short-term price decline, the bulls have shown resilience, rebounding on the $0.004540 resistance turned support.
If the general bullish momentum sustains, the bulls could cause a rebound in price, driving the price high.
The price trades above the 21 and 50 simple moving averages (SMAs), with a moving average cross at $0.002799, confirming the bullish sentiment for the Gorilla price.
The MACD is generally bullish. The blue MACD line has crossed the orange signal line and is trading above the neutral level. The histogram is growing more extensive in the positive zone, indicating intense buying pressure by the bulls on the Gorilla price.
Gorilla Price Prediction: Can the Bulls Sustain the Momentum?
The general trend for the Gorilla price is bullish, with the bulls looking to reclaim the $0.0082 high. A further push above this level could see the price touch the $0.01052 level.
However, the bear’s aggressiveness in applying downward pressure might cause the price to slip below the $0.004540 support.
Meanwhile, Sponge V2 is capturing the attention of investors, promising to repeat the 100X returns of its predecessor, Sponge V1, on launch.
Sponge V2 Set for Launch, Promising 100X Returns
Sponge V2 is nearing its launch soon, presenting a lucrative opportunity to investors. The token aims to build on Sponge V1’s success, which has achieved a 2,900% return with over 13,000 holders and listings on more than ten major exchanges, including LBank, Toobit, and BitMart. Its market capitalization also hit a peak of $100 million.
Due to a malicious attack targeting the Sponge V1 token, the Sponge team will transition all holders to Sponge V2 on February 5 at 11:00 p.m. UTC.
🚨 Important project update! 🚨
Due to a malicious attack on the Sponge V1 token, we’ll be moving all holders to Sponge V2 on the 5th of February at 11:00 PM UTC.
Please be aware the $SPONGE V1 will be discontinued.
We strongly advise all holders to withdraw their tokens from… pic.twitter.com/itZelxAL9V
— $SPONGE (@spongeoneth) January 31, 2024
Key personalities like Tron founder Justin Sun holds Sponge worth more than $90k after he said he would start actively trading meme coin projects with promise.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
Buy And Stake Sponge Tokens, Play the P2E, Game, Earn Lucrative Rewards
You can buy and stake $SPONGE or your original Sponge V1 tokens to earn $SPONGEV2, offering attractive annual rates of up to 245%. Currently, investors have staked over 6 billion Sponge tokens. The more Sponge V1 tokens you stake, the more Sponge V2 tokens you get.
Additionally, you can earn rewards by participating in the soon-to-launch play-to-earn (P2E) gaming set, which will attract more investors and players. The game “Sponge Racer” has a free and paid version powered by Sponge V2 tokens.
🎮🌟 Get set to explore the unique #PlayToEarn game in #SpongeV2!
Play, enjoy, and earn $SPONGE! 🧽
Visit our website to get involved before it's too late. 🤯⏰ #P2E #Bullish #MemeCoin #Web3 pic.twitter.com/bI8DLlgfA9
— $SPONGE (@spongeoneth) January 16, 2024
The game is seamlessly integrated into the captivating Bikini Bottom, where players can collect Sponge tokens while embarking on thrilling underwater adventures. This enables them to explore iconic locations and unlock rewarding incentives.
Conor Kenny, a YouTuber and crypto analyst with over 178k subscribers, believes there’s a chance for a 100x return when the new project launches. Kenny says SpongeV2 will outdo Sponge V1 and become the best meme coin presale in 2024.
To join the presale, visit the official Sponge V2 website and link your digital wallet to swap your ETH or USDT for V2 tokens. You can also buy directly using your bank card.
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