Search Inside Bitcoins

Hivemapper Price Prediction: HONEY Soars 86% On Coinbase Listing News And This 2.0 Meme Coin Could Be The Next To Explode

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

HONEY
HONEY

Join Our Telegram channel to stay up to date on breaking news coverage

Hivemapper price skyrocketed 86% during the Thursday trading session to record an intra-day high of $0.281. The surge was flanked by an outstanding 1,108% surge in trading volume.

In the last 24 hours, HONEY price is up 8% to trade for $0.210 as of 3:30 a.m. EST time, but trading volume has dwindled 42%.

After the Thursday surge, the price quickly retracted as traders booked profits with the four-hour timeframe showing a correction. Meanwhile, it is worth noting that HONEY is built atop the Solana blockchain.

The surge in Hivemapper price came on the back of an announcement that the token would be listed on the Coinbase exchange.

Notably, what the announcement typically means is that the exchange will soon adopt the HONEY token. With the US-based exchange demonstrating plans to integrate HONEY, a decentralized global mapping network, to its listing roadmap, trading volume surged in the thousands. The price also surged amid growing interest for the token, sending Hivemapper price from $0.129 to $0.232 within 24 hours.

This initiated the typical Coinbase effect, a situation where an up-and-coming altcoin tends to experience a quick price pop after it is listed on Coinbase, the largest exchange in the US.

For Coinbase, the announcement is part of a 2022 roadmap initiative with the view to increase transparency while at the same time reducing the possibility of investors front-running new trading support announcements.

Quick Dive Into HONEY After a Remarkable Surge In Hivemapper Price

Presented as a revolutionary geo-mapping tool, the Hivemapper ecosystem and its native crypto HONEY have contributors collecting mapping data with dash cams. In turn, the contributors are rewarded for the footage they provide. The footage is then compiled to create a decentralized map.

Hivemapper Price Prognosis As The Coinbase Effect Wears Off

After a remarkable surge, Hivemapper price established a market range between $0.100 and $0.315. However, as traders cashed in the Coinbase effect, the token retracted and is now sitting on the support provided by the 38.2% Fibonacci at $0.182.

The Relative Strength Index (RSI) is extending the slump after executing a sell signal when it crossed below the signal line (yellow band) on January 4. The fact that it is headed south suggests falling momentum. The histogram bars of the Awesome Oscillator (AO) are also flashing red to show the bears have established a presence in the HONEY market.

If profit booking continues, Hivemapper price could lose the support due to the 50% retracement level at $0.207. A break and close below this level would see the price lose the additional support offered by 38.2% Fibonacci level at $0.182.

Further south, the slump could see HONEY price descend to the centerline of the Bollinger Band indicator at $0.175, or lower, the 23.6% Fibonacci level at $0.150. In the dire case, the load-shedding exercise could send Hivemapper price to the depths of the market range at $0.100. Such a move would constitute a 47% drop below current prices.

Honey pricd
TradingView: HONEY/USDT 4-hour chart

Converse Case

Cognizant that the Average Directional Index (ADX) indicator is flattening out, the strength of the downtrend is fading, possibly, as bulls come back into the market. Increased buying pressure could see Hivemapper price push past the most important Fibonacci retracement level of 61.8% at $0.233, or higher to break above the upper band of the Bollinger indicator at $0.259.

In a highly bullish case, Hivemapper price could extend the gains past the 78.6% Fibonacci level at $0.269 before a possible extension to fill the market range at $0.315. The position of the AO in the positive territory the bulls still maintain a presence in the HONEY market, and could scale a recovery.

Meanwhile, as the Solana-based meme coin works out its next directional bias, attention has turned to Sponge V2, one of analysts’ top choices for the best meme coins to invest in. The project comes after its predecessor, Sponge V1, recorded massive success and now experts anticipate better performance with this new version.

Promising Alternative To Hivemapper

Standing among the top picks by analysts for the best crypto ICOs with big returns in 2024Sponge V2 is an upgraded version of Sponge V1 poised to capture the market just like its predecessor meme coin, which recorded a 100x surge in 2023.

Among the crypto executives that have shown support for Sponge V2 is Tron founder and Huobi Global advisor Justin Sun, with a  wallet address (0x176f3dab24a159341c0509bb36b833e7fdd0a132) tagged as ‘Justin Sun 4’ on Etherscan reported to be holding 108 million SPONGE V1 valued at $43,246.

Meanwhile, this stake-to-bridge project is available for interested investors. Simply buy Sponge V1 and stake it. Each Sponge V1 token is selling for $0.000573. Buy and Stake V1 tokens to earn sponge V2 tokens now, as the tokens are only available through Stake-To-Bridge.

Visit and buy Sponge V2 tokens here.

Also Read:

Smog (SMOG) - Meme Coin With Rewards

Rating

Smog token
  • Airdrop Season One Live Now
  • Earn XP To Qualify For A Share Of $1 Million
  • Featured On Cointelegraph
  • Staking Rewards - 42% APY
  • 10% OTC Discount - smogtoken.com
Smog token

Join Our Telegram channel to stay up to date on breaking news coverage

Read next