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The injective price has plunged 4.5%% in the last 24 hours to trade at $38.5 as of 05:20 a.m. EST on trading volume that dropped 7% to $185 million.
Despite today’s fall, INJ has had a sterling 12 months to emerge as the top gainer among major tokens with a surge of 2,248%.
Injective Price Bulls Anticipate Another Rally Above The Bullish Pennant
Bulls have taken charge near the $15.32 support level, propelling the Injective price forward in a sustained bullish momentum. This breakout follows the accumulation phase, providing impetus for the bulls to push the price higher, reaching the $44 supply zone.
The current price of INJ is trading above the 200-day and 50-day Simple Moving Averages, as both SMAs serve as immediate support levels for the INJ price. The Moving average cross at $7.88 further reinforces the general bullish momentum.
The Relative Strength Index (RSI) signals a bullish rebound on the 50 neutral levels, which may force the RSI to back the overbought threshold of 70.
Injective Price Prediction: Bulls Continue The Bullish Momentum
Injective price is predominantly bullish, with the RSI and SMAs creating a favorable outlook for optimistic investors, anticipating a potential 52% increase to the next projected high at $58.
However, bearish control may lead to a further correction, potentially retracing towards the $33 support level coinciding with the 50-day SMA.
As traders in the Injective market patiently await the right entry positions, investors are eagerly purchasing SpongeV2, which analysts say has the potential to achieve 100X gains, as Sponge V1 did last year.
Sponge V2 Poised To Outperform The Injective Price
Building on the success of Sponge V1, Sponge V2 is now setting ambitious goals, which include expanding its listing to additional exchanges and launching a gaming app.
The objective for Sponge V2 is to emulate the remarkable achievement of Sponge V1, which experienced a surge of over 2,900% after its initial launch.
📘 Visit our website and stake your $SPONGE to be part of V2's TAKEOVER.
Simple steps to significant rewards!
GO GO GO! 🧽💦💦#CryptoStaking #SpongeV2 #Web3 pic.twitter.com/3TF0HZIT9k
— $SPONGE (@spongeoneth) January 18, 2024
You can now be part of the Sponge V2 takeover, which enjoys a support base of 13,000 holders and secured listings on more than ten exchanges, including LBank, Toobit, CoinW, BTCEX, and BitMart.
Showing his interest in trading meme coins and promising projects in May 2023, Tron founder Justin Sun has acquired $SPONGE worth more than $90,000.
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
Stake To Earn Passive Income
You can choose to lock your tokens permanently through staking models such as “Stake-to-Earn” and “Stake-to-Bridge,” which allow you to earn V2 token rewards over a four-year duration. while strengthening the overall network.
The total value of staked SPONGE tokens has surpassed 5.1 billion, with a valuation of over $4.3 million. Currently, you can enjoy an impressive annual percentage yield (APY) of over 306%.
Great news, #Spongers! 🧽🙌
There are now over 5,185,179,255 $SPONGE tokens staked with a value of $4,329,883.63!
Plus, our holders are enjoying an impressive current APY of +300%! 🚀
Join us and absorb the damp. 🧽🧽💦💦#SpongeV2 #Crypto #Web3 #Alts pic.twitter.com/MBvB3O2Ht3
— $SPONGE (@spongeoneth) January 17, 2024
Sponge is also launching a play-to-earn (P2E) game called “Sponge Racer,” which is poised to attract new investors and players alike. The game will be available for all featuring a free and paid version.
The game is powered by Sponge V2 tokens and is integrated into the enchanting Bikini Bottom. Players have the chance to collect Sponge tokens during thrilling underwater adventures. They also get to explore iconic settings and unlock potentially rewarding incentives along the way.
🎮🌟 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
In a recent video, crypto YouTuber Jacob Bury, who boasts more than 26K subscribers, explains how you can acquire and reap the benefits of SpongeV2’s staking features. He reveals that he currently holds $1,500 worth of the V2 token.
To join, you can start by visiting the official Sponge V2 website, where you 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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