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The Grok price has soared by 10% in the past 24 hours to trade for $0.0115 as of 08:05 a.m. EST on trading volume that plunged 20%.
Morning crypto post ✨✨✨
The market is doing much better today and we see green all across the board. #GROK Is bouncing back as well. I use CoinMarketCap and CoinGecko to monitor cryptocurrency only. I purchase crypto using MetaMask, Coinbase wallet and trust wallet. I post 24-… pic.twitter.com/5LVOAmO14C— jadedOne1 (@Jadedimage) May 2, 2024
Grok has the benefit of being closely associated with Elon Musk. “Grok has the strongest connection to Elon Musk than any other meme coin,” says X user @langtuphongnhiz. ”Floki took inspiration from Elon, but Elon has posted five separate Grok memes already.”
The biggest supporter of the #GROK meme coin is Elon Musk.
He reposts memes created by the @Grok_Project community each time bringing visibility to 100s of millions of people.
Remember how vocal I’ve been about Grok for the last 6 months. The next 6-12 months will change lives. https://t.co/fI4TzUuMZj
— Peta₿yte (@PetaByteCapital) May 1, 2024
Grok Price Prediction
The Grok price is trading with a bullish bias, with noticeable higher lows on the one-day timeframe for the GROK/USDT trading pair. The position of the Relative Strength Index (RSI) above the mean level of 50 is a bullish sign. This is accentuated by the Awesome Oscillator (AO), which is in the positive territory, increasing the odds for a further upside.
If the RSI produces a higher high, accompanied by a flip of the Grok price above the 50% Fibonacci placeholder at $0.0120, the uptrend for the Grok price could be sustained.
Noteworthy, the Grok price is sitting on strong support downward. This is due to the 20-, 50-, and 100-day Exponential Moving Averages (EMA) at $0.0112, $0.0114, and $0.0110 levels respectively. Any efforts by the bears to push the Grok price down would be countered by buying pressure from these buyer congestion levels.
For confirmation of the intermediate trend (uptrend on the daily timeframe), the bulls must haul the Grok price above the peak of the market range at $0.0163. In a highly bullish case, the gains could extrapolate for the Grok price to reclaim the $0.0261 range high. This would denote a climb of nearly 125% above current levels.
Traders waiting to take long positions on GROK should probably wait for the Grok price to flip the $0.0163 blockade into support. This would be reinforced by the RSI producing a higher high, to confirm a growing bullish trend.
Tradingview: GROK/USDT 1-day chart
Converse Case
On the other hand, if early profit booking commences, the Grok price could drop. A slip below the $0.0100 psychological level would encourage more sell orders from spooked holders. A lower low below the $0.0076 base would mark a trend reversal, potentially reinforced by a lower high on the RSI.
For the bullish thesis to be invalidated, however, the altcoin must break and close below $0.0065 support on the one-day timeframe.
Even as Grok climbs, other investors are pivoting to Sponge V2, which is offering a last chance to buy before it goes live on top-tier exchanges. Crypto analyst and YouTuber ClayBro anticipates up to 100X in returns once this happens.
Promising Alternative To GROK
Sponge V2 comes after the first version was phased out by the development team. The discontinuation opened the door for $SPONGE holders to transition into a more secure V2 on the Polygon network.
Sponge V2 is an upgraded version of its predecessor, promising bigger rewards and a more robust ecosystem.
🚀Missed 100x in 2023?💥 $SPONGE is BACK with V2 – Bigger, Better, and ready to absorb the damp!
Hurry and stake now to join the ride! 🔥#SpongeV2 #Web3 #Crypto #Alts pic.twitter.com/VMooQjC79H
— $SPONGE (@spongeoneth) March 25, 2024
The migration to the Polygon network allows the project to use the features of the MATIC chain to offer lower transaction fees and faster transactions to its users. Sponge V2 also leverages the momentum of the meme coin trend, with the team capitalizing on the excitement surrounding meme-based cryptocurrencies.
Someone say $SPONGE?! 🧽💦#MemeCoin #Crypto #Staking #BTC pic.twitter.com/0f4qU07L7q
— $SPONGE (@spongeoneth) April 30, 2024
The platform has a staking option through which investors can earn a passive income by staking $SPONGE V2 tokens, with an impressive 340% annual percentage yield (APY) on the Polygon network and 163% on the Ethereum network.
The yield reduces every day, though, making now the best time to buy. So far, upwards of 9.888 billion SPONGE tokens have been locked on the staking dashboard.
Exciting news! There are now over 9.8 Million $SPONGE tokens staked! 🔥🧽#SpongeV2 #Crypto #100x #Alts pic.twitter.com/WBt3fCvnZm
— $SPONGE (@spongeoneth) April 18, 2024
Sponge V2 P2E Game
You can also earn through the platform’s play-to-earn game (P2E), Sponge Racer, where you get to engage in racing competitions and earn token rewards.
The P2E game is an initiative that merges gaming elements with cryptocurrency rewards, broadening its audience while delivering additional value to token holders. This is expected to drive further demand for Sponge V2 and ensure its long-term sustainability.
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
Sponge launched at $0.000025 last year, and with the V2 price now at $0.001576, the price has skyrocketed 6,303%.
Buy $SPONGE now, or FOMO in later; the choice is yours! 🧽💦#SpongeV2 #MemeCoin #Binance pic.twitter.com/qbKjvo6VwH
— $SPONGE (@spongeoneth) April 20, 2024
If you buy now, you stand to benefit from the impact of new listings on top-tier exchanges that are expected to come soon.
Visit the Sponge V2 website here.
Also Read:
- Two Hidden Meme Coins to Watch in 2024 – New Crypto Gems With 100x Potential
- Crypto YouTuber Crypto Boy Provides Update on Sponge V2 Ahead of Its Upcoming Listing
- Maximize Portfolio Potential with the Top 3 Solana-Based Meme Coins for the Next Bull Run
- Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!
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- Staking Rewards - pepeunchained.com
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