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The Sudeng price has skyrocketed 48% in the last 24 hours to trade at $0.01194 as of 3:20 a.m. EST on a 134% pump in trading volume to $4.9 million.
Sudeng calls itself the cutest HIPPO on SUI, and is a project that’s trying to capitalize on the viral success of rival meme coin Moo Deng (MOODENG), which is based on a pygmy hippo from a zoo in Thailand.
Sudeng Price Faces A Downturn: Can The Bulls Regain Momentum?
The HIPPO/USD price action on a 15-minute timeframe indicates two key technical patterns. A “Double Top” pattern is visible near the highs. A double top is typically a bearish reversal pattern, suggesting that the price may struggle to move higher and could decline from this point. After forming the double top, the price did indeed drop, validating this pattern.
Following the double top, the price entered a bearish channel characterized by a sequence of lower highs and lower lows. This channel shows a general downtrend, indicating that the selling pressure is consistent.
Volume is also a critical indicator here. It shows some decrease during the development of the bearish channel, which indicates less enthusiasm for buying. The price is near the channel’s top but has yet to make a decisive breakout.
The relative strength index trades below the 50 midline level, indicating a bearish trend for the Sudeng price. If the momentum continues downward, the RSI could reach the oversold level of 30, where the bulls could begin regaining strength to drive the price upwards.
If the price breaks above the channel and holds, it could indicate a reversal. Otherwise, continuation within the channel would mean further downside.
Sudeng Price Prediction
The price is trading at approximately $0.01187 and appears to follow a bearish trend due to the double-top pattern and the bearish channel. The price will likely continue to trend lower within the bearish channel in the short term, potentially testing support levels around $0.01100 or even lower.
However, a bullish breakout is possible if the price breaks above the upper trendline of the bearish channel, which is currently around the $0.01210 level. If that happens, it could signal a potential reversal of the downtrend, and the price may move toward the next resistance level at $0.01312 or higher.
MEMEBET Token Presale Storms Past $358K: The Next Crypto To Explode?
As the Sudeng price loses momentum, investors are flocking to a new meme coin casino project called Memebet Casino (MEMEBET Token), which has already raised over $358K in early presale funding.
According to popular crypto analyst and YouTuber ClayBro, who has over 130K subscribers, investors could see massive gains once MEMEBET Token launches.
The Memebet Casino is an emerging GambleFi project that aims to stand out by allowing users to bet with popular meme coins like Dogecoin, Pepe, and Shiba Inu. The casino will be accessible directly through Telegram and will operate without requiring KYC verification.
Memebet Casino will offer gambling options like slots, table games, and sports betting. The platform will provide rewards for $MEMEBET Token holders and high rollers, such as bonuses and access to an exclusive VIP community with special perks.
Users can also bet using MEMEBET Tokens and earn a share of rewards from the Memebet Airdrop campaign.
Bro's asking the right questions 🧐#MemeBet #Presale & #Airdrop soon ⏰
The number one place for #Crypto gaming and more! 💥 🎰$FTM $BTC #SOL #Bonk #WIF #Doge #BOME #Altseason pic.twitter.com/NLds73vdTX
— MemeBet (@Memebetcasino) May 19, 2024
During the presale, current airdrop rewards are available to users who use MEMEBET Tokens, and future airdrops will reward regular casino users.
Once the casino is live, token holders will also gain access to special challenges and exclusive bonuses. The developers have set aside 20% of the total 2 billion token supply for casino rewards, including airdrops and loot boxes, which will contain bonuses, freebies, and even real-world prizes.
MEMEBET Token is priced at $0.0256, with no minimum investment required. You can purchase it using $ETH, $BNB, $MATIC, $USDT, or a credit/debit card.
The price will increase in less than four days, so don’t wait too long if you are interested to invest.
Buy the MEMEBET Token from the official website here.
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