Mina Price Explodes 110% As SpongeBob Square Pants Themed-Meme Coin SPONGE Reignites investor Passion

After a 110% surge, Mina token price liquidated up to $2.17 million in short positions against a meager $791,000 in long positions.

Nevertheless, the data shows a significant increase in open interest for the altcoin, constituting the sum of open long and short positions. Specifically, open interest is up almost 94% since October 19, moving from $9.32 million to the current $18.02 million.

For the layperson, an increase in open interest points to new money flowing into the asset’s market. This suggests the continuation of the primary trend, in this case, an uptrend.

The surge in open interest followed an announcement by the Korean exchange Upbit, saying it was listing MINA. The translated release by the exchange indicated that new digital assets have been integrated in conformity with the travel rules against money laundering.

Mina Price Prediction

Mina’s price remains bullish even after the 110% surge, and while the Relative Strength Index (RSI) is at 94, the uptrend still abounds. However, this could change if this momentum indicator breaks below the 70 level on its way down, confirming Welles Wilder’s interpretation of an overbought asset.

Mina’s price could still forge north, breaking above the $0.8612 resistance level. In a highly bullish case, the uptrend could extrapolate beyond the $0.9723 range high, giving MINA a chance to reclaim the early 2023 highs.

Conversely, profit-taking could interrupt the rally, causing a drawdown in Mina’s price. The slump could see the MINA lose all the ground covered to potentially flip the bullish breaker back into a supply zone, significantly below the $0.5000 psychological level.

In the dire case, the slump could send Mina’s price to the depths of $0.4000, or worse, testing the floor price around $0.3480.

Shift your gaze from MINA and consider SPONGE, a presale token worth your attention. The project boasts a significant record of accomplishment, marking itself among the year’s most successful meme coins in May 2023. The hype now seems to be reigniting with an exciting airdrop. Set to end soon.

MINA Alternative

SPONGE is the native cryptocurrency for the SpongeBob ecosystem. It brings forth a community-oriented memecoin where investors enjoy a fun-filled earning experience in the crypto market.

Season 1 of SpongeBob’s exciting airdrop competition is set to end soon, with around 10% of the total token supply allocated to the airdrop. Interested investors must log in their entries by October 30 because the winner of the airdrop will be chosen on November 1. Visit SPONGE’s official discord channel for instructions on how you can enter the airdrop competition.

Don't forget, #SPONGERS! 🧽 $SPONGE Airdrop Season 1 is almost over! 👀

📅 Entries open until Oct 30th
🎉 Winners selected on Nov 1st

🔗 Learn how to enter below:https://t.co/lzRhjW4oLL#SPONGE #Web3 #Crypto #Alts pic.twitter.com/mh1wcpO6cV

— $SPONGE (@spongeoneth) October 13, 2023

The SPONGE token is available for purchase on several exchanges, including but not limited to Uniswap, LBANK, Bitget, and MEXC.

Also Read:

• Upcoming End to $SPONGE Airdrop Competitions Sparks Interest: Should You Invest Ahead of the Team’s Anticipated Announcement?

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