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The Perpetual Motion Machine price has surged 432% in the last 24 hours to trade at $0.055 as of 05:03 a.m. EST on trading volume that rose 35% to $930,404.
The surge in PMM’s price follows a significant decline of nearly 98%, plummeting from $0.65 to $0.008. Perpetual Motion Machine (PMM) experienced this sharp drop in value, reportedly attributed to hacking incidents, its project team said.
🦉 Attention crypto fam!
Yesterday $PMM Price was $0.65 & Today price is $0.008
It's Almost -98% Down from Yesterday's Price.✅ ANYTHING could happen while you sleep!
✅ Markets NEVER rest.
✅ Prices may rise or fall.
✅ So set your trades wisely!
✅ Don't let your hard-earned… pic.twitter.com/3R74ciaA5L— Crypto Patel (@CryptoPatel) February 12, 2024
Despite encountering this setback, PMM has demonstrated resilience amidst market turbulence, staging an impressive comeback. Can PMM recover to its all-time high?
Perpetual Motion Machine Price: Set For A Rebound Over The Lower Boundary Of The Ascending Triangle
Following the significant decline in the Perpetual Motion Machine price, investors appear to maintain some trust in the project, as evidenced by its recovery to $0.09.
However, bears may have taken control of the price, as it trades on the lower boundary of the ascending triangle.
The PMM price is currently trading below the 50-day Simple Moving Average (SMA), which coincides with the current retracement from the resistance at $0.09 to the current price at $0.055. However, the price is trading above the 200-day SMA, which indicates some bullishly biased prospects for the price.
Additionally, the formation of a moving average (MA) cross at $0.0106 further supports the notion of a bullish rally underway.
The Relative Strength Index (RSI) is at the 30-oversold level heading south, which indicates intense selling pressure. In most cases, such levels are used to indicate entry positions, signaling a likely price rebound.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) supports the current retracement trend, as it trades below the signal line (orange). The histogram also shows the red bars extending on the downside, indicating that the prices are currently down but showing signs of a rebound to the upside.
Meanwhile, the Average Directional Index (ADX) stands at level 20, indicating an attempt to trend upwards. This signifies a somewhat neutral trend, suggesting that the price could break out in either direction. In the event of sustained bullish momentum, the ADX has the potential to surge towards stronger trend levels.
Perpetual Motion Machine Price Prediction
The Perpetual Motion Machine price has crossed the lower boundary of the ascending triangle. Bulls might find solid support around $0.039, serving as a cushion against downward pressure. This level could help them potentially propel the price upwards to test the $0.092 resistance, as they target $0.1.
However, if the bears exert more pressure, the price may retrace further to the crucial support zone at $0.036.
As PMM traders look for possible buying opportunities, other investors are flocking into Sponge V2, with potential 100X gains as listings on major exchanges looms.
Buy $SPONGE V2 With 100X Possible Returns
After enjoying tremendous success last year, SPONGE is making a grand return, bigger and better than ever before. With a staggering 100X surge in value, SPONGE demonstrated its potential.
Now the team behind this amazing project is presenting you with an opportunity to get huge returns with Sponge V2, which is poised for listings on major exchanges soon.
If you missed out on $SPONGE V1, don't miss out on #SpongeV2!
Time to stake your $SPONGE! 🚀🧽#MemeCoin #Web3 #Altcoins #BullMarket #Bullish #Trade pic.twitter.com/oNwatR7ihw
— $SPONGE (@spongeoneth) February 10, 2024
Investors were swept up in a frenzy as Sponge V1 amassed over 13,000 token holders and reached a $100 million market cap.
The project also garnered attention from prominent figures in the crypto industry, including Tron founder Justin Sun. Intrigued by the potential of trading meme coins, Sun acquired $SPONGE tokens that since appreciated to reach a value exceeding $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
The development team discontinued Sponge V1 on February 5, migrating to the Polygon network, hoping to benefit from its security, faster transaction speeds, and lower fees.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
Stake $SPONGE V2, Get Rewards
You can easily buy and stake your Sponge V2 tokens, and earn an impressive 198% annual percentage yield (APY).
Exciting news, #SPONGERS! 🌟🧽🧽#SpongeV2 is now live! Visit our website to buy and stake $SPONGE V2.
Check it out below! 👇https://t.co/nFOSl1ZCD9#MemeCoin #Web3 #Crypto #Altcoins #CryptoStaking pic.twitter.com/T4DCAKhcxF
— $SPONGE (@spongeoneth) February 6, 2024
Sponge V2 also is introducing about new features for you to earn from. It has introduced a new play-to-earn (P2E) gaming section, set to bring in a wider array of investors and players alike.
The team is set to release Sponge Racer, a game that will come in both free and paid versions. Gamers will participate in races where they will earn token rewards after completing different missions.
According to crypto analyst Jacob Bury on YouTube, Sponge V2 has the potential to achieve 100X gains at launch, like its predecessor.
To join the presale, visit the official Sponge V2 website and 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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