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The Samoyedcoin price surged 30% over the last 24 hours to trade at $0.01505 as of 4:00 a.m. EST time.
The jump follows a recent airdrop that fueled increased engagement on SAMO, evidenced by trading volume that soared 238%.
Hey #Solana Saga Holders! The time has come. 🙌
Head on over and claim your FREE $SAMO! 🐶
👉 https://t.co/MKDejwG8Kq 👈 pic.twitter.com/3qKBJMdeFm
— Samoyedcoin (SAMO) (@samoyedcoin) January 9, 2024
Samoyedcoin Price Outlook
From a technical standpoint, with the Relative Strength Index (RSI) as the primary indicator, momentum is rising. This is seen with the RSI approaching the 70 (overbought) region.
This suggests increasing buying pressure that could send Samoyedcoin price further north. In the same way, the Awesome Oscillator (AO) indicator is also in the positive territory. It shows the bulls still have a presence in the SAMO market. Both these point to the odds favoring the upside.
Furthermore, the Average Directional Index (ADX), an indicator used in gauging trend strengths, is decreasing. This hints that the trend that saw Samoyedcoin price record lower highs is also losing strength. This favors the upside. This points to mounting bullish momentum on the meme coin as holders could now be buying the dip after the rejection on January 9.
Conversely, cognizant that the AO is reverting towards the midline with red histogram bars, the bears are also at play. The tug of war between the bulls and the bears for dominance could see the Samoyedcoin price drop if the bears have their way. To defend against this, the bulls must defend the support offered by the 100-day Simple Moving Average (SMA) at $0.0136868
Meanwhile, as the Samoyedcoin price works out its next move, Sponge V2’s SPONGEV2 token is having a blowout presale and is ranked among the top presales of 2024.
Promising Alternative To Samoyedcoin
Building on the triumph of Sponge V1, Sponge V2 strives for a remarkable 100-fold return on the initial investment
Utilizing the provided widget, SPONGE V2 opens the door for purchasing and staking the token, yielding a bonus in V2 tokens at a favorable rate of $0.000946 per token.
Sponge V1 hit a market cap of $100 million and secured listings on over ten centralized exchanges, including LBank, Toobit, CoinW, BTCEX, Poloniex, MEXC, Gate.io, Bitget, BitKan, and BitMart. The community also grew to over 13,000 holders.
🚀 Missed Sponge V1's 100x Success?
With an even larger campaign for #SpongeV2, we’re coming back stronger than ever! 💪
Hurry and stake your $SPONGE tokens today! 🔥$SPONGE #Crypto #CryptoStaking pic.twitter.com/QIo0RMz4LT
— $SPONGE (@spongeoneth) January 6, 2024
Justin Sun’s Impact on SPONGE
Investor and trader optimism has been boosted by the participation of Tron founder Justin Sun. In May 2023, Justin Sun revealed his plans to swap meme coins for potential initiatives, continuing his prior statement about his aim to acquire attractive meme coins. At the moment, Sun has $SPONGE valued at about $90K.
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
According to crypto security company PeckShield’s data, 6,166 ETH were transferred from Binance to a wallet linked to Justin Sun, suggesting he could be eyeing Sponge V2 and other meme coins. At the current market price of ETH, this amount is worth $14.7 million.
#PeckShieldAlert The address 0x9FCc…19Fe (Suspicious #JustinSun related) has withdrawn 6,166 $ETH (worth ~$13.8M) from #Binance pic.twitter.com/8jGbcwRvzg
— PeckShieldAlert (@PeckShieldAlert) December 26, 2023
Token Staking
Staking the original V1 token grants access to the optimized gaming-centric SPONGE V2 coin. After staking, tokens will automatically bridge at a later date. Token holders are urged to stay updated through the project’s social media channels, including X and Telegram.
Opting for the premium edition allows spending $SPONGEV2 tokens to acquire more game credits, enhancing chances of earning additional $SPONGE.
Cryptocurrency YouTuber Jacob Bury, boasting over 26,000 followers, shares insights on SpongeV2’s profit potential, expressing optimism about its prospects and foreseeing a potential 10X for investors.
Connect your Web3 wallet to the official Sponge V2 website, facilitating the exchange of ETH or USDT for V2 tokens to purchase the meme coin. Direct bank card purchases are also available for those seeking a straightforward transaction.
With the Samoyedcoin price approaching a correction, now would be a good time to stack up on some Sponge V2 tokens for future gains.
Get your SPONGEV2 here.
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