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The SatoshiVM price surged 20% in the last 24 hours to trade for $12.76 as of 2:56 a.m. EST time, but trading volume dropped almost 10%.
With this leap, SAVM has featured among top trending coins on Wednesday, with DEXTools featuring it among the hot pairs list.
Trending #crypto coins 🔥
🥇 $SAVM
🥈 $TRUMP
🥉 $TROLL
4️⃣ $CHOW
5️⃣ $FERRET
6️⃣ $SHIDO
7️⃣ $BTC
8️⃣ $PEAS
9️⃣ $PEPE
🔟 #GROK#Ethereum #100x #1000x #SAVM #TRUMP #TROLL #SHIDO #PEPE #BTC $ETH pic.twitter.com/ggPb11FWvp— Crypto Analysing (@CryptoAnalysing) January 23, 2024
Meanwhile, there is speculation that the uptick in the SatoshiVM price is the result of a pump-and-dump case. This is after a SatoshiVM team-linked wallet sold $3 million worth of SAVM.
🔥SatoshiVM Team-Linked Wallet Sells $3 Mln #SAVM , A Pump & Dump Case?🤔📈📉
🛎️Follow @CoinGapeMedia
🗞️Read the full article: https://t.co/9TKoNaGjBX pic.twitter.com/6oj7jqdenk
— Crypto News (CoinGape) (@CoinGapeMedia) January 22, 2024
On-chain detective Lookonchain also revealed that a whale spent 2.05 million USDT to buy 186,133 SAVM tokens at $11.01 a few hours ago.
A whale spent 2.05M $USDT to buy 186,133 $SAVM at $11.01 7 hours ago, becoming the 8th holder of $SAVM.
This increased the price of $SAVM by ~20%.https://t.co/gFl0YqSlmY pic.twitter.com/tzDTVIwCQq
— Lookonchain (@lookonchain) January 24, 2024
According to Lookonchain, it was this transaction that made the SatoshiVM price surge by nearly 20%.
SatoshiVM Price Outlook Amid Speculation Of A Pump And Dump
The SatoshiVM price is confronting the most important Fibonacci level of 61.8% at $12.75, with prospects for extended gains. This is because the Relative Strength Index (RSI) is northbound, suggesting rising momentum. The position of the RSI at 65 also shows that there is still more room to the north before the altcoin can be considered overbought.
The histogram bars of the Moving Average Convergence Divergence (MACD) are flashing green to show the bulls are leading the SAVM market. The MACD is also still moving above its signal line (orange band), further accentuating the bullish outlook.
If the SatoshiVM price is able to overcome the 61.8% Fibonacci level, the gains could extend for the altcoin to tag the 78.6% Fibonacci level at $15.97 or in highly bullish cases, extrapolate the climb to fill the market range at $20.07, levels last tested on Tuesday, January 23. Such a move would denote a 67% climb above current levels.
TradingView: SAVM/USDT 1-hour chart
Converse Case
On the other hand, if investors cash in on the gains already made during the Wednesday session, the SatoshiVM price could descend. This could see the altcoin’s market value descend below the 50% Fibonacci level at $10.48, or lower, testing the centerline of the Bollinger indicator at $9.95.
In the dire case, the slump could see the SatoshiVM price retract below the 38.2% retracement level at $8.22, below which the downtrend is likely to extend further.
Meanwhile, attention is already on Sponge V2, a meme coin that’s likely poised for more gains after its predecessor, Sponge V1, recorded 100x returns after launch in 2023. It has soared 1,011% in the past year with presale sales bouldering past the $6.3 million mark.
Promising Alternative To SatoshiVM
A renowned YouTube crypto analyst recently indicated that $SPONGE has advanced 10x from recent lows and looks well placed for even bigger gains ahead.
🛒🔐 New to #SpongeV2?
Learn how to buy and stake $SPONGE on our website and start earning V2 tokens. 😎🙌
Don't miss out on the special bonus!
#BuyAndStake #AltSeason #Web3 pic.twitter.com/AozJfPxOQP
— $SPONGE (@spongeoneth) January 15, 2024
Cilinix Crypto also highlighted the possibility of a post-launch surge for Sponge V2. This is as some speculate it could even match the impressive 100x return achieved by its predecessor.
Those who do not already hold SPONGE V1 need to purchase it, and then stake these holdings in the bridging contract. Find details on the Sponge.vip website.
The ultimate goal of SPONGE is to soak up liquidity from the competition. With this, it is absorbing all the damp. The project’s staking dashboard allows holders to lock their SPONGE forever and get ready to absorb the damp with the new and improved SPONGEV2.
Plans are already underway to have the meme coin listed across multiple exchanges.
10 exchanges not enough? 😉#SpongeV2 will be listed on BIGGER AND BETTER exchanges! 🔥
You’re not ready for what’s coming next 👀#SpongeV2 #MemeCoin #Presale pic.twitter.com/LdXRYu65Z8
— $SPONGE (@spongeoneth) January 23, 2024
Meanwhile, the staking function is gaining ground, with stakers enjoying up to 279% in Annual Percentage Yields (APY). So far, over 5.795 billion SPONGE tokens have been staked.
Buy and stake $SPONGE today and it could set up your crypto portfolio for spectacular returns even as analysts rank it among their best choices for promising meme coins.
Also Read:
- How to Buy Sponge V2 On Presale – Alessandro De Crypto Video Review
- 100X Meme Coin Sponge Prepares For Second Takeoff With Launch of V2 – Is $SPONGEV2 The Best Crypto to Buy Now?
- Can Sponge V2 Experience a 100x Surge Similar to Sponge V1 Upon Its Launch in 2024? Conor Kenny Presale Review
- $SPONGE Crypto Price Surge Sparks Speculation on SPONGE V2’s Meme Coin 100x Potential
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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