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Saudi Bonk Price Prediction: SAUDIBONK Plummets 66% As Analysts Say This Meme Coin Might 100X Again

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Saudi Bonk price
Saudi Bonk price

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The Saudi Bonk price has dipped 66% in the last 24 hours to trade for $0.000001626 as of 3:05 a.m. EST time.

With this drop, trading volume has dropped by 30%, with these pointing to investor attention and interest shifting away from SAUDIBONK.

It comes after the meme coin was trending, taking the second top spot on CoinMarketCap, with speculation of a big announcement coming.

According to the network’s official X account, the token will be listed on a major top-tier centralized exchange (CEX) soon.

It appears therefore that investors are cashing in early on the hype of the announcement. The dip could be a buy opportunity for investors before the SAUDIBONK ecosystem confirms which CEX will be listing the token, and when. Once the news is out, the price could surge before another drop, typical of the buy the rumor sell the news situation.

Saudi Bonk Price Outlook

From a technical standpoint, the downtrend may not be over yet for the Saudi Bonk price, with overhead pressure mounting. This is seen in the position of the Parabolic Stop and Reverse (SAR) indicator that at $0.000009367. For as long as this price-tracking indicator trails an asset from above, the price is bound to continue south.

The Relative Strength Index (RSI) is also nose-diving, interpreted as momentum falling. With this, the Saudi Bonk price could likely continue falling. In the dire case, this could see the meme coin retest the mid-January lows of $0.00000002576.

Saudi Bonk

TradingView: SAUDIBONK/USD 1-day chart

Converse Case

If the SAUDIBONK bulls seize the opportunity to buy the dip, it could recover. Key levels to watch in a northbound directional bias include the immediate barrier at $0.000004749. Next, would be the $0.000006688 barrier, or higher, the $0.000007686. In a highly bullish case, the Saudi Bonk price could climb to the $0.00001168 level, a formidable barrier that capped the meme coin’s upside potential twice already.

Meanwhile, experts say Sponge V2 is poised to repeat the success of its predecessor, $SPONGE, which recorded 100x gains after its launch last year.

Promising Alternative To Saudi Bonk

Sponge V2 is a meme coin poised for exponential gains, according to analysts, after it announced the discontinuation of its predecessor, Sponge V1. The project will migrate to the SPONGE V2 Polygon version of the digital asset. It comes after a recent malicious attack on its liquidity pool.

The move is a precaution to prevent future attacks as all Sponge holders migrate to Polygon. There, they can enjoy more security, efficiency, speed, and affordability.

Those who do not already hold SPONGE V1 must purchase the V1 version. You can then stake these holdings in the bridging contract. Find details on the website.

The Sponge team will migrate Sponge V2 to the highly scalable and rapidly growing Polygon network on February 5, today, at 11:00 pm UTC.

With the ultimate goal to soak up liquidity from the competition, Sponge V2 is absorbing all the damp through its staking dashboard. Here, token holders can 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. Meanwhile, token holders are enjoying annual percentage yields (APY) as high as 211%, with upwards of 7.656 billion tokens already staked. That’s a key reason why analysts rank it among the top five cryptos to invest in now.

Buy and stake $SPONGE today and it could set up your crypto portfolio for spectacular returns.

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