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The Solympics price tumbled 4% in the last 24 hours to trade at $0.002202 as of 00:37 a.m. EST on trading volume that plunged 52% to $1.42 million.
This comes after the token surged 239% in a week ahead of the start of the Paris Olympics on July 26.
Solympics Price Aims For A Bullish Trend Reversal
The Solympics price has been on a downtrend in the last two days, as it retraced to find support at $0.001462, before rebounding again to the $0.0028 resistance level, forming a rounding bottom pattern, according to data from GeckoTerminal.
The price of Solympics then invalidated the rounding bottom pattern, as it went through a correction to the current price.
The price correction is evident with the Relative Strength Index (RSI) trading on a downward trend, below the 50-midline level at 49, as it closes in on the 30-oversold level. The RSI current trend shows that the bears are actively selling, indicating that the token is undervalued.
However, Solympics still trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the bullish prospect of the asset.
As the token is undervalued, investors may start buying. With the token still trading above the main SMAs on the 15-minute chart, the Solympics price may reverse towards the $0.0028 resistance, forming a cup and handle pattern, which may propel the token to the target price set at $0.003618.
However, if the bears continue selling, the token may retrace further to the next support zone at $0.001995 (200-day SMA).
As one Olympics-themed coin slumps, another in presale called The Meme Games (MGME) is surging ahead with over $249K raised in just one week.
According to Jacob Bury, a popular crypto analyst on YouTube, $MGME has the potential to surge 10X after its launch.
The Meme Games Presale Amasses Over $249K In A Week – Best Meme Coin To Buy Now?
The Meme Games is a novel meme coin project that has emerged with a unique P2E ecosystem. It involves a gamified presale and offers a chance to interact with the Olympics in a whole new way.
CRYPTO BREAKING NEWS
The Meme Games raises over $100K on opening day of presale. The Meme Games presale raises over $100K in its first 24 hours, capturing attention in the booming memecoin sector. #partnercontent check us out @ https://t.co/8dh137buUp pic.twitter.com/YwzyP2glE4— InnovatekMobile (@Neome_com) July 17, 2024
The project brings an exhilarating fusion of the competitive spirit of the Olympics and the vibrant, fun-filled ecosystem of meme coins.
Token holders choose between meme coin giants PEPE, DOGE, BRETT, TURBO, and WIF to compete as athletes in the blockchain version of the Olympics. Backing the right one results in a 25% bonus on your investment in the token.
As a token holder, you also have a chance of earning passively through the project’s staking mechanism. All you have to do is buy and stake $MGME for an annual percentage yield (APY) of 999%.
You can buy $MGME tokens now for $0.00905 each. With a price hike coming in about 1 day, buy soon to lock in the best deal.
To join the presale, buy $MGME from the official website here using ETH, BNB, USDT, or a bank card. Buy now to win a 25% bonus on your investment.
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