Sponge Price Prediction: $SPONGE Pumps 17% After Soaring 165% In A Week As New Meme Coin Presale Sparks FOMO

Updated: 12 November 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Sponge price is up 27% in the last 24 hours, despite a 35% drop in trading volume to trade at $0.00030747 as of 11:45 a.m. EST.

The token is performing remarkably well, despite it being a weekend when retail traders tend to take the back seat. It is following the king of crypto, Bitcoin (BTC), which continues to hold steady above $37,000.

SPONGE token features among the top gainers today, as it has done for two days in a row. On Nov. 11, SPONGE also featured on Gate.io’s top five and began giving a “strong buy.” Judging from the technical indicators, the upside potential remains alive for Sponge price.

SPONGE Prognosis As Sponge Token Price Confronts A Stiff Resistance

Sponge token price is confronting the $0.000226 resistance level, a formidable barricade that has been in play since June. Nevertheless, technical indicators show that Sponge token price could still extend the ground covered, breaking past the stiff resistance to tag the $0.000250 level.

Further north, Sponge token price could extend the gains to tag the $0.000300 psychological level or in a highly bullish case, stretch further to clear the $0.000350 range high.

The Relative Strength Index (RSI) points to an overbought asset above the 70 level. However, the fact that it continues to point north shows that momentum is still rising. This adds credence to the bullish thesis.

Rising in tandem with the RSI, the Awesome Oscillator (AO) is also showing rising histogram bars, flashing green while sustaining in the positive territory. This shows bulls are still leading the SPONGE market. It supports the bullish outlook.

Conversely, a rejection from the stiff resistance at $0.000226 could send Sponge price down, potentially testing the critical support at $0.000161. A break and close below this level would invalidate the bullish thesis.

Promising Alternative To SPONGE

Meanwhile, MK token, which features among the top five crypto presales to buy now, looks unstoppable. It boasts a presale that is recording one of the biggest successes in the history of presales.

So far, the project has raised upwards of $1.57 million out of the $2 million target. Traders are buying the altcoin for $0.189 using Ethereum (ETH), Tether (USDT) stablecoin or bankcards.

MK powers the Meme Kombat ecosystem, the hottest stake-to-earn project giving gaming enthusiasts a chance to battle in the arena with meme characters of their choice.

If $GROK had to fight in Kombat, who would beat it?

Also, what form would Grok take when fighting? pic.twitter.com/Rsi9h8eoRD

— Meme Kombat (@Meme_Kombat) November 8, 2023

Token holders do not have to wait until the presale is over for them to start earning from their holdings. This is because the staking dashboard is already up, with stakers getting Annual Percentage Yields (APY) as high as 958%.

This staking function is recording so much demand, with the project recording up to 100 stakers within the first hour after the function launched.

100 stakers within the first hour🔥

Kombat is for everyone🫡 pic.twitter.com/DT1VdjS4WR

— Meme Kombat (@Meme_Kombat) November 9, 2023

As of the time of this writing, almost 4.2 million MK tokens have been staked, constituting 43% of the entire supply. Total rewards that have already been paid add up to 170,642, given to 1155 stakers as of press time. This is testament to why Meme Kombat is the fastest growing stake-to-earn meme crypto.

Notably, the $0.189 price tag will only be on the shelves for the next four days. Come November 17, the price will rise, meaning now is the time to buy this crypto presale for early entrant profits.