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The SLUMBO price tumbled 70% in the last 24 hours to trade at $0.0001094 as of 00:43 a.m. EST on trading volume that plunged 8% to $1.2 million.
The SLUMBO token surged to an all-time high (ATH) of $0.0012 on launch on June 22 but has now fallen 71% from its peak, according to GeckoTerminal data.
But with its developer planning a massive token burn, the SLUMBO price could be poised for a significant bullish reversal.
SLUMBO Price Gearing Up For A Trend Reversal
In the past day, the price of SLUMBO has been on a downtrend, falling from the $0.00060 resistance level and negating the bullish sentiment of the cup and handle pattern at this resistance.
The token has been trading within a falling wedge pattern, finding support around $0.0000852. SLUMBO bulls are aiming to leverage this support to push the token above the wedge.
However, SLUMBO still trades below both the 50-day and 200-day Simple Moving Average (SMA), which coincides with the token’s recent downtrend. The $0.00017 and $0.00036 are now acting as the immediate resistance levels that SLUMBO needs to overcome for a bullish rally.
The Relative Strength Index (RSI) is now trading down within the 30-oversold levels, currently at 35, which is a sign that sellers have an upper hand.
SLUMBO price analysis indicates that the token is on a strong bearish trend, with the token trading below both the 50-day and 200-day SMAs, and is set to breach the $0.0000852 support level. In this scenario, the $0.00006 could offer a cushion against downward pressure.
The RSI shows that the token is now oversold, which may prompt the bulls to start a bullish buyback campaign. In this case, they may overcome the resistance levels to target the next resistance zone around $0.00060.
As the SLUMBO price bulls search for more buying signals, investors are rushing to buy the new Solana meme coin Sealana (SEAL) before it’s presale closes tomorrow.
Sealana Raises Over $5 Million – Last Chance To Buy
Sealana is riding the wave of success with over $5 million raised in presale, but time is running out for potential investors as the presale concludes on June 25 at 6 p.m. UTC.
#Sealana has got some big news for y'all today! 🦭🍻 After a long night of drinking, doin' American $SEAL things 🇺🇸 and blacking out! 😵 He woke up with some real mental clarity and made the call that the #Presale's gonna end on June 25th at 6 pm UTC! ⏰
You know what that… pic.twitter.com/va7W8abVjb
— Sealana (@Sealana_Token) June 6, 2024
SEAL is a Solana-based meme coin that features a chubby seal mascot inspired by South Park’s infamous “World of Warcraft guy.” Once sleek and agile, this character is now messy and obese, driven by an insatiable appetite for junk food and the search for the next big Solana meme coin.
The token is launching on Solana, a network that remains the top Layer 1 chain for launching meme coins, thanks to its unmatched speed and transaction efficiency.
According to crypto analyst and YouTuber, Crypto Boy, $SEAL has the potential to soar 100X after its launch.
SEAL tokens are available for only $0.022. There is only a little more than one day left until the presale ends so buy soon.
To participate in the presale, visit the official website to buy SEAL tokens here.
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