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The Wen price has plunged by 23% in the last 24 hours to trade at $0.00008629 as of 8:50 a.m. EST.
Wen Price Prediction
Looking to 1-hour WEN / USDT charts, we see that the price appears to be in a downtrend, as evidenced by the series of lower highs and lower lows. The Bollinger Bands are narrowing, which often indicates a period of lower volatility that might precede a significant price move.
The price is also currently sitting just above the 20-period Simple Moving Average (SMA) on the Bollinger Bands, suggesting a potential area of short-term support or resistance. However, the price is headed below the 20-period SMA (Orange MACD line), indicating building bearish momentum.
Additionally, the Relative Strength Index (RSI) is around 44, which is below the midpoint of 50. This indicates that momentum is currently more bearish than bullish, but it is not in the oversold territory (which would be indicated by an RSI below 30).
On the other hand, wee see that the Moving Average Convergence Divergence (MACD) is above the signal line, which could show some bull activity. However, the bars on the histogram appear to be shortening as they head for the red zone, which might indicate that the bearish momentum.
The Awesome Oscillator (AO) is below zero, which typically indicates bearish market pressure. However, the green histograms heading towards the zero line suggest building bullish momentum.
The most recent candlesticks show some indecision, with small bodies and shadows on both sides. This indecision could be indicative of a potential reversal or consolidation, but it’s not definitive without further confirmation.
WEN 1-day chart | Source: TradingView
Meanwhile, as the Wen price plunges, Sponge V2, the successor to Sponge ($SPONGE), is attracting investors’ interest and is ranked among the top meme coins of 2024.
Wen Price Prediction: Is Sponge V2 A Better Investment?
Following its launch on prominent centralized cryptocurrency exchanges such as LBank, Toobit, and BitMart last year, SpongeV1 surged 100x, garnered over 13,000 investors and subsequently achieved a market valuation above $100 million.
Worry not if you were unable to witness Sponge’s 100x growth last year. You will have another opportunity when Sponge V2 is listed on major global cryptocurrency exchanges.
One of the many new and exciting features introduced by Sponge V2 is Play-to-Earn (P2E) gaming. Exciting gameplay and user participation are brought together in perfect harmony by this revolutionary innovation.
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
Endorsed By Justin Sun
Tron creator Justin Sun bought $SPONGE tokens that are now valued at around $90,000. He had announced on X his intention to put money into meme coin projects that showed promise.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
With its groundbreaking stake-to-earn strategy, Sponge V2 offers a 249% yearly return. The combined worth of all Sponge V2 coins, staked and bridged, has surpassed $3.7 million.
Sponge V2 may be even more popular than Sponge V1, according to influential YouTuber Conor Kenny, who has over 178,000 followers. The token might explode with 100x gains on launch, he said.
Sponge V2 may be easily acquired by connecting your wallet to the SpongeV2 website to buy Sponge tokens using Ethereum or USDT, which are then staked for the equivalent amount of V2 tokens. The use of a credit card also provides an additional convenient alternative.
For those looking for presales with explosive gains, Sponge V2 may be purchased here on the official website.
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