{"id":469802,"date":"2024-01-03T17:20:27","date_gmt":"2024-01-03T17:20:27","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=469802"},"modified":"2024-01-03T17:20:27","modified_gmt":"2024-01-03T17:20:27","slug":"coq-inu-price-prediction-coq-plunges-12-but-meme-coin-competitor-sponge-soars-25-in-a-week-amid-fomo-on-spongev2","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/coq-inu-price-prediction-coq-plunges-12-but-meme-coin-competitor-sponge-soars-25-in-a-week-amid-fomo-on-spongev2","title":{"rendered":"Coq Inu Price Prediction: COQ Plunges 12%, But Meme Coin Competitor Sponge Soars 25% In A Week Amid FOMO On SpongeV2"},"content":{"rendered":"

Coq Inu price has dropped 12% to trade for $0.000001727 as of 6:40 a.m. EST time, with a 25% drop in trading volume.<\/p>\n

The Coq Inu ecosystem is built atop the Avalanche (AVAX) blockchain. As such, sentiment from its basal blockchain tends to affect the COQ token. Accordingly, the 12% drop in Coq Inu price follows a 7% drop in Avalanche price.<\/p>\n

\"Coq<\/a>
TradingView: COQ\/USDT 3-hour chart, AVAX\/USDT 3-hour chart<\/a><\/figcaption><\/figure>\n

Coq Inu Price Outlook As Sentiment From The Avalanche Blockchain Influences The COQ Market<\/h2>\n

The Coq Inu price is trading within the lower half of the Bollinger Band indicator. It faces immediate resistance due to the 50-day Moving Average (MA) at $0.000001858. The inclination of the Relative Strength Index (RSI) to the south shows that momentum is falling. With this, Coq Inu price could drop before a potential move north.<\/p>\n

If the bears have their way, Coq Inu price could break below the support offered by the lower band of the Bollinger indicator at $0.000001664. In the dire case, the slump could extend for the price to lose the critical support at $0.000001630.<\/p>\n

This bearish thesis is accentuated by two indicators. First, the negative reading on the Awesome Oscillator (AO) then the Moving Average Convergence Divergence (MACD). Both their histogram bars are flashing red to show the bears have established a strong presence in the COQ market.<\/p>\n

\"Coq<\/a>
TradingView: COQ\/USDT 3-hour chart<\/a><\/figcaption><\/figure>\n

Converse Case<\/strong><\/h4>\n

If history is enough to go by, however, then Coq Inu price could be coiling up for a move north after a recent correction. This has happened multiple times before, as indicated by the wavelike motion of the red and green arrows. The $0.000001630 critical support level could hold, with buying pressure from this buyer congestion level likely to see Coq Inu price push north.<\/p>\n

The ensuing buying pressure could see Coq Inu price overcome the resistance due to the 50-day MA at $0.000001858. Further north, the gains could extend for the price to tag the resistance confluence between the centerline (yellow band) of the Bollinger indicator and the 200-MA around the $0.000002011 level.<\/p>\n

In a highly bullish case, the gains could extend for the price to flip the resistance due to the Parabolic SAR indicator into support and use it as the jumping-off point to target the upper band of the Bollinger indicator at $0.000002338.<\/p>\n

The very ambitious case could see Coq Inu price break past the Bollinger band upper bounder towards the range high at $0.000004059.<\/p>\n

Meanwhile, while the Avalanche-based meme coin works out the next move, investors have shifted their gaze to Sponge V2<\/a>, a stake-to-bridge project with the potential for 100X gains, just like its predecessor.<\/p>\n