{"id":476841,"date":"2024-01-31T16:43:39","date_gmt":"2024-01-31T16:43:39","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=476841"},"modified":"2024-01-31T16:43:39","modified_gmt":"2024-01-31T16:43:39","slug":"wen-price-prediction-wen-plummets-23-as-analysts-say-the-second-coming-of-this-meme-coin-might-100x","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/wen-price-prediction-wen-plummets-23-as-analysts-say-the-second-coming-of-this-meme-coin-might-100x","title":{"rendered":"Wen Price Prediction: WEN Plummets 23% As Analysts Say The Second Coming Of This Meme Coin Might 100X"},"content":{"rendered":"

The Wen price has plunged by 23% in the last 24 hours to trade at <\/span>$0.00008629<\/span><\/a> as of 8:50 a.m. EST.<\/span><\/p>\n

Wen Price Prediction<\/span><\/h2>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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).<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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WEN 1-day chart | Source: TradingView<\/a><\/p>\n

Meanwhile, as the Wen price plunges, Sponge V2, the successor to Sponge ($SPONGE), is attracting investors’ interest and is ranked among the <\/span>top meme coins of 2024<\/span><\/a>.<\/span><\/p>\n

Wen Price Prediction: Is Sponge V2 A Better Investment? <\/span><\/h2>\n

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.<\/span><\/p>\n

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. <\/span><\/p>\n

One of the many new and exciting features introduced by <\/span>Sponge V2<\/span><\/a> is Play-to-Earn (P2E) gaming. Exciting gameplay and user participation are brought together in perfect harmony by this revolutionary innovation.<\/span><\/p>\n

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10 exchanges not enough? 😉#SpongeV2<\/a> will be listed on BIGGER AND BETTER exchanges! 🔥<\/p>\n

You’re not ready for what’s coming next 👀#SpongeV2<\/a> #MemeCoin<\/a> #Presale<\/a> pic.twitter.com\/LdXRYu65Z8<\/a><\/p>\n

— $SPONGE (@spongeoneth) January 23, 2024<\/a><\/p><\/blockquote>\n