{"id":482343,"date":"2024-02-21T12:25:48","date_gmt":"2024-02-21T12:25:48","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=482343"},"modified":"2024-02-21T12:25:48","modified_gmt":"2024-02-21T12:25:48","slug":"elon-mars-x-price-prediction-emx-soars-47-in-a-week-as-this-meme-coin-sensation-prepares-to-100x-again","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/elon-mars-x-price-prediction-emx-soars-47-in-a-week-as-this-meme-coin-sensation-prepares-to-100x-again","title":{"rendered":"Elon Mars X Price Prediction: EMX Soars 47% In A Week As This Meme Coin Sensation Prepares To 100X Again"},"content":{"rendered":"

The Elon Mars X price <\/span>surged<\/span><\/a> more than 47% over the past week to trade at $0.000006088 as of 2:00 a.m. EST as investors bet big on the newly-launched meme coin.<\/span><\/p>\n

EMX is the latest meme coin inspired by tech mogul and SpaceX founder Elon Musk. Other meme coins that took inspiration from the billionaire include Dogelon Mars (ELON), Baby Elon (BABYELON), and Elon Musk (MUSK), not to mention Dogecoin (DOGE) and Grok (GROK).<\/p>\n

Elon Mars X Price Outlook<\/span><\/h2>\n

\"$EMX\/USD<\/p>\n

1-hour chart for EMX\/USD (Source : <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

The <\/span>Elon<\/span><\/a> Mars X price is currently resting on the 9 Exponential Moving Average (EMA) line on its hourly chart as it attempts to challenge the resistance level at $0.000006133. Overcoming this barrier within the next 6 hours could lead to the meme coin rising to the subsequent threshold at $0.000007462 in the following 6 hours. <\/span><\/p>\n

However, a break below the 9 EMA line in the coming hours may invalidate this bullish thesis. In this alternative scenario, the Elon Mars X price may drop below the 9 EMA line. It will then have the 20 EMA line on the hourly chart as its last line of defense before it potentially drops to the next key support at $0.000004657. In an extremely bearish scenario, the meme coin could be at risk of dropping to as low as $0.000003291 in the short term.<\/span><\/p>\n

Technicals Suggest The Elon Mars X Price May Correct In The Short Term<\/span><\/h2>\n

Technical indicators on EMX’s hourly chart suggest the Elon Mars X price may drop in the next few hours. The Moving Average Convergence Divergence (MACD) indicator shows that EMX’s bullish trend is in the process of transitioning to a bearish cycle. This is evident by the MACD line dropping towards the MACD Signal line. An intersection between these two technical indicators may be a confirmation that EMX has entered a bearish cycle.<\/span><\/p>\n

In addition to this, the Relative Strength Index (RSI) line is sloped negatively towards oversold territory. This may be indicative of sellers growing stronger against buyers. Lastly, there is also a strong negative trend line that has formed on EMX’s hourly chart that the <\/span>meme coin<\/span><\/a> will need to overcome before it can begin to rise.<\/span><\/p>\n

While EMX attempts to break above resistance in the next few hours, <\/span>Sponge V2<\/span><\/a> looks to be on track to repeat its prior 100x success after it surged more than 39% over the past 7 days.<\/span><\/p>\n

A Potential 100X Opportunity<\/span><\/h2>\n

Sponge V1 managed to soar 100x shortly after its launch during the 2023 bear market to also reach a peak market cap of $100 million. Now, the Sponge team has returned to offer investors who missed the substantial returns posted by Sponge V1 a second opportunity at whopping gains with the latest iteration of the meme coin.<\/span><\/p>\n