Join Our Telegram channel to stay up to date on breaking news coverage
The Snek price climbed 22% in the last 24 hours to trade for $0.002092 as of 3:30 a.m. EST time with trading volume jumping 13%.
It comes amid an ongoing meme coin fever, with Dogecoin (DOGE), Shiba Inu (SHIB), Bonk (BONK), and Pepe (PEPE) also on a tear.
As the meme coin hype continued in the last two weeks of 2023, Snek has almost doubled its price in a week.
Alongside Solana blockchain’s BONK, Snek, which runs on Cardano, has featured among the top traded tokens on volume metrics.
969 Million Volume!
Getting ssso clossse to 1 Billion traded!
Wen $1 Billion?$SNEK #Cardano #memecoin #SNEK pic.twitter.com/mgvcB8rqpm
— Beignet 🐐🐍 (@BeignetTrading) December 19, 2023
This turnout has investors bullish on Snek price, with one analyst already visualizing the token recording a new all-time high soon.
$SNEK is 15% away from ATH.
Are you ready for price discovery ? 🐍🚀 https://t.co/1iQ2bFmzEv pic.twitter.com/UR8u7j8tky— Sssebi🦁 (@Av_Sebastian) December 19, 2023
Snek Price Prognosis
The Snek price is confronting the 78.6% Fibonacci level at $0.002291 in a market range measured from $0.000145 to $0.002875. Judging from the Relative Strength Index (RSI) outlook, SNEK is already massively overbought with the momentum indicator’s reading at 95.
Nevertheless, as long as the RSI remains northbound, the upside potential for the SNEK price remains alive. This is accentuated by the dominant presence of the bulls in the SNEK market, evidenced by the growing histogram bars of the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD). The position of both the AO and MACD is also a positive sign.
Enhanced buyer momentum could see Snek price extend the gains, filling the market range at $0.002875. In a highly bullish case, the gains could extend for the meme coin to record a new all-time high above the aforementioned level.
On the flip side, if profit-taking begins, Snek price could pull south, first losing the most important support due to the 61.8% Fibonacci level at $0.001832. Lower, the load-shedding exercise could send Snek price to test the 50% Fibonacci level at $0.001510. A break and close below this level would invalidate the bullish outlook.
This could set the tone for an extended move south, with Snek price likely to test the 38.2% Fibonacci level at $0.001188 or worse, the 3.6% Fibonacci level at $0.000790. Such a move would constitute a 65% drop below current levels.
Meanwhile, enlightened investors are looking at Sponge V2, the tuned-up version of Sponge that’s coming back better than ever!
📣 We’re excited to announce that #Sponge is bridging from V1 to V2!
Stake your $SPONGE to earn #SpongeV2 tokens. 🧽💦
Buy and stake now for a special V2 token bonus! Don’t miss out 🔥#MemeCoin #Web3 #BullMarket pic.twitter.com/bYmkg1TNrU
— $SPONGE (@spongeoneth) December 18, 2023
Promising Alternative To SNEK
Sponge V1, the predecessor of Sponge V2, made its debut during the May 2023 bear market, hitting an astronomical all-time high market capitalization of nearly $100 million. It delivered remarkable gains, with early investors raking in huge profits as the token went live on centralized exchanges.
Welcome to #SpongeV2, the relaunch and evolution of the original $SPONGE token! 🧽🧽🧽
We’re introducing a unique staking model and new #P2E game to take #Sponge to the next level.
Stay tuned for more info! 🙌⚡️#MemeCoin #BullRun #Crypto #Alts pic.twitter.com/H8iVXJaYLH
— $SPONGE (@spongeoneth) December 18, 2023
Sponge V2 takes things up a notch, giving users a chance to acquire the token either by buying or staking Sponge V1 through the Sponge.vip website’s buy widget. Alternatively, you could stake your Sponge V1 holdings through the Sponge.vip website.
Notably, the amount of V2 tokens earned is directly proportional to the amount of V1 tokens staked as well as the staking duration. Sponge V2 become claimable after the remaining supply of Sponge V1 is exhausted.
Meanwhile, the Sponge V2 team is developing a unique Play-to-Earn (P2E) game, which will deliver an exciting new utility to the token. Specifically, users will be able to earn $SPONGEV2 tokens by playing the game and ranking on the leaderboard.
Interestingly, both free and paid versions will be available on the game, making it possible for users to play for fun or use $SPONGEV2 tokens to purchase game credits for additional in-game earnings.
Investors who missed the Sponge V1 should not let the second version pass them by.
Visit Sponge V2 website to buy the meme coin here.
Also Read:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY
Join Our Telegram channel to stay up to date on breaking news coverage
