Is Cosmos About to Crash? ATOM Price Dips 1.7% Amid Rising Hype for This New Project

Is Cosmos About to Wreck? ATOM Effect Dips 1.7% Amid Rising Hype for This New Venture

Cosmos (ATOM) has fallen 1.7% within the past 24 hours, leaving worried holders asking ‘is Cosmos about to smash?’.

This text will present an prognosis of ATOM’s most fresh price trends and gape to gape whether or now now not a extra most fresh meme coin, SPONGE V2, represents a extra promising investment different presently.

A entire bunch declare about $ATOM trading unprecedented fancy a $10 stablecoin 😂

Sufficient, I will form of search for what you mean!

Nonetheless let’s now now not put out of your mind the entire #Airdrops now we have had for $ATOM stakers!$SHD, $JUNO, $OSMO, $STARS, $STRD, $NTRN, $TIA, $DYM…

Give it some belief or now now not there were over 50!

And… pic.twitter.com/PzlDV85Djg

— Airdrop.Glideapp.io (@AirdropGlideapp) February 9, 2024

Sentiment on ATOM within the crypto community remains blended, with some analysts highlighting that Cosmos has spent bigger than 3 months trading in an appealing fluctuate between $8-12 while the rest of the market has pumped.

ATOM Effect Evaluation: As ATOM Holds Place Despite Retracement – Is Cosmos About to Wreck?

With price action reeling from the minor downtick, ATOM is currently trading at a market price of $10.22 (representing a 24-hour alternate of -0.20%).

This comes as ATOM price fights to push up from 20DMA make stronger (stood at $9.57), which used to be lately reclaimed in a +6.5% pass on February 7.

The reclamation of the 20DMA marks a dramatic twist and foremost technical strengthening, after the foremost full of life moderate acted as a capstone of descending resistance all the contrivance in which by the month of January.

Meanwhile, the 200DMA is continuing to bolster price action, with a supportive floor spherical $8.64.

Despite lacklustre actions all the contrivance in which by the previous couple of months, ATOM price is peaceable trading up 34.93% all the contrivance in which by the last 6-months, having pushed up from an accumulation zone down between $6-7.

Yet, it appears to be like there is exiguous skill for a push up from here on the immediate timeframe, with the RSI indicator currently signalling a tumultuous 59.74 – overbought bearish divergence.

This meets with minor distinction from the MACD, which is reflecting the leap-off the 20DMA with a minor bullish momentum indication at 0.137.

Total, ATOM price prognosis paints a image of technical strengthening after months of suppressed price action, if consolidation at most fresh levels is properly-defended – then price action might perhaps more than likely more than likely push up as soon as the RSI has cooled-off.

ATOM price as a result of this truth has an upside target at $11.25 (a most likely +9.8%).

While downside threat for ATOM price stands at $8.80 (a imaginable -14.11%).

As a result, ATOM price prognosis unearths a most fresh Cosmos threat: reward ratio of 0.69 – a depraved entry dominated by downside threat.

Nonetheless while ATOM price affords an unappealing entry level, a more in-depth play is emerging with Sponge V2, which targets to repeat the success of the 2023 Sponge breakout.

Sponge V2 Delivery ($SPONGEV2): Closing Likelihood to Aquire – Poised To Outperform ATOM Effect Evaluation

Sponge V2, the latest iteration of the neatly-known Sponge ($SPONGE) meme coin, is making waves within the cryptocurrency market.

Following the out of the ordinary success of Sponge V1, which peaked at practically $100 million in market cap and collected over 13,000 holders, Sponge V2 arrives with promising innovations and alternatives for investors.

WE ARE NOT THE SAME. 🔥🔥🔥$SPONGE #SpongeV2 #Crypto #Web3 #PEPE #DOGE #FLOKI #Alts pic.twitter.com/iIHmKMnrrV

— $SPONGE (@spongeoneth) February 15, 2024

Gain Sponge V2, Staking Mechanics outlined and P2E Integration

Acquiring Sponge V2 is difficult:

• Stake Sponge V1: Aquire and stake V1 tokens by the exhaust of Sponge.vip or stake your present V1 tokens.
• Diagram More V2: The longer and extra V1 tokens you stake, the extra V2 tokens you manufacture.

Read extra: Ideal Crypto to Invest In 2024

Sponge V2 introduces Play-to-Diagram (P2E) utility, enhancing its ecosystem.

Stake your V1 tokens to fabricate V2, and interact within the upcoming P2E sport to fabricate further $SPONGEV2 tokens.

Moreover, this P2E sport, a new utility within the Sponge ecosystem, will feature both free and paid variations for enhanced gaming and earning experiences.

Extraordinary Aspects of Sponge V2 Over ATOM Effect Evaluation

• Unfamiliar Gain admission to: Diagram $SPONGEV2 solely by $SPONGE staking.
• Bonus Rewards: Making an strive to hunt out and staking $SPONGE affords special $SPONGEV2 bonuses.
• Passive Earnings: Staked $SPONGE tokens yield passive rewards, beginning at a minimal 40% APY.
• Permanent Transition: Staking V1 tokens will result of their permanent locking, transferring the level of curiosity to V2 put up-originate.

Sponge V2 Roadmap and Future Potentialities

Sponge V2’s roadmap is ambitious, focusing on 10,000 holders, Tier 1 CEX listings, and a $100M market cap.

The originate levels comprise the Sponge sport’s pattern and the Sponge V2 command and listing.

Sponge V2 is now now not true a sequel to its predecessor; it’s a reinvention with a spotlight on utility and community engagement.

The combination of P2E and distinctive staking mechanisms produce it a standout mission within the meme coin area.

Put updated on Sponge V2’s hurry by social channels and jam its boost within the crypto world.

Gain Sponge V2 Right here

Disclaimer: Crypto is a excessive-threat asset class. This text is supplied for informational capabilities and would now not constitute investment recommendation. You might perhaps more than likely more than likely lose all of your capital.

Source : cryptonews.com