Blockchain

Samoyedcoin Price Prediction: SAMO Soars 16%, But Analysts Say Consider This Surging Presale For 100X Gains

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The Samoyedcoin price is up 16% in the last 24 hours to trade for $0.011314 as of 12:50 a.m. EST time.

It comes as SAMO tries to recover after a prolonged downtrend, with investors responding to a recent roadmap shared by the network on X.

Based on the outlook of the Relative Strength Index (RSI), the Samoyedcoin price could record more losses over the coming days. Potentially, it could go as low as testing the critical support at $0.010685 as the RSI hints at falling momentum.

If the RSI continues south, it could soon record a bearish crossover with the signal line (yellow band). The RSI crossing below this band is interpreted as a sell signal, while a cross above is taken as a buy signal.

It comes amid growing overhead pressure, indicated by the confluence of resistance between the 50- and 200-day Simple Moving Averages (SMAs) at $0.012696 and $0.012787 levels respectively. The 100-day SMA is also southbound, suggesting the south was the path with the least resistance.

With both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) indicators in negative territory, the bears have the upper hand. The dire case could see the Samoyedcoin price extend the fall, flipping the critical support into resistance before extending a leg to the $0.005000 psychological level.

TradingView: SAMO/USDT 8-hour chart

Converse Case

On the flipside, there is the chance that the Samoyedcoin price could find inflection around the critical support at $0.010685 level. This has happened four times already in 2024 as investors seized the opportunity to buy the dip.

This could see the Samoyedcoin price clear the resistance confluence between the 50- and 200-day SMAs before confronting the 100-day SMA at $0.014174. A break above this supplier congestion level could see the SAMO price contend against the supply zone, extending between $0.017100 and $0.019380.

To confirm the continuation of the uptrend, however, the Samoyedcoin price must record a candlestick close above the midline of the supply zone at $0.018276 on the 8-hour timeframe. In a highly bullish case, the price could extend the gains, flipping this supply zone into a bullish breaker before targeting the next supply zone between $0.023356 and $0.026900. Again, breaking and closing above the midline of this order block at $0.025193 on the 8-hour timeframe would confirm the continuation of the trend.

Meanwhile, analysts are calling investors’ attention to Sponge V2, a strong contender in the meme coin space with some saying it has the potential to 100X on launch.


Promising Alternative To Samoyedcoin

Sponge V2 is a meme coin presale breaking records despite a down market. Analysts say it is among the best meme coins with the potential for exponential gains. Sponge V2 is also among the top three presales to buy in 2024.

Taking the stage as the latest meme coin sensation, Sponge V2 builds atop its predecessor, Sponge V1, which made headlines during the May 2023 season with 100X gains. Sponge V1 also listed on major exchanges in 2023.

Its upgraded version, Sponge V2, takes the baton from the achievements of Sponge V1. It also brings forth better features and increased value for token holders.

With the bar set this high, Sponge V2’s imminent listing saw the meme coin’s market value jump 14% on January 19, contravening the bearish sentiment seen in most meme coins. Over the last year, Sponge price has soared over 1,195%.

With Sponge V2 poised to surpass the achievements of Sponge V1, enlightened investors are already showing support. Drawn to the project’s new features and benefits for token holders, traders look to capitalize on the new avenues. These include exploring iconic locales, navigating thrilling obstacle courses, and potentially unlocking lucrative rewards.

The project introduces a unique token distribution method, Stake-to-Bridge. Here, users stake their older tokens for the new version.

The staking function has received massive support, with upwards of 5.624 billion tokens already staked. The holders enjoy an impressive annual percentage yield (APY) of over 287%.

Spong V2 stake

New entrants into the Sponge V2 ecosystem can acquire the tokens through the website using ETH, USDT, or a credit card.

For more information, see our guide to the best staking platforms or visit Sponge V2 website here.

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