As Solana meme coins continue to post astronomical pumps, SPACEX token has emerged as the latest skyrocket with a stunning +20,000% move. Here’s the latest price analysis and a look at another coin that is about to explode.
Indeed, this price pump comes as recent months have seen a huge trend in explosive moves, with countless Solana meme coins garnering significant attention, including ‘2024′, SOLAREUM, Joe on SOL, BINK, BONG, MUSK, FLUB, PUMA, HOPPY and SPX.
SpaceX token appears to be backed by development in the Sol Wars ecosystem, which is aiming to deliver a high-octane retro space-shooter style play2earn (P2E) game – however, controversy around the legitimacy of the development team’s intentions has triggered localized downside movements.
SPACEX Price Analysis: As SpaceX Token Skyrockets An Incredible +20,000% on DEXTools – Is Retrace Move Inbound?
As price action tumbles down, SpaceX is currently trading at a market price of $0.3635 (Representing a 24-hour change of +306,881%).
This comes after SpaceX price exploded from lower support around $0.0039 at 12:00 (UTC) on February 4, in a sudden upside move that saw price action accelerate +27,635%.
With almost 23-hours of consecutive green candles, the SpaceX rally saw price hammer-up to an all-time high at $0.42 at 8:00 on February 5.
This stalling at the upper trendline has welcomed retracement risk into the chart, with SpaceX price already reacting with a -14.5% minor localized retracement.
Indeed, with sell-pressure now taking hold – representing 60% of transactions over the past hour, it appears SpaceX may be on the precipice of a major sell-off move.
Especially as 207 early backers look to secure their slice of the astronomical move and take profit.
Further risk emerges when SpaceX price analysis shifts to a comparison of the token’s comparatively large market cap (stood at $3.6m) with its meagre liquidity pool (Stood at $34k).
Worse still, SpaceX token’s liquidity pool remains unlocked – which opens the door to the risk of liquidity being removed at any time – a red-flag reading honey pot trader for long-term holders.
Overall, with a large incentive for early-backers to take profit and secure their gains, and a potential castle made of sand outlook due to the meagre unlocked liquidity pool – SpaceX token currently represents a bad entry in Solana memecoin markets.
This is driving attention to the tail-end of a lucrative memecoin presale which is tipped for imminent exchange listings – that many analysts are highlighting could trigger significant price growth.
Sponge V2 Launch ($SPONGEV2): Last Chance to Buy – Poised To Outperform SpaceX Token and Other Solana Memecoin?
Sponge V2, the latest iteration of the renowned Sponge ($SPONGE) meme coin, is making waves in the cryptocurrency market.
Following the phenomenal success of Sponge V1, which peaked at nearly $100 million in market cap and amassed over 13,000 holders, Sponge V2 arrives with promising innovations and opportunities for investors.
Today is your last chance to stake your $SPONGE V1 tokens before the transition to #SPONGE V2!
Deadline: 5th February 11 PM UTC
If you do not stake your $SPONGE tokens you will not recieve any #SPONGEV2.#MemeCoin #Presale #Web3 #Crypto #Binance #Altcoins pic.twitter.com/IUSHYrv014
— $SPONGE (@spongeoneth) February 5, 2024
How to Acquire Sponge V2
Acquiring Sponge V2 is unique:
Stake Sponge V1: Buy and stake V1 tokens via Sponge.vip or stake your existing V1 tokens.
Earn More V2: The longer and more V1 tokens you stake, the more V2 tokens you earn.
Read more: Best Crypto to Invest In 2024
Staking Mechanics and P2E Integration
Sponge V2 introduces Play-to-Earn (P2E) utility, enhancing its ecosystem.
Stake your V1 tokens to earn V2, and engage in the upcoming P2E game to earn additional $SPONGEV2 tokens.
Moreover, this P2E game, a new utility in the Sponge ecosystem, will feature both free and paid versions for enhanced gaming and earning experiences.
Unique Aspects of Sponge V2 Over SpaceX Price Analysis
Exclusive Access: Earn $SPONGEV2 exclusively through $SPONGE staking.
Bonus Rewards: Buying and staking $SPONGE offers special $SPONGEV2 bonuses.
Passive Earnings: Staked $SPONGE tokens yield passive rewards, starting at a minimum 40% APY.
Permanent Transition: Staking V1 tokens will result in their permanent locking, shifting the focus to V2 post-launch.
Roadmap and Future Prospects
Sponge V2’s roadmap is ambitious, targeting 10,000 holders, Tier 1 CEX listings, and a $100M market cap.
The launch stages include the Sponge game’s development and the Sponge V2 claim and listing.
Sponge V2 is not just a sequel to its predecessor; it’s a reinvention with a focus on utility and community engagement.
The integration of P2E and exclusive staking mechanisms make it a standout project in the meme coin domain.
Stay updated on Sponge V2’s journey through social channels and witness its growth in the crypto world.
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