VTHO Soars 42%, but Consider This Altcoin with a 100x Outperformance for Explosive Profits

The VeThor token price has surged more than 42% in the past 24 hours, trading at $0.006267 as of 2:30 AM ET, while trading volume has surged more than 100% to $352 million.

The main driver of the price surge is believed to be a significant increase in open interest due to short selling liquidation. Prices rose as traders adopted a FOMO attitude. VTHO was not the only one affected, as similar growth also affected VeChain’s VET token.

VeThor Token Price Prediction

Despite the rise in price of the VeThor token, many in the cryptocurrency community are unsure what is next on the token’s agenda.

This rally has occurred for fundamental reasons rather than technical, but now that the hype appears to have peaked, traders and investors are turning to technical indicators to infer where the token will go from here.

Looking at the 30-minute chart, it is clear that the token’s Bollinger Bands remain fairly wide, especially when compared to the situation two days ago. Prices have been above the upper band for some time and remain extremely bullish.

On the other hand, the token’s Relative Strength Index (RSI) levels are once again approaching overbought territory, suggesting that a correction could begin in the near future. Last time the price of the token caused RSI to enter overbought territory, the price fell to the support level of $0.0050.

This is a strong level to prevent prices from falling again, and may even stabilize beyond that if a correction occurs. Once VTHO reaches stability, this support can also be used to initiate future growth attempts.

At this point, it seems unlikely that the token will surpass the $0.0070 level, as VTHO appears to be losing purchasing power. However, if the uptrend surpasses this level, the token will have an open path towards $0.009889.

A promising alternative to VeThor tokens

Analysts say that one of the best alternatives to VeThor tokens right now is Sponge V2. This is a new version of the popular cryptocurrency project $SPONGE, originally launched in 2023 and features a 100x pump after launch.

However, Sponge V1 has since been discontinued, and the team instead began work on version 2, which was bigger and better than the original.

You haven’t seen anything yet! 🧽🧽#SPONGEV2 It’s coming hot 🔥#memecoin #bull market #Binance #Coinbase #Cryptocurrency #100x #how pic.twitter.com/db32pVByQ8

— $SPONGE (@spongeoneth) February 7, 2024

The promise of a much better alternative quickly began to attract users’ attention, especially after the project bridged SPONGE from V1 to V2. Beyond that, users can stake SPONGE to earn more profits.

Users interested in purchasing and staking sponges can do so on the platform where tokens can be purchased for $0.001116. You can earn them by exchanging them for ETH or USDT, or join others who have staked their bets.

To date, the total amount staked and bridged has exceeded $10 million, and that figure continues to grow every day. Given the success of the first SPONGE, many expect V2 to have an even bigger pump effect and generate even more revenue this time around.

Of course, this is speculation, but people with past experience with the project and its team were willing to stake $10 million worth of SPONGE, which shows how excited they are for round 2.

Visit Sponge V2 here.

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