Bitcoin

Sei Price Prediction: SEI Up 180% in One Month as This 100X Outperforming Meme Coin Closes with $1.5 Million Raised.

adminJanuary 3, 2024

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Sei prices have surged 180% in the past month and 25% in 24 hours, with trading volume increasing 14%, to $0.7478 as of 3:40 AM EST.

This surge pushed the Sei price to an all-time intraday high of $0.8000 on January 2nd. The recent surge comes amid growing investor interest in SEI after an eventful 2023.

With a record of successful achievements in 2023, Sei Network achieved the milestone of over 1 billion transactions. This remains evidence that actual adoption is increasing.

Additionally, strategic partnerships with organizations such as Kryptonite and Gecko Terminal have helped expand the Sei ecosystem. Other added value includes planned upgrades such as EVM compatibility, which will help increase Sei’s attractiveness to decentralized app (dApp) developers.

Comparisons to networks like Solana have also raised expectations that SEI can achieve higher value. With this, SEI adoption continues to grow, driven by endorsements from major venture firms such as Multicoin Capital, an integration that has played a significant role in adding credibility to Sei’s position as a strong contender in the layer 1 (L1) sector.

SEIYAN Meme Coin Becomes Cult Term for SEI Holders

Sei price also benefited from the recent meme coin craze, with SEIYAN becoming a cult term for SEI token holders. Meme coin SEIYAN has seen an incredible surge, rising nearly 400% in a week, and the flood from this craze has flowed into the SEI market, causing a surge in Sei prices.

Sei price prediction through optimistic fundamentals complemented by technology

Sei prices are bullish, with enough ecosystem fundamentals to fuel a surge, and technical indicators are also supporting the bullish outlook.

Sei price crossed above the $70.5% Fibonacci retracement level of $0.5827 during the January 1 trading session. This came after three failed attempts, seeing the altcoin fill the market range between $0.0642 and $0.7997.

However, momentum appears to be waning as the Relative Strength Index (RSI) deviates from its previous northward move. Additionally, SEI is already massively overbought based on RSI’s 80. Depending on this outlook, a correction may be underway.

Nonetheless, investors who still hold long positions on SEI should not liquidate those positions until RSI approaches the 70 level. This is because upside potential remains high due to strong price strength, widespread market optimism, and the fact that the bulls remain strong in the SEI market.

Evidence of an uptrend in the SEI market can be seen in the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) in positive territory. Both histogram bars are flashing green, which emphasizes bullishness.

Additionally, MACD continues to rise after crossing above the signal line (orange band) on December 18th. This shows that the bulls are still on the path of least resistance.

Increasing buying pressure above current levels could lead to Sei price regaining the highs of the $0.8000 range or, if very bullish, clearing it to hit a new range above that.

6 prices6 prices
TradingView: SEI/USDT 1-day chart

converse case

On the other hand, with SEI already overbought, investors should also consider the possibility of a correction. This could cause the Sei price to fall, potentially losing the 70.5% Fibonacci support at $0.5827.

Further south, a recession could push Sei prices lower, falling 61.8% to $0.5188, the all-important Fibonacci index. However, for the bullish outlook to be invalidated, the sell-off would need to extend for the price to close below the 50% Fibonacci retracement at $0.4320 and the 38.2% retracement at $0.3452.

Investors looking to avoid the risks associated with Sei price may want to consider Sponge V2, one of analysts’ top picks for the best altcoins to invest in with maximum return potential.

A promising alternative to SEI

Sponge V2 is one of the 5 new cryptocurrencies to invest in in 2024. When purchasing or staking Sponge V1 through the website, investors receive the same amount of Sponge V2 and then receive staking rewards from locked V1 tokens over 4 years.

This project sets itself apart from other presales so that to acquire these new tokens you have two options: purchase and stake Sponge V1 via the purchase widget on the Sponge.vip website or stake the Sponge V1 tokens you currently hold through Sponge. There is this. VIP website.

The more V1 tokens you stake and the longer you stake, the more V2 tokens you get. Once the remaining supply of Sponge V1 runs out, you will be able to claim Sponge V2.

According to experts, Sponge V2 will dominate the cryptocurrency industry upon launch, with the same analyst predicting a 100x growth potential.

So for investors who missed the initial surge, this is a second chance. Tron founder and Huobi Global advisor Justin Sun is also a Sponge supporter with a wallet address (0x176f3dab24a159341c0509bb36b833e7fdd0a132) tagged as ‘Justin Sun 4’ on Etherscan and holds 108 million SPONGE V1 worth $43,246.

Anyone who thought Sponge V1 was good should take a look at Sponge V2, which is more powerful, better, and has more usability.

To purchase Sponge V2, visit their website.

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adminJanuary 3, 2024

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