Bitcoin

Bitget Token Price Prediction: Top Performer BGB Surges 7% As Analysts Say 2.0 Meme Coin Could Rise 100X Again.

adminApril 18, 2024

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The Bitget token price has surged 7% over the past 24 hours, trading at $1.2821 as of 2:07 AM ET.

BGB has become an outlier, surging while the broader market bleeds as the price of BTC falls and the price of Ethereum (ETH) falls below $3,000.

The surge in Bitget token price coincides with the launch of MERL, a new mining coin on the latest Bitget launchpool.

In addition to MERL, Launchpool is also expected to list DMTR, a token supporting the Dimitra technology ecosystem. Token holders who stake BGB or USD will receive rewards from the mining pool.

Bitget, a leading global derivatives exchange, introduced the BGB token as a bridge to its long-term goal of developing and expanding into its platform. BGB is an upgraded platform token that allows Bitget users to access all types of features through a single platform and token.

Bitget token price outlook as the network’s Launchpool launches a new project

Bitget token price is trading with a bullish bias after a 7% surge and is consolidating within the confines of an ascending parallel channel. It remains within the upper section of the market’s range, measuring from $0.8484 to $1.3821. This is estimated from the point where selling pressure peaks to the point where buying pressure peaks.

It is important to note that the Bitget token price remained above the 50% Fibonacci placeholder $1.1153 and moved above the center line of the ascending parallel channel. The position of the Relative Strength Index (RSI) above the ’50’ center line is also important, indicating that the market is trending upward.

A sustained RSI trajectory could trigger a pending buy signal, which, if paid attention to, could enhance the upward trend in the Bitget token price. This directional bias would send BGB price further north, perhaps as high as the $1.3821 local high. In case of extreme bullishness, the Bitget token price may be tagged at the psychological level of $1.4000. Such a move would result in a rise of nearly 10% from current levels.

bitgetbitget

TradingView: BGB/USDT 1-day chart

converse case

On the other hand, if BGB token holders succumb to profit seeking, the Bitget token price may fall and fall below the center line of the rising channel. If seller momentum strengthens, the Bitget token price may fall below the mid-range of $1.1153. If the candle closes below this level, the bullish argument will be invalidated.

The red histogram of the Awesome Oscillator (AO) is blinking red, indicating the presence of weakness in the BGB market. The outlook is worse as the moving average convergence divergence (MACD) is in negative territory. As if this wasn’t enough, the MACD is below the orange band of the signal line, suggesting a possible bearish cycle.

Meanwhile, analysts say there is an alternative, SPONGE V2, that could post 100x gains after launch, just like its predecessor did during last year’s bear market.

A promising alternative to Bitget tokens

Sponge V2 follows its predecessor, Sponge, and is revolutionizing the market with unique strategies for trading fees, liquidity, and staking.

While Sponge V2 retains the attractive viral meme coin aspects of its predecessor, the second version introduces token utility that is likely to sustain demand in the long term.

Sponge debuted on the market in May 2023, and early investors have seen a spectacular surge in value, unrivaled by anything seen in the PEPE market.

Sponge V1’s market capitalization soared to $100 million as token holders received 100x returns. Among the driving forces behind this meteoric rise were landmark listings on more than 10 popular exchanges, including MEXC, LBank, Poloniex, and Gate.io.

The team is working on preparing more top lists for Sponge V2.

Investors who missed Sponge’s quick success can still take the opportunity to invest before Sponge V2 is released on major exchanges.

Sponge V2 does its best to surpass its predecessor.

The Sponge V2 team is also developing unique Play-to-Earn (P2E) games that introduce new utilities to the token. Players can earn $SPONGEV2 tokens by participating in games and achieving high rankings on the leaderboard.

The game offers both free and paid versions, so users can play for fun or use Sponge V2 tokens to purchase game credits for additional passive income.

Sponge V2 now runs on both Ethereum and Polygon chains, a cross-chain integration that highlights our ambitions to broaden reach and accessibility. Stakers can earn annual returns of up to 165% on Ethereum and 352% on Polygon. More than 9.81 billion SPONGE tokens have been staked so far.

The pre-sale may end at any time, as Sponge V2 is now offering one last opportunity to purchase before launch.

So, if you are interested, please purchase Sponge V2 tokens from the official website here soon.

Also read:

SMOG – Meme Coin with Rewards

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  • Airdrop Season 1 Live Starts
  • Earn XP to Win $1 Million in Stake
  • Cointelegraph Special
  • Staking Rewards – 42% APY
  • 10% OTC discount – smogtoken.com

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adminApril 18, 2024

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