Chainlink Price Prediction: LINK Upends Dogecoin to Enter Top 10 Cryptocurrencies at 36% Pump. But is this potential Pepe Killer the best cryptocurrency to buy right now?

adminFebruary 6, 2024

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chain link price rapidly increase It was trading up more than 36% at $19.61 as of 9:35 a.m. last week as investors continued to buy the altcoin.

A strong weekly performance saw LINK upset Dogecoin (DOGE) and move into the top 10. List It is one of the largest cryptocurrencies by market capitalization.

Chainlink price remains in a bullish channel.

TradingView Charts

LINK/USDT daily chart (Source: TradingView)

that much chain link The price has broken above the medium-term consolidation channel between $14.200 and $17.200 over the past few days. This created a positive price channel. If LINK continues to rise over the next few days, it may attempt to turn the $20.755 resistance level into support in the near term.

This bullish argument could be invalidated if Chainlink price falls below the lower limit of the bullish price channel within the next 48 hours. In this alternative scenario, the cryptocurrency could retest the recently violated mark at $17,200.

A fall below this important price level would expose LINK to the risk of falling to the next major support at $14.200. In an extremely bearish scenario, Chainlink price could fall to $11.895 in the medium term.

Chainlink price shows little signs of correction

technical indicators connection The daily chart is bullish. Both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators suggest that Chainlink price may continue to rise over the next 48 hours.

The MACD line is currently breaking above the MACD signal line. Traders can identify this as a sign that LINK’s positive trend is getting stronger. In parallel, RSI is breaking out of the simple moving average (SMA) line, which could indicate that buyers are still bullish against sellers.

As Chainlink continues to make positive moves, experts are turning their attention to Pepe killer Sponge V2, expecting it to be the next best meme coin on the market.

Strategic Pivot to Polygon Networks

🚨 IMPORTANT NOTICE 🚨
10 hours left until deadline $sponge V1 breaks.
The exchange has been asked to suspend trading in SPONGE V1 at 11:00 PM (UTC) today.
Holders in DeFi and exchanges must stake Sponge V1 through our website to be able to claim SPONGE V2. pic.twitter.com/uU16ftWz7p
— $SPONGE (@spongeoneth) February 5, 2024

Sponge V2 It looks set to repeat the 100x growth achieved by its predecessor, Sponge V1, in the 2023 bear market. To ensure the success of this latest version of Meme Coin, the Sponge team has prepared a list of a number of major centralized exchanges and will also introduce a play-2-profit racer game.

This racer game is available in paid and free versions. The paid version allows players to earn Sponge V2 tokens. Meme Coins must also be used as game credits. This will introduce a degree of utility to the meme coin project, setting it apart from other meme coins on the market.

The team recently decided to advance the project’s planned migration date to the highly scalable and cost-effective Polygon network. This not only exposes Sponge V2 to the thriving Polygon community, but also reduces network costs for those transacting using Sponge V2. As a result, racer game players can enjoy larger profit margins.

Potential 100X Opportunity

Analysts say Sponge V2 could soon be a 100-fold increase, considering the number of potential exchange listings, new racer games, and the move to the Polygon network.

To earn V2 tokens, investors must purchase and stake Sponge V1 tokens on the project’s official website. Investors who already hold V1 tokens can simply stake them to receive V2 tokens. However, investors may want to act fast, as Sponge V1 is scheduled to go down in the next few hours.

You can obtain Sponge V2 here.

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