The Wall Street Memes price surged 25% in the last 24 hours to trade at $0.00729 as of 23:59 p.m. EST on trading volume that rose 66% to $4.5 million.
Wall Street Memes ($WSM) has been surpassing Solana meme coins such as HONK and BONK in recent days, particularly gaining momentum after yesterday’s Solana outage.
The spike in the WSM price follows closely on the heels of the team’s successful completion of testing and deployment of an upgraded token on the Binance Smart Chain (BSC).
Complete testing and deployed upgraded token on BSC chain ✅
Upgraded staking widget launched ✅
On-chain airdrop of upgraded token ✅
Liquidity Pool Set Up ✅
Casino Token Integration 🔜
Deploy a new buy widget on the website🔜
Deploy new burn and claim… pic.twitter.com/E2seLGq8wN
— Wall Street Memes (@wallstmemes) February 2, 2024
Wall Street Memes Price Within The Bullish Pennant
The price of Wall Street Memes has been trending upward, characterized by a phase of markup. This phase concluded when the bulls faced resistance at the $0.00853 level.
Despite this, WSM’s price is currently below the upper boundary of the pennant, with $0.00690 serving as a critical support level, aligning with the lower boundary of the pennant.
Moreover, it is noteworthy that Wall Street Memes’ price is trading above both the 50-day and 200-day Simple Moving Averages, affirming the bullish momentum.
Additionally, the formation of a moving average (MA) cross at $0.00645 further supports the notion of a bullish rally underway.
The Relative Strength Index (RSI) has rebounded from 40 to 46, albeit still below the 50-midline level. If the bullish momentum persists, there is potential for the RSI to surpass the 50-midline level and approach the 70-overbought region.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) is trading slightly below the signal line (orange). This indicates a slight retrace with the possibility of a possible price reversal leading to a rebound. This is further supported by the red bars on the histogram, which are slightly elevated compared to the green bars.
Wall Street Memes Price Prediction
The current Wall Street Memes price analysis suggests that the market has bullish momentum with the formation of the bullish pennant.
Further affirming bullish sentiments is the markup phase, where the bulls seem to have used the $0.00603 level as a cushion against downward pressure, which allowed them to rally WSM.
However, if the bears take control of the price, it may retrace to the crucial support level of $0.0603.
As the WSM price rallies, investors are also turning to Sponge V2 as analysts say it’s primed to repeat the exponential gains of its predecessor, Sponge V1.
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— $SPONGE (@spongeoneth) February 6, 2024
Sponge V1 amassed over 13,000 holders and rallied to $100 market capitalization, having been listed on more than ten major exchanges, including Toobit, LBank, and BitMart.
— $SPONGE (@spongeoneth) January 29, 2024
The development team discontinued Sponge V1 on February 5th, facilitating the transfer of over 13,000 holders to the enhanced security and cost-efficiency of V2 on the Polygon network. Shortly after, SPONGE pumped 56%.
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— $SPONGE (@spongeoneth) February 6, 2024
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The Sponge V1 sequel differs from its predecessor in that it brings about new features, including play-to-earn (P2E) gaming, that aim to bring in new investors and players.
The team is anticipating the launch of Sponge Racer, a game that will feature both a free version and a paid version. Sponge Racer invites players to participate in races for the opportunity to earn token rewards.
You also have the opportunity to earn an impressive 3,990% annual percentage yield (APY) by staking your $SPONGE tokens.
Crypto analyst Jacob Bury, citing new features and listings on major exchanges, says that Sponge V2 has the potential to 100X on launch..
To join the presale, visit the official Sponge V2 website and link your digital wallet to swap your ETH or USDT for V2 tokens. You can also buy directly using your bank card.
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