Snek Price Nosedives
The Snek price has nosedived 15% and is trading for $0.0009752 within 24 hours by 10:15 a.m. EST, with trading volume rising 51%.
As other meme coins shed red ink, Dogecoin (DOGE) leads the trend. Meanwhile, the market records a performer in Myro with upwards of 7% in gains.
Snek Price Outlook
The Snek price is plummeting, showing a steep downtrend that has lower highs and lower lows. Overhead pressure is building from the 25 and 50-day Exponential Moving Averages (EMA) at $0.0012636 and $0.0011660 respectively.
Increased selling may see the Snek price extend the fall, possibly testing the 100-day EMA at $0.0009168 or even the 200-day EMA at $0.0006544.
Converse Case
If bulls seize the chance to buy the dip, the Snek price could recover north, clearing the resistance due to the 50 and 25-day EMAs before encountering the 50% Fibonacci level of $0.0015118.
Enhanced buying pressure might see the Snek price extend the climb to tag the 61.8% Fibonacci level of $0.0018341, or even higher.
Promising Alternative to SNEK
Sponge V2 is the latest sensation in meme coins, jumping 14% in the past 24 hours amidst other meme coin falls, skyrocketing 1,195% in the past 12 months. The new wave introduces new features and benefits for token holders, aiming to surpass the success of its frontrunner, Sponge V1.
Hot Take: Bitcoin Minetrix
New Crypto Mining Platform – Bitcoin Minetrix offers audited decentralized cloud mining, the ability to earn free Bitcoin daily, and staking rewards with over a 100% in annual percentage yield (APY). The native token, BTCMTX, is currently in presale.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.