Is Cosmos About to Crash? ATOM Price Dips 1.7% Amid Rising Hype for This New Project

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Cosmos (ATOM) has fallen 1.7% in the past 24 hours, leaving panicked holders asking ‘is Cosmos about to crash?’.

This article will provide an analysis of ATOM’s current price trends and look to see whether a newer meme coin, SPONGE V2, represents a more promising investment opportunity at this time.

Sentiment on ATOM in the crypto community remains mixed, with some analysts highlighting that Cosmos has spent more than 3 months trading in a tight range between $8-12 whilst the rest of the market has pumped.

ATOM Price Analysis: As ATOM Holds Position Despite Retracement – Is Cosmos About to Crash?


With price action reeling from the minor downtick, ATOM is currently trading at a market price of $10.22 (representing a 24-hour change of -0.20%).

This comes as ATOM price fights to push up from 20DMA support (stood at $9.57), which was recently reclaimed in a +6.5% move on February 7.

The reclamation of the 20DMA marks a dramatic twist and major technical strengthening, after the key moving average acted as a capstone of descending resistance throughout the month of January.

Meanwhile, the 200DMA is continuing to bolster price action, with a supportive floor around $8.64.

Despite lacklustre movements over the past few months, ATOM price is still trading up 34.93% over the past 6-months, having pushed up from an accumulation zone down between $6-7.

Yet, it seems there is little capacity for a push up from here on the short time-frame, with the RSI indicator currently signalling a tumultuous 59.74 – overbought bearish divergence.

This meets with minor contrast from the MACD, which is reflecting the bounce-off the 20DMA with a minor bullish momentum indication at 0.137.

Overall, ATOM price analysis paints a picture of technical strengthening after months of suppressed price action, if consolidation at current levels is well-defended – then price action could push up once the RSI has cooled-off.

ATOM price therefore has an upside target at $11.25 (a potential +9.8%).

While downside risk for ATOM price stands at $8.80 (a possible -14.11%).

Consequently, ATOM price analysis reveals a current Cosmos risk: reward ratio of 0.69 – a bad entry dominated by downside risk.

But while ATOM price offers an unappealing entry point, a better play is emerging with Sponge V2, which aims to repeat the success of the 2023 Sponge breakout.

Sponge V2 Launch ($SPONGEV2): Last Chance to Buy – Poised To Outperform ATOM Price Analysis

Sponge V2, the latest iteration of the renowned Sponge ($SPONGE) meme coin, is making waves in the cryptocurrency market.

Following the phenomenal success of Sponge V1, which peaked at nearly $100 million in market cap and amassed over 13,000 holders, Sponge V2 arrives with promising innovations and opportunities for investors.

How to Acquire Sponge V2, Staking Mechanics explained and P2E Integration


Acquiring Sponge V2 is unique:

  • Stake Sponge V1: Buy and stake V1 tokens via Sponge.vip or stake your existing V1 tokens.
  • Earn More V2: The longer and more V1 tokens you stake, the more V2 tokens you earn.

 Best Crypto to Invest In 2024

Sponge V2 introduces Play-to-Earn (P2E) utility, enhancing its ecosystem.

Stake your V1 tokens to earn V2, and engage in the upcoming P2E game to earn additional $SPONGEV2 tokens.

Moreover, this P2E game, a new utility in the Sponge ecosystem, will feature both free and paid versions for enhanced gaming and earning experiences.

Unique Aspects of Sponge V2 Over ATOM Price Analysis

  • Exclusive Access: Earn $SPONGEV2 exclusively through $SPONGE staking.
  • Bonus Rewards: Buying and staking $SPONGE offers special $SPONGEV2 bonuses.
  • Passive Earnings: Staked $SPONGE tokens yield passive rewards, starting at a minimum 40% APY.
  • Permanent Transition: Staking V1 tokens will result in their permanent locking, shifting the focus to V2 post-launch.

Sponge V2 Roadmap and Future Prospects

Sponge V2’s roadmap is ambitious, targeting 10,000 holders, Tier 1 CEX listings, and a $100M market cap.

The launch stages include the Sponge game’s development and the Sponge V2 claim and listing.

Sponge V2 is not just a sequel to its predecessor; it’s a reinvention with a focus on utility and community engagement.

The integration of P2E and exclusive staking mechanisms make it a standout project in the meme coin domain.

Stay updated on Sponge V2’s journey through social channels and witness its growth in the crypto world.

Get Sponge V2 Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.



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