Is It Too Late To Buy Wen Token? WEN Price Rallies Up 4,000% and Whales Are Now Accumulating This New Coin – Here’s Why
WEN token has enjoyed a sensational run, with supercharged profits fuelling an electric meme coin rally, but has this high-flying project run out of steam?
WEN is currently trading at a lowly $0.000000005315 (representing a bleak 24-hour change of -22%).
This comes following a brutal -75% bleed-out for the latest meme coin poster child, with a retracement move from a local moon-shot high at $0.000000022 erupting into a cascade of capital flight from the project on Sunday 14.
This has now left $SPONGE in bearish pendant technical structure, a worrying sign for holders that suggests it could be too late to jump in on the action.
Worse still, the MA20 has formed capstone of resistance suppressing upside price action so far today.
And despite the -75% downturn, the RSI is struggling to cool off, still riding on-fence at 47 - an unclear signal.
As for our other key indicator the MACD? There is little silver lining at 0.0000000000065 - the most minor of bullish divergence.
As technical structure begins to crumble, the risk: reward ratio for WEN sours.
An upside move could see WEN reclaim key support at $0.0000000095 (a possible +79%).
Yet downside risk remains potent, with a cascade down to $0.00000000836 (-84%) on the cards.
This leaves WEN with an ugly risk: reward ratio of 0.94, a terrible entry overshadowed by downside risk.
While WEN's future seems to be waning, another crypto contender is re-emerging, demonstrating remarkable resilience amid market turbulence.
Spongebob token, or $SPONGE, a relatively new entrant in the meme coin market, presents an attractive alternative for those searching for the next big crypto opportunity.
Ever since its debut, $SPONGE has been making a splash in the crypto world.
Despite the recent market
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