Is It Too Late to Buy Axie Infinity? AXS Price Rockets Up 35% as the Latest Meme Coin Prepares to Launch

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In the ever-evolving cryptocurrency landscape, Axie Infinity’s AXS token has made a significant leap, soaring over 30% to reach around $10.7. This impressive surge has catapulted AXS to the pinnacle of gaming cryptocurrencies, surpassing BEAM with an exceptional market capitalization of $1.4 billion.

Currently trading at $10.85, Axie Infinity has witnessed an astonishing increase of over 35% in the past 24 hours. Ranking #56 on CoinMarketCap, it boasts a live market cap of approximately $1.43 billion and a circulating supply of 132.04 million AXS coins.

As the latest meme coin prepares for its launch, Axie Infinity stands at the center of investor and gamer attention, sparking debate on whether it’s too late to buy into this rising digital asset.

Christmas Day Crypto Market Highlights

On Christmas Day, the cryptocurrency market exhibited remarkable stability, despite a minor 1.31% decrease in the global market cap. Bitcoin maintained its position strongly above $43,000, instilling confidence among cryptocurrency enthusiasts.

Other major altcoins like Ethereum, Solana, Ripple, Litecoin, and Dogecoin experienced slight declines, but the overall market sentiment remained positive, demonstrating resilience to fluctuations even during the holiday season.

Axie Infinity’s Standout Performance Amid Market Stability

Axie Infinity emerged as a standout performer on Christmas Day, showcasing the adaptability and resilience of the cryptocurrency industry. This exceptional performance amid market fluctuations adds excitement and anticipation for the digital asset world as it heads into the new year.

Axie Infinity’s positive trend on Christmas Day has likely bolstered investor confidence, and the overall optimistic sentiment in the crypto market could potentially lead to further increases in the price of the AXS coin.

Axie Infinity Price Prediction

AXS has established a series of key resistance levels, with immediate resistance at $10.41, followed by higher thresholds at $11.37 and $12.01. Conversely, the cryptocurrency finds immediate support at $9.09, with additional support levels at $8.54 and $8.06, providing crucial buffers against potential downward trends.

#AxieInfinity (AXS) showcases dynamic market movement! Trading near $9.73 with key resistances ahead. RSI at 81 signals strong buying trend, but caution advised. Bullish above $9.70 with eyes set on surpassing $10.41. Stay tuned for more updates! #Crypto#TradingTrends

— Arslan Ali (@forex_arslan) December 25, 2023

The technical analysis reveals an intriguing picture. The Relative Strength Index (RSI), a pivotal indicator of market sentiment, is currently at an elevated level of 81.

This suggests that AXS is in an overbought condition, indicating a strong buying trend but also signaling caution for potential reversals.

Moreover, AXS’s price is comfortably situated above the 50-Day Exponential Moving Average (EMA) of $6.86, reinforcing a bullish trend in the short term.

The chart patterns for Axie Infinity are particularly telling. The presence of two bullish engulfing candles on the daily timeframe suggests a strong buying interest.

This pattern, combined with the likelihood of targeting a 261.8% Fibonacci extension level, underscores the potential for further upward momentum.

In summary, the overall trend for Axie Infinity is bullish above the critical pivot point of $9.70. As we move forward, market watchers and investors alike anticipate that AXS will test and potentially surpass its immediate resistance levels.

Sponge V2 Launch ($SPONGEV2): A New Era in Meme Coin Evolution

Sponge V2 heralds a new chapter in the meme coin saga, following the incredible success of Sponge V1, which peaked at a nearly $100 million market cap and over 13,000 holders.

This latest iteration stands out with its unique staking approach and Play-to-Earn (P2E) integration, building upon the legacy of its predecessor.

Revolutionary Acquisition and Earning Opportunities

To acquire Sponge V2:

• Stake Sponge V1 tokens via Sponge.vip or existing holdings.
• Earn more V2 tokens proportionate to the duration and amount of V1 tokens staked.

P2E Integration: A Leap in the Sponge Ecosystem

Sponge V2 elevates the experience by integrating a P2E game within its ecosystem. Participants can engage in both free and paid versions, earning additional $SPONGEV2 tokens and enhancing their gaming and earning experiences.

Distinctive Features of Sponge V2

• Exclusive Access: $SPONGEV2 tokens are earned exclusively through $SPONGE staking.
• Bonus Rewards: Special $SPONGEV2 bonuses for buying and staking $SPONGE.
• Passive Income: Staked $SPONGE tokens yield rewards starting at 40% APY.
• Permanent Focus Shift: Post-launch, the focus shifts to V2 with staked V1 tokens locked permanently.

Roadmap and Future Prospects

Missed out on 100X? Here’s your chance! Stake your $SPONGE today to earn exclusive Sponge V2 tokens. Act now for a special V2 token bonus!

Limited tokens available: 16,461,035,615.

Stay Connected with Sponge V2: Follow Sponge V2’s progress through social channels and be part of its exciting journey in the cryptocurrency world.

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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.

The post Is It Too Late to Buy Axie Infinity? AXS Price Rockets Up 35% as the Latest Meme Coin Prepares to Launch appeared first on Cryptonews.