MINA Price Prediction: Mina Protocol Up 14.8% in 24 Hours – Going Higher in 2024?
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Ever since breaking the downtrend in late October this year, the Mina Protocol has gone from strength to strength.
Currently ranking #64, MINA has a market capitalization of $1.24 billion. Its price was up nearly 15% in 24 hours at one point.
It’s currently up 76.3% in a week, 53.7% in a month, and 157.5% over the past year.
In the two months since October, the token increased in price from $0.39 to $1.2, which begs the question – is there still fuel in this rocket?
Mina Could Break Through The Current Ceiling
If we look at the token’s chart history, since August 21, we’ll see that it behaved as expected in the bear market, decreasing in value slowly but surely.
On the daily chart, there are a couple of key levels to keep in mind: previous highs that will most likely act as resistances and later support levels.
The first one is its current level – $1.2. This level acted as a local top and resistance on two occasions: in May 2022 and, more notably, in February 2023.
As Mina is currently dancing around this level, it’s worth keeping an eye on it to see if it breaks through this ceiling or falls back down.
If the latter happens, the next key range would be around the $1 mark.
If indeed it does break, there’s practically nothing stopping it from reaching at least $3.5, possibly even $4, as round numbers usually serve as psychological barriers.
The next major milestone would be its all-time high of $6.5. After that, who knows.
Meanwhile, as reported, Mina developers introduced an update that will make it compatible with Ethereum.
Mina Protocol uses zero-knowledge proofs to increase speed and scalability. The update would enable Ethereum developers to use the Protocol as a layer-two network for Ethereum.
This could increase adoption and create additional use cases, boosting MINA’s price.
More Altcoins Are Readying to Rally
Besides MINA, some other notable altcoins with strong fundamentals seem to be gearing up for quite a 2024.
These include newer tokens with high potential and meme tokens with notable utility.
One of the coins to highlight is Sponge (SPONGE), an ERC-20 token listed in April.
The project is launching the token’s second version, with a new staking model and connection to a SpongeBob-themed play-to-earn (P2E) game.
https://twitter.com/spongeoneth/status/1738877238907371738
Users can stake their Sponge V2 tokens to potentially earn up to 40% APY. They need to keep the coins locked up for four years – the maximum time.
While waiting for the launch, Sponge V1 holders can claim Sponge V2 by staking their existing V1 tokens on the official Sponge website.
Sponge V2 is bringing exciting utility to the new token through our #P2E game! 🔥🧽
Users will be able to earn #SpongeV2 tokens by playing the game and ranking on the leaderboard.
Don't miss out. 😎$SPONGE #Presale #Altcoins pic.twitter.com/5tHsKwwlhP
— $SPONGE (@spongeoneth) December 21, 2023
The new token should go live in the first quarter of 2022.
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.
