By As Near Protocol undertakes a huge +20% NEAR price surge, traders are asking ‘is it too late to buy Near Protocol?’.
The big NEAR price move comes amid heightened activity and growth across Near Protocol.
Today @NEARProtocol is #1 in daily active users across all of Web3 – super exciting to see! pic.twitter.com/yK77xjwupK
— Illia (root.near) (, ⋈) (@ilblackdragon) December 20, 2023
With +132% active user growth over the past 3-months, NEAR protocol has now emerged as the most active blockchain (by number of active addresses) across all Web3 blockchains.
NEAR Price Analysis: As Near Protocol Smashes +20% Rally – Is it Too Late to Buy NEAR?
As NEAR price hammers to the upside, Near Protocol is currently trading at a market price of $3.48 (representing a 24-hour change of +22.5%).
This comes after price erupted +70% over the past 4-days, in a huge upside move, triggered by a supportive bounce off the ascendant 20DMA (currently sat at $2.37).
The 20DMA has provided a vital lifeline of moving average support throughout the past 2-months of upside NEAR price growth.
Critically, this has left NEAR price in strong technical form – with price caught in a bullish ascendant trading channel.
But, the latest upside price move appears to have overheated the RSI to a significant degree, with the indicator now reading at an extremely bearish 80.
The last time that NEAR’s RSI reached these levels (on December 10) saw NEAR subsequently retrace -14.29%.
However, despite the overbought signalling from the RSI, the MACD contrasts this with bullish divergence at 0.034.
Overall, NEAR price looks strong here, although overdue a much needed retracement move following the seismic rally.
This leaves NEAR price action with an upside target at $3.75 (a potential +7.14%).
While downside risk could see NEAR price retrace down to $3.00 (a possible -14.29%).
Near Protocol therefore carries a current risk: reward ratio of 0.5 – a bad entry at the tail-end of a big pump, suggesting it is too late to buy NEAR.
But while NEAR price offers an unalluring proposition on the short-time frame, a new meme coin is capturing the interest of smart money traders.
Meme Kombat Smashes Past $4M Raised In Skyrocketing Presale – Don’t Miss The Next NEAR
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.
MAJOR MILESTONE
We reached $4 million raised in the $MK presale
Congratulations fighters! pic.twitter.com/qkHtTP7z9F
— Meme Kombat (@Meme_Kombat) December 21, 2023
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.
Meme Kombat Pits Leading Crypto Meme Communities in High Octane Staking Battles
The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $0.246, and dive into a rewarding ecosystem.
With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality – earning while gaming – sets Meme Kombat apart.
Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.
With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.
By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.
For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
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 Near Protocol? Near Price is Up 20% as Meme Kombat Smashes $4M Raised appeared first on Cryptonews.
