As Near Protocol experiences a significant surge in price, traders are left wondering if it’s too late to buy into this blockchain project. In recent months, NEAR protocol has witnessed a staggering 132% growth in active users, making it the most active blockchain in terms of active addresses across all Web3 blockchains. The current market price of NEAR is $3.48, representing a 24-hour change of 22.5%. This surge in price has been fueled by a supportive bounce off the 20-day moving average (20DMA), which has acted as a crucial support level during the past two months of upside price growth. With the price caught in a bullish ascendant trading channel, NEAR protocol seems to be in strong technical form. However, the overbought RSI (Relative Strength Index) reading of 80 indicates a possible retracement in the near future. Despite this, the MACD (Moving Average Convergence Divergence) shows bullish divergence at 0.034. Considering these factors, NEAR price has an upside target of $3.75 and a potential downside target of $3.00. While the risk-reward ratio suggests the current entry point may not be ideal, NEAR protocol’s growth and technical strength cannot be ignored.
While NEAR protocol offers a compelling investment opportunity, another project that has caught the attention of smart money traders is Meme Kombat. This innovative initiative combines nostalgic gaming and GambleFi into a decentralized Web3 platform. Meme Kombat revolves around a captivating arena where meme characters battle it out to tap into deeply tribal crypto communities. Players can place bets on these animated battles, predicting the outcomes and potentially earning attractive rewards. With Season 1 already showcasing 11 unique meme characters and Season 2 on the horizon for December 2023, Meme Kombat promises an action-packed experience. The transparency and unpredictability of AI-driven battles ensure player engagement, and the upcoming security audit of the project’s smart contract demonstrates Meme Kombat’s commitment to transparency. Founder and project lead, Matt Whiteman, brings credibility to the project with his extensive experience in process design and his position as the COO of North Technologies. The project’s physical address in Amsterdam and Whiteman’s open profile further enhance its trustworthiness.
One of the appealing factors of Meme Kombat is its tokenomics, which offers potential investors an enticing ecosystem. The Meme Kombat ($MK) token is priced at $0.246 and allows stakers to earn passive income with a generous APY of 112%. Staked tokens can also be used to place bets in the arena, offering a dual functionality of earning while gaming. Notably, the level of engagement on the platform directly impacts the income one can earn, making participation highly rewarding. With the GambleFi industry booming, Meme Kombat presents a unique opportunity to tap into this lucrative market by merging memes, gaming, and blockchain. For investors looking to diversify their portfolio with an innovative offering, Meme Kombat is an opportunity worth considering.
NEAR protocol is experiencing a significant surge in price and has positioned itself as the most active blockchain in Web3. While the current entry point may not be ideal, NEAR’s technical strength and growth potential cannot be overlooked. On the other hand, Meme Kombat offers a unique Web3 platform that combines gaming, memes, and blockchain, providing exciting opportunities for investors. With its commitment to transparency, experienced team, and appealing tokenomics, Meme Kombat presents a promising investment option. However, it’s essential to remember that cryptocurrency investments are high-risk and should be approached with caution. This article serves as informational purposes only and does not constitute investment advice.
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