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NEAR Protocol is Going to Zero as NEAR Price Plummets 10% Overnight While This New Meme Coin Just Raised $1.1 Million – 100x Potential?
The hopes of NEAR holders are on the rocks as failed recovery rally seems destined for downside slide, this comes amid a last-ditch attempt to push-up out of consolidation – but is it doomed to fail?
After more than two-years of heartfelt holding and despair, which has seen NEAR bleed-out more than -92% since the all-time high in January 2022, there are signs of life emerging in price structure.
Could NEAR Mount Recovery Rally: NEAR Price Analysis
As the embers are stoked from three days of consolidation at the rock-bottom $1.40 price level, NEAR is attempting to push up, currently trading at $1.387 (a 24 hour change of -0.58%).
TradingView / NEAR USDT
This comes as price stabilizes following a -14% localised retracement move, triggered on July 20 after price action met stiff resistance from the upper trendline at a major price level around $1.60.
Forming a local ceiling of resistance, the $1.60 price level remains unbroken since June 5 – spotlighting more than 2 months of hard fought downside moves.
Critical to the ongoing battle for support stands the 20DMA, which has formed a level of choppy support despite serial trips south as hot wallets traded the slide.
Yet, there are some reasons to be cheerful, NEAR’s RSI has cooled-off significantly in the recent retracement move, and now stands with bullish divergence at 46.
Although there is a little support to be found in the MACD, which contrasts this with bearish divergence at -0.011%.
TradingView / NEAR USDT
Trapped in a seemingly endless downward spiral, upside potential is limited here with a return to $1.6 likely to meet tough resistance once more (limiting upside to +16%).
Meanwhile, downside risk remains similarly limited with a foundational support level at $1.25 likely forming a baseline (limiting downside to -9.35%).
This leaves NEAR with a tricky risk: reward ratio of 1.71 – seemingly positive but against a bleak headwind of long-standing downside movements.
Best NEAR Alternative: Discover Unparalleled Short-Term Gains With Evil Pepe
Evil Pepe Coin ($EVILPEPE) stands out not as a mere imitator but an innovator with exponential growth potential.
The audacious cousin of 2023’s best-performing meme coin, Pepe Coin, $EVILPEPE is set to ride the wave of its predecessor’s success with a twist of its own.
The initial valuation of this promising token is at a measly $2 million, presenting a ground-floor opportunity for potential investors.
With proven teams behind it that brought us Thug Life Token ($THUG) and SpongeBob ($SPONGE), $EVILPEPE is expected to replicate or even surpass the success of these meme coins which saw gains of up to 100x.
But $EVILPEPE’s prospects do not rest solely on its team’s pedigree – its marketing approach, leveraging influencer partnerships and strategic promotion across social media and crypto news outlets, ensures wide visibility, an essential ingredient for growth in this space.
The success of $THUG and $SPONGE attest to the efficacy of this strategy.
EVIL PEPE: Tokenomics Designed To Ignite a Skyrocket
Source / EVIL PEPE
Moreover, $EVILPEPE’s accelerated community growth reflects in its initial token offering – which currently stands at $1.3m raised.
With 90% of its supply up for grabs during the presale and a one-month lock on 10% for DEX liquidity, the coin reassures investors about stability and fairness.
It sidesteps pump-and-dump pitfalls and instils confidence in its serious commitment to long-term value generation.
The $EVILPEPE team has an ambitious market cap goal of $100 million, a near 50x from its initial valuation.
This, coupled with the team’s dedication to pushing boundaries in the meme coin space, underlines the immense growth potential of this new entrant.
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.
