NEAR Protocol is Going to Zero as NEAR Price Plummets 10% Overnight While This New Meme Coin Just Raised $1.1 Million – 100x Potential?

NEAR Protocol is Going to Zero as NEAR Price Plummets 10% Overnight While This New Meme Coin Just Raised $1.1 Million – 100x Potential?

NEAR Protocol is Going to Zero as NEAR Price Plummets 10% Overnight While This New Meme Coin Just Raised $1.1 Million – 100x Potential?

Source / Sam Cooling x 11145955

The hopes of NEAR holders are on the rocks as a failed recovery rally seems destined for a 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% localized 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 a bullish divergence at 46.

Although there is 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, the 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 instills 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.

Buy EVILPEPE Here

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.

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