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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?

Sam Cooling
Last updated: | 3 min read
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.

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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.