NEO’s native settlement GAS token, has undertaken a value explosion, with GAS value pushing up +11.5% regardless of severe retracement, is it too late to purchase GAS token?
GAS is a settlement token, generated by staked NEO, which is used to pay for transactions on the NEO community.
In latest weeks, there was a dramatic progress in GAS value as merchants rush to stack luggage following the news that GAS will be used for settlement on NEO’s sidechains.
This has led to elevated moments of divergence, the place the value of GAS (in orange) exceeds that of underlying token NEO (in blue).
However with value dropping in heavy retracement following a brand new all-time excessive, this bounce-back transfer has acquired markets super-charged – lets dig in.
GAS Worth Evaluation: Will GAS Worth Bounce Again to Proceed Sidechain Rally?
With the chart super-charged following the bounce again, GAS is at present buying and selling at a market price of $8.91 (representing a 24-hour change of +1.13%).
This comes after GAS value discovered toes above the $7.175 supper stage which was established initially in the beginning of November.
Ongoing GAS value motion has created a pan-handle sample on the chart, which bolsters technical construction – nonetheless robust after the golden cross on October 29.
At present the 20DMA is sat above value motion, creating a possible ceiling of localized resistance round $10.75.
Nonetheless, the 200DMA stays low, offering bed-rock help at $3.5.
In a bullish show, the RSI indicator has cooled-off considerably from a serious over-bought sign on November 10, to a impartial on the fence studying at 51 immediately.
This implies value motion is now ripe and able to push-up on a second run, nevertheless, the MACD flags stalling momentum with bearish divergence at -0.509.
Total, GAS seems robust right here, having efficiently consolidated after a much-needed consolidation, suggesting value can as soon as once more resume upside actions.
GAS value has an upside goal at 20DMA resistance round $10.75 on the short-time body (a possible +21.21%).
Whereas draw back threat might see GAS value plummet right down to decrease help at $7.18 (a doable -19.04%).
This leaves GAS value with a threat: reward ratio of 1.11 on the short-time body, suggesting that it isn’t too late to purchase GAS at present costs.
However whereas GAS affords a probably alluring achieve on the short-time body, a greater alternative emerges from a brand new meme coin presale that has matched NEO’s explosive November progress, meet Meme Kombat.
Meme Kombat Presale Pushes Past $2m Raised With $10k Giveaway – Don’t Miss Out!
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, right into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why ought to potential traders hold a eager eye on this presale?
The essence of Meme Kombat lies in its charming area the place characters aiming to faucet into deeply tribal crypto communities lock horns.
The worth of $MK is now $0.214👀
— Meme Kombat (@Meme_Kombat) November 23, 2023
Gamers have the freedom to position their bets on these animated battles, predicting the outcomes and presumably reaping enticing rewards.
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no scarcity of motion, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the undertaking, mixed with the joys of AI-driven battles, ensures that the outcomes are each clear and unpredictable – each battle is a brand new expertise, making certain gamers keep engaged.
Meme Kombat Pits Main Crypto Meme Communities in Excessive Octane Staking Battles
The undertaking isn’t nearly pleasure; it’s constructed on a basis of belief – Meme Kombat’s dedication to transparency is obvious by way of initiatives like the approaching safety audit of their good contract.
The findings of this audit will quickly be public, a transfer that many initiatives draw back from.
The founder and undertaking lead, Matt Whiteman, isn’t an unknown entity within the crypto house.
His expertise spanning 20 years in course of design, mixed along with his place because the COO of North Technologies, provides credibility to Meme Kombat.
When so many initiatives conceal behind the veil of anonymity, Whiteman’s open profile and the undertaking’s bodily handle in Amsterdam provide an additional layer of trustworthiness.
The tokenomics of Meme Kombat can be an interesting issue for potential traders – Stake the Meme Kombat ($MK) token, priced attractively at $0.214 (with a value rise in simply 3-days!), and dive right into a rewarding ecosystem.
With a beneficiant APY of 112%, stakers not solely profit from passive revenue however also can use their staked tokens to position bets within the area – this twin performance – incomes whereas gaming – units Meme Kombat aside.
Intriguingly, engagement on the platform immediately influences the revenue one can earn, so, the extra you take part, the extra you stand to realize.
With the GambleFi business booming following cash like Rollbit, Meme Kombat appears poised to faucet into this profitable market with its modern strategy.
By merging memes, gaming, and blockchain, the platform is presenting one thing recent to the crypto neighborhood.
For these trying to diversify their portfolio with a singular providing, Meme Kombat looks as if a chance too good to overlook – so, don’t be left behind (stay tuned with the MK Telegram).
Embrace the way forward for meme-based gaming and betting with Meme Kombat.
Disclaimer: Crypto is a high-risk asset class. This text is offered for informational functions and doesn’t represent funding recommendation. You possibly can lose your entire capital.