NEAR token holders are on edge following a failed recovery rally and an apparently pending downside slide. After a grueling two-year stretch that saw the NEAR token drop by an unsettling 92% since its January 2022 peak, however, there seem to be glimmers of hope in its price structuring.
From a dishearteningly low level of $1.40, NEAR is undertaking a courageous push upwards, currently teetering at $1.387, 0.58% lower than the previous 24 hours. This upward push comes on the tail-end of a 14% localized dip that occurred on July 20, testing the tenacity of investors when price action came up against a stiff resistance around the $1.60 mark. Unyielding for more than two months, this resistance level has witnessed a series of downside movements.
Despite these odds, NEAR’s RSI indicates a substantial cooling off, indicating bullish divergence at 46. However, the MACD warns that there is still bearish divergence at -0.011%. This seemingly unending downward spiral leaves NEAR with limited upside potential, with a return to $1.6 likely to face staunch resistance again, limiting its upside to just 16%.
Regardless, all is not doom and gloom in the crypto world. Enter Evil Pepe Coin, denoted as $EVILPEPE, posed as not just another blockchain venture but a game-changer with bullish growth potential. As a notable offshoot of 2023’s best-performing meme coin, Pepe Coin, $EVILPEPE is set to harness its predecessor’s success and add its flair to it. It currently has a relatively humble initial valuation of just $2 million, which leaves a wealth of opportunity for early investors to reap potentially significant rewards.
Backed by the same teams responsible for the success of the Thug Life Token and SpongeBob, $EVILPEPE has valid reasons to be optimistic about matching and even surpassing the returns these meme coins generated. Beyond pedigree, $EVILPEPE relies heavily on a strategic marketing approach through influencer partnerships and targeted visibility across various digital media platforms, a strategy earlier proven successful by $THUG and $SPONGE.
In terms of its initial token offering, $EVILPEPE has generated an encouraging $1.3 million with 90% of the total token supply available during the presale and a one-month lock on the remaining 10% for DEX liquidity. The community’s accelerated accrual is a reassuring indicator of stability and fairness in the coin’s theoretical pricing, limiting the risk of pump-and-dump schemes.
The ambitious ceiling of a $100 million market cap, almost 50 times its initial valuation, alongside the team’s commitment to innovation in the meme coin space, arguably underlines $EVILPEPE’s remarkable growth potential. However, potential investors should not lose sight of the high-risk nature of cryptocurrencies.
Source: Cryptonews
