NEAR Protocol’s price drops 10% overnight while a new meme coin raises $1.1 million with 100x potential.

NEAR Protocol's price drops 10% overnight while a new meme coin raises $1.1 million with 100x potential.

The Blockchain Industry: A Roller Coaster Ride of Hopes and Challenges

Image Source: Sam Cooling x 11145955

The blockchain industry has been a roller coaster ride for NEAR holders, as they have experienced both highs and lows in their investment journey. After witnessing a staggering decline of over 92% since its all-time high in January 2022, NEAR is now showing signs of life. However, this recovery rally is facing potential downside risks, leaving investors uncertain about the future.

Could NEAR Mount Recovery Rally?

NEAR, currently trading at $1.387 with a 24-hour change of -0.58%, is attempting to push up from its consolidation phase at the rock-bottom price level of $1.40. This recent stability follows a localized retracement move of -14% triggered on July 20. The price action met strong resistance at the upper trendline around $1.60, forming a local ceiling of resistance. This significant price level has remained unbroken since June 5, showcasing months of downward movement.

In this battle for support, the 20-day moving average (20DMA) has played a crucial role. Despite several trips south, it has formed a level of choppy support. The Relative Strength Index (RSI) for NEAR has cooled-off significantly during the recent retracement move and now stands at 46, indicating bullish divergence. However, the Moving Average Convergence Divergence (MACD) shows bearish divergence at -0.011%.

While NEAR’s upside potential remains limited, with a return to $1.6 likely to face strong resistance (+16% upside), the downside risk is equally restricted. A foundational support level at $1.25 is expected to form a baseline, limiting the downside to -9.35%. This leaves NEAR with a challenging risk-reward ratio of 1.71, which seems positive considering the long-standing downside movements.

Best NEAR Alternative: Discover Unparalleled Short-Term Gains With Evil Pepe

Image Source: TradingView / NEAR USDT

For those seeking alternatives to NEAR, Evil Pepe Coin ($EVILPEPE) presents an intriguing opportunity. It stands out not only as a mere imitator but also as an innovator with exponential growth potential. Riding the wave of its predecessor’s success, Pepe Coin, $EVILPEPE brings its own twist to the meme coin market.

With a modest initial valuation of $2 million, EVILPEPEoffersaground − flooropportunityforpotentialinvestors.BackedbyproventeamsbehindsuccessfulmemecoinslikeThugLifeToken(THUG) and SpongeBob ($SPONGE), $EVILPEPE has the potential to replicate or even surpass their gains of up to 100x.

But $EVILPEPE’s prospects go beyond its team’s pedigree. Its marketing approach leverages influencer partnerships and strategic promotion across social media and crypto news outlets, ensuring wide visibility—a key ingredient for growth in this space. The success of $THUG and $SPONGE testifies to the efficacy of this strategy.

EVIL PEPE: Tokenomics Designed To Ignite a Skyrocket

Image Source: EVIL PEPE

Moreover, $EVILPEPE’s accelerated community growth is reflected in its initial token offering, which has raised $1.3 million. The presale offers the opportunity to grab 90% of the token supply, with a one-month lock on the remaining 10% for decentralized exchange (DEX) liquidity. This approach ensures stability and fairness, sidestepping the pitfalls of pump-and-dump schemes and instilling confidence in the coin’s dedication to long-term value generation.

The $EVILPEPE team has set an ambitious market cap goal of $100 million, nearly 50 times its initial valuation. Coupled with the team’s commitment to pushing boundaries in the meme coin space, this 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.