Pendle Price Surges Over 8% in 24 Hours
Pendle (PENDLE) has seen a significant increase in price over the past 24 hours, with the altcoin’s value rising by more than 8%. At the time of writing, Pendle is priced at $0.7065. The cryptocurrency has also experienced a surge in its 24-hour trading volume, which has increased by over 220% compared to the previous day.
Pendle’s Kyber Pool Sees Impressive Growth
Pendle Finance recently announced on Twitter that its Kyber axl.wstETH-wstETH pool has seen substantial growth since its launch 12 days ago. The pool has attracted $1.61 million in total value locked (TVL), with a growth rate of 48.4% for the underlying liquidity.
Technical Analysis of Pendle
Looking at Pendle’s daily chart over the past three weeks, the altcoin has formed a breakout chart pattern characterized by higher lows and lower highs. If this pattern is confirmed, Pendle could experience a significant price movement in either direction.
Notably, Pendle’s price has broken above the 20-day Exponential Moving Average (EMA) line in the last 24 hours, indicating a potential positive breakout. Should Pendle close above this technical indicator at $0.6594, it may challenge the resistance level at $0.7925 and potentially reach $1.0880.
However, if Pendle fails to close above the 20-day EMA line, it could invalidate the bullish thesis and fall towards the lower level of the symmetrical triangle chart pattern. A break below this level may lead to a drop to immediate support at $0.4625, and potentially even lower to $0.2870.
Meme Kombat Presale Nears End
The Meme Kombat (MK) presale is approaching its end, with less than $50K needed to reach the $600K milestone. As the project aims to raise a total of $1 million, investors are showing interest in this meme-inspired cryptocurrency priced at $0.1667 per MK token.
Battles on Meme Kombat Platform Coming Soon
The official launch of the Meme Kombat platform is scheduled for the end of Q3 this year. Once launched, users will be able to earn rewards by placing bets on battles. Season 1 will commence immediately after the launch, offering MK holders the opportunity to win significant rewards.
Hot Take: Pendle and Meme Kombat Show Promising Growth Potential
Pendle’s recent price surge and impressive growth in its Kyber pool indicate positive momentum for the altcoin. With potential breakout scenarios and resistance levels to watch out for, Pendle could experience further price appreciation or face downward pressure depending on market conditions.
Similarly, the nearing end of the Meme Kombat presale suggests growing investor interest in this meme-inspired cryptocurrency. As the project approaches its fundraising target and battles on the platform become available, there may be additional opportunities for users to earn rewards and contribute to its success.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.