NEAR Protocol Price Increase
The NEAR Protocol price has seen a 26% rise in the last 24 hours and has surged 65% in trading volume since October 18. Additionally, it has seen a 66% increase since it broke out of the December consolidation phase.
What Does Santiment Say About NEAR?
An on-chain behavior analytics tool called Santiment reveals that NEAR, Solana (SOL), and Stacks (STX) are massively overbought, with the Relative Strength Index (RSI) indicating buyer exhaustion. Santiment advises caution, warning of a potential price peak soon for these tokens.
Peak Approaches for NEAR Protocol
Increased social media mentions of the NEAR token show growing mainstream attention. This could bring in late investors, leading to the fear of missing out (FOMO), and potentially causing a price top and a pullback.
What to Expect from NEAR Protocol
While the NEAR Protocol price is currently facing resistance, the RSI has not yet dropped below crucial levels for selling. However, the market is predominantly bullish based on indicators such as the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD).
Altcoin Sentiment and Market Analysis
The fear and greed index shows that the NEAR market is in a state of fear, indicating a possible market sentiment for the NEAR token.
Meme Kombat Posing As a Good Alternative
Meme Kombat, a native cryptocurrency for the Meme Kombat ecosystem, is presenting itself as a promising PEPE killer that can potentially 10X at launch, providing an alternative for portfolio diversification.
Staking Your Tokens
Investors can now stake their Meme Kombat tokens for annual percentage yields (APY) as high as 216%.
Where Can You Buy Tokens?
For those interested in purchasing Meme Kombat (MK), you can do so on the official website, with the price per token currently at $0.257, which will be increasing soon. Staking rewards for MK token holders are over 100% APY, with nearly 5,000 stakers currently active in the project.
Hot Take: A Word of Caution on NEAR Protocol Price
While the NEAR Protocol price has made significant gains, Santiment warns of an approaching peak due to increased social media mentions and attention, signaling the potential for a price top and inevitable pullback as mainstream talk rises.
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.
