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Despite having some attractive fundamentals, the price outlook of DEAPcoin indicates a massive crash with no signs of short-term recovery. The market is even perceiving the death of DEP.
DEAPcoin: Empowering Entertainment with ‘Play-to-Earn’ Mechanism
DEAPcoin is the native utility token of the DEA Project. It is a Singapore-based initiative offering a blockchain-powered NFT DeFi platform for various forms of entertainment.
The token’s primary use is within the NFT Marketplace, allowing users to purchase NFTs and enhance their gameplay experiences.
Notably, the platform aims to address intellectual property and copyright issues for secondary market transactions of individual artworks. This ensures that creators receive perpetual royalties from sales.
Don't miss out on the golden chance to grab more $DEP on a #CoinMarketCap-listed exchange!🔥
Add #DEAPcoin to your #cryptocurrency watchlist on CoinMarketCap and stay updated with the latest price trends!📈
🔗CoinMarketCap:https://t.co/tQpy8AMah7#PlayMining #DEP #GameFi #P2E pic.twitter.com/txxiUtcfw6
— PlayMining(official) (@PlayMining_SG) July 26, 2023
The fundamental mission of DEA is to globally expand the innovative concept of “Play-to-Earn,” abbreviated as P2E.
DEAPcoin Ranks 9th in Top 11 Gaming Project Tokens by Relative Liquidity Ratio (RLR)
According to Cryptolaxy, DEAPcoin holds the 9th position in the Top 11 Gaming Project Tokens (PJT). This is based on its Relative Liquidity Ratio (RLR) of 0.19.
Top-11 #Gaming PJTs by Relative Liquidity Ratio (RLR)#RLR is a 24H Trading Volume to Market Cap ratio. The higher the ratio, the higher traders' interest in the Token and token liquidity. $FITFI $RFR $YGG $RING $GHX $DAR $ALICE $REEF $DEP $BURGER $VOLT pic.twitter.com/Wqw9dVVCOY
— Cryptolaxy #StandWithUkraine (@Cryptolaxy) July 27, 2023
RLR stands for Relative Liquidity Ratio, which is calculated by dividing the 24-hour trading volume of a token by its market capitalization. A higher RLR indicates greater trader interest in the token and higher token liquidity.
DEP’s Attractive Staking Features on PlayMining NFT
An attractive feature of DEAPcoin is the opportunity for users to earn more tokens through staking on the PlayMining NFT platform. The staking options have varying Annual Percentage Rates (APR) based on the chosen duration.
Potential gains include 5.576% for a 1-month staking plan, 8.523% for a 3-month plan, 10.340% for a 6-month plan, and an impressive 15% for a 12-month plan.
This enticing staking feature allows users to optimize their DEAPcoin gains. Additionally, it enables users to earn rewards while supporting the long-term growth and value appreciation of the PlayMining NFT platform.
✨Earn more #DEP with Staking!
Optimize your $DEP gains by staking on #PlayMining NFT!🔥
APR & Available Plans
✅ 5.576% for 1 Month
✅ 8.523% for 3 Months
✅ 10.340% for 6 Months
✅ 15% for 12 MonthsDon't miss out on this incredible opportunity!🤗
🔗https://t.co/vQQX1O9IE5 pic.twitter.com/r4HjrYCLn4— PlayMining(official) (@PlayMining_SG) July 27, 2023
DEAPcoin Price Analysis
The Weekly Chart of the DEP/BNB trading pair reflects a consistent decline in the coin’s value since January 2022.
This followed an initial surge of approximately 1000% within the first four months of its launch. Subsequently, the coin has experienced a significant downturn, losing around 98% of its initial gains.
Presently, the value of the DEP coin stands at 0.001197, representing an 86% decrease from its launch price of 0.008705.
Analyzing the technical indicators, the Relative Strength Index (RSI) has entered the oversold region and continues to trend downwards. This indicates a bearish market sentiment. Additionally, the AO histograms residing below the zero line, depicted in red, signify increased downward pressure on the coin.
The current market capitalization of DEAPcoin amounts to $5.79 million, and its 24-hour trading volume is relatively low at $2.45K compared to other cryptocurrencies. Given the observed metrics and technical indicators, the outlook for the DEP coin suggests a potential substantial crash with no immediate signs of a bullish rebound in the short term.
However, there is another coin worth considering for investment.
Promising Alternative To DEAPcoin
Wall Street Memes ($WSM) is rapidly gaining attention as a new meme coin, raising over $18.3 million during its presale. Analysts anticipate that Wall Street Memes ($WSM) can potentially deliver a 10x return after its market debut.
This projection by Jaco Bury is supported by its unique tokenomics, a vast online community of over 1.1 million followers, and backing from crypto influencers like Elon Musk.
New milestone achieved for @wallstmemes $WSM
$18 million raised so far !!! pic.twitter.com/SD49hSEx1k
— Watcher.Guru (Parody) (@WatcherGuru_P) July 26, 2023
The ongoing presale has attracted significant interest with a low entry point of just $0.0325 per token.
Moreover, the project’s well-crafted tokenomics allocate 50% for marketing and 30% for community rewards.
Additionally, a detailed roadmap, including Tier-1 CEX listings, contributes to the project’s potential for growth.
Wall Street Memes garners strong community support and influencer endorsements, positioning it as more than just a meme coin. Instead, it is viewed as a value-driven asset with significant potential for early investors to earn substantial returns.
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