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The Coq Inu price has plunged by 30% in the last 24 hours to trade at $0.000002909 as of 12:10 a.m. EST.
The Token has still recorded significant gains over a seven-day timeframe, soaring 752%. These massive gains are sparking sell-offs, leading to big profits for many:
This trader made ~4,397x profit by investing only ~$108 in $COQ!
The trader spent 4.1126 $AVAX($108) to buy 694.2M $COQ on Dec 7, then sold 614.2M $COQ for 5,440 $AVAX($201K).
And currently holds 80B $COQ($275K), the profit is $475K, a gain of ~4,397x!https://t.co/Y33z0MA0J5 pic.twitter.com/KJv9NOaJHh
— Lookonchain (@lookonchain) December 20, 2023
This is the second case of a holder selling for profits, with another similar move coming less than two days ago.
A trader turned $454 into $2.19M in 2 weeks by trading $COQ, a gain of 4827x!
This trader spent 17.26 $AVAX($454) to buy 4.86T $COQ through 7 addresses, then sold 4.61T $COQ for 32,251 $AVAX($1.26M) and 259K $USDC.
Currently holding 250B $COQ($700K), the profit is ~$2.19M. pic.twitter.com/arsaX6Uey8
— Lookonchain (@lookonchain) December 19, 2023
Coq Inu Price Prediction
One-hour COQ/USD charts show COQ headed toward a bullish reversal, as shown by several indicators. Despite the plunge, the Relative Strength Index indicator has held above the oversold region as it now heads north.
This shows bullishness on the Coq Inu price as the MACD indicator also moves in the green zone.
The 50-period moving average has also maintained above the 200-period moving average, showing faded selling pressure. This also indicates the likeliness of a bullish short-term as bearishness now fades.
Looking at volatility, the Bollinger bands are converging, showing low volatility levels on the Coq Inu price. This can be attributed to decreasing trading activities that have seen the meme coin’s trading volume plunge by 6% in the last 24 hours.
1-hour COQ/USD charts | Source: DEXTools
Meanwhile, as the Coq Inu price plunges, Meme Kombat’s new MK token is a promising alternative investment with its presale already roaring past $3.9 million. Some experts predict a tenfold surge for the token upon release.
But there’s only five hours until the price increases to $0.257 from the current $0.246.
Coq Inu Price Prediction: Is MK A Better Investment?
Meme Kombat introduces a novel concept that allows users to wager on battles between iconic meme characters. This innovative approach seamlessly integrates gaming and betting, capitalizing on the burgeoning GameFi and gaming token sectors.
Meme Kombat strategically targets individuals with an interest in meme currency, creating a dynamic intersection of interests with a business model tailored for meme enthusiasts.
And crypto whales are throwing their weight behind the initiative, exemplified by a substantial $200K MK purchase, reaffirming the project’s robust investor confidence.
Some whale just bought $200k worth of $MK 🤯🤯🤯 This comes after many many buys into our presale.
That pushes us past $3.3 million raised⚔️ pic.twitter.com/gOAn09tpkA
— Meme Kombat (@Meme_Kombat) December 15, 2023
The platform aims to captivate users by fusing the excitement of gambling with competitive meme characters, offering an engaging and entertaining experience. The post-sale for Season 1 includes eleven meme characters, featuring popular ones like Doge and Shiba, with Season 2 already in the pipeline.
Investors eyeing staking and tokenomics with Meme Kombat stand to benefit from a formidable 224% Annual Percentage Yield (APY). Early participants gain exclusive access to Meme Kombat tokens ahead of the official launch, enhancing the appeal for savvy investors.
With 75% of MK already sold and staked, Meme Kombat strategically incorporates staking options to alleviate short-term selling pressure. This strategic move enhances stability and encourages a more sustainable growth trajectory for the project.
Analysts Compare Meme Kombat to Pepe Coin
Certain YouTube cryptocurrency analysts, including Jacob Bury, are closely watching Meme Kombat due to the enticing rewards it promises for early investors. Drawing parallels to the success of Pepe coin, Bury suggests that a tenfold increase is within the realm of possibility, adding to the allure of the project.
Meme Kombat prioritizes the security of its ecosystem, subjecting its intelligent contract to rigorous security. These measures underscore the commitment to maintaining the integrity of the platform, providing a secure environment for users.
The project places a premium on fostering a cohesive community, excelling in both humor and artwork. The ongoing presale initiative is gaining traction, generating heightened interest within the cryptocurrency community.
Meme Kombat emerges as an enticing opportunity for early investors. With its unparalleled blend of gaming, gambling, and meme elements, the platform positions itself as a high-potential venture in the cryptocurrency landscape. So, with the Coq Inu price plunging, the new MK token could be your ultimate investment.
Act now if you are interested before a price hike in about five hours.
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