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The Ethereum Name Service price (ENS) has pumped 33% in the last 24 hours to trade at $21.06 as of midnight EST.
After an impressive week, the token has surged 46% from a month earlier. The ENS token’s rise was driven by Ethereum’s rally, which in turn was attributed to hype around ETH ETFs being the next to gain regulatory approval after the landmark breakthrough for Bitcoin ETFs this week.
Also weighing in with positive news was ETH founder Vitalik Buterin. He recently urged all layer 2s to incorporate ENS domains to improve the DeFi experience.
All L2s should be working on (trustless, merkle-proof-based) CCIP resolvers, so that we can have ENS subdomains registerable, updateable and readable directly on L2s.
ENS is super-important, it needs to be affordable!https://t.co/Ice1lTttFE
— vitalik.eth (@VitalikButerin) January 3, 2024
Ethereum Name Service Price Prediction
An in-depth analysis of 2-hour ENS/USDT charts shows that the Ethereum Name Service price could be headed toward a correction. This can be seen from the movements of several indicators. The Awesome Oscillator, used in measuring trend strengths, is reverting towards the midline with red histograms. This shows a solid bearish trend on ENS.
The Average Directional Index(ADX), also used to check out trends, has reverted to a southern trajectory, which also points toward bear dominance. These indicators assert selling pressure on the token as holders seek to sell for profits.
The Ethereum Name Service price is volatile, as shown by the Bollinger Bands, which are currently moving far away from each other. This can be attributed to increasing trading activities that have seen the token’s trade volume jump by 84% within the last 24 hours.
2-hour ENS/USDT chart | Source: TradingView
Meanwhile, as the Ethereum Name Service price heads toward a correction in the short term, Meme Kombat is emerging as a good alternative for investors eyeing tokens with explosive potential. This comes as the project’s MK token presale secures over $6.6 million, showing immense investor confidence.
Ethereum Name Service Price Prediction: Is MK A Better Pick?
The Meme Kombat project boasts a user base exceeding 15k on X (formerly Twitter) and over7k on Telegram.
The Meme Kombat Telegram Group is now 7000 meme-bers strong💪
With that said, please make sure you stay safe. There is only one official group⚔️ pic.twitter.com/IetN6JxKRs
— Meme Kombat (@Meme_Kombat) January 5, 2024
Prospective token buyers can seamlessly obtain their assets by navigating to the official platform. A single Meme Kombat token (MK) is available for acquisition at a nominal cost of $0.279. Token buyers can engage in betting through the functional staking dashboard.
The staking component has surged, encompassing approximately 78% of the MK token supply. The annual staking yield is an impressive 142%.
Will MK 100X?
YouTube crypto specialist Michael Wrubel with 310k subscribers has showered praise on Meme Kombat. He forecasts a potential 100x surge on launch.
The Meme Kombat presale is heading towards a sell out so and it ranks among the top gaming tokens. Individuals eager to be part of the gaming revolution are advised to act promptly.
To explore Meme Kombat further, click here.
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