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Flex (FLEX) has undergone a sharp downturn in the market, plummeting from a record high of over $8 to less than a dollar within a few weeks.
The token’s standing hit when the interim managers of the defunct Hodlnaut exchange turned down a buyout proposal from FLEX’s parent company, OPNX, citing the token’s lack of liquidity.
FLEX Plummets 90%! Hodlnaut Declines OPNX Buyout #FLEX #Hodlnaut #Investo #OPNX pic.twitter.com/RmBfYFqoam
— Q.E.D (@QEDCryptoNews) September 20, 2023
Flex (FLEX) has recently witnessed a substantial market decline, tumbling from a record high of over $8 to less than a dollar within several weeks.
As of 7:51 a.m. EST, it’s trading at $0.50, marking a 0.5% increase in the past 24 hours. The question emerges: Can Flex attain a 50% surge due to its escalating platform adoption?
FLEX Price Might Rise 50%
Initially soaring from the $0.57 support level, surpassing the $4.42 resistance level, and reaching a supply zone at $8.3, FLEX experienced a bear-driven downturn to the $4.42 support zone.
However, the $4.42 support level was breached, leading to a decline in price back to the $0.57 support, where the bulls are regrouping and preparing to drive the price higher.
The bearish sentiment is significantly influenced by the simple moving average, which trades above the price and is an immediate resistance.
The relative strength index (RSI) also demonstrates a sharp decline, moving from 70 to 21, falling below the oversold threshold of 30. This indicates intense selling pressure.
However, with a double-bottom pattern forming, FLEX may be bracing for a bullish trend reversal that will push the price up.
With Flex’s price plummeting, investors are jumping to this new crypto. Meme Kombat (MK) is fast approaching its $1 million target. With its enticing presale offer and S2E and P2E features, MK would be a better alternative to FLEX.
Join Meme Kombat Gaming, Earn Rewards
Meme Kombat is poised for rapid expansion following the presale, propelled by significant investor enthusiasm for popular meme coins, which is the niche that Meme Kombat specializes in.
The project combines memes and AI to establish a battle arena on the Ethereum Network. On the MK platform, you can bet on tokens in competitions featuring popular memes.
The platform provides automatic staking advantages throughout the presale, offers a wide array of betting choices, and enforces a well-organized tokenomics system to foster sustainable expansion.
You’ll share in the prize pool if your selected meme emerges as the winner. You also have the option to collaborate with others on betting and sharing the winnings.
Buy Meme Kombat, Earn Passive Income
During the presale phase, which has garnered a remarkable $487,271, the Meme Kombat team has allocated 50% of the total token supply. Of these tokens, 30% will reward $MK stakers and battle participants, 10% will enhance Decentralized Exchange (DEX) liquidity, and another 10% will be designated for community rewards.
You feel that?
That's the sweet sound of $MK soaring to the moon 🚀
Big week ahead of us memers🔥 pic.twitter.com/zUiqf002MY
— Meme Kombat (@Meme_Kombat) October 11, 2023
The AI-powered game supports various memes, each with unique powers centered around its native MK token. Investors can now capitalize on the opportunity to stake MK tokens in the staking pool aligned with their endorsed meme player.
Your thoughts on the $MK tokenomics updates?
We're just gearing up for kombat ⚔️ pic.twitter.com/tDJ8NgcEVV
— Meme Kombat (@Meme_Kombat) October 11, 2023
This allows investors to achieve an impressive annual percentage yield (APY) of 112%, thanks to the allocation of 30% of the token supply for staking and battle rewards.
Satoshi Staker, a YouTuber, explains how the meme kombat works and how you can benefit from the staking and gaming features.
He also teaches how to buy and stake MK tokens for passive income.
Meme Kombat MK’s Seasonal Strategy
Meme Kombat MK is adopting a seasonal approach, a well-known concept in traditional gaming, to achieve its objectives. The inaugural Battle season (Season 1) was introduced this month, shortly after the platform’s launch.
Gm #MemeKombat frens ☀️
Can I get a gm back? 👉👈 pic.twitter.com/6vvRkJXUNP
— Meme Kombat (@Meme_Kombat) October 13, 2023
Season 1 will encompass battles featuring 11 popular crypto memes like DOGE, SHIB, PEPE, leaderboards, and more. This strategic move paves the way for ongoing gameplay, attracting players and enhancing community engagement. Stakers can witness and place bets on their preferred memes as they engage in battles.
Who else is getting excited for Season 1 of #MemeKombat. pic.twitter.com/Nott2HclvK
— Meme Kombat (@Meme_Kombat) October 9, 2023
In December 2023, Meme Kombat will unveil Season 2, featuring fresh battles, rewards, and opportunities to cement its presence in blockchain gaming.
Visit the MK website and connect your web3 wallet to obtain tokens using ETH, BNB, or USDT (both ERC-20 and BEP-20)
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