Grok Price Prediction: GROK Plunges 20% As Time Runs Out to Buy This Meme Coin Competitor And Potential Pepe Coin Killer

ByLockridge Okoth

Updated: 30 November 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Grok price is down 20% in the last 24 hours to trade for $0.0214 as of 4:50 AM EST, with a 15% drop in trading volume.

Despite the slump, Grok’s price is broadly bullish as it continues to hold above the mean threshold of a supply barrier turned bullish breaker at $0.0209.

Well shit, $GROK has been holding this level for the past 16 hours on the 4H chart.
Higher low which is bullsih, but it's getting hammered.
Not sure how much it can hold w/o some positive catalyst.
Anyone got some? @HTX_Global ? anyone? pic.twitter.com/Nn2BiUQsv0

— rgrpark (@rgr_park) November 30, 2023

Traders are still optimistic about prospects for more gains.

$GROK
Still no break in market structure = still bullish

Have a look at all those wicks to the downside. This indicates buyers are stepping in and buying up any sellers. https://t.co/c1HygnaKHO pic.twitter.com/KNVR00lzLW

— Terry Tibbs (@jamieskichen) November 30, 2023

Nevertheless, it remains unclear what is driving Grok’s price, other than that capital is flowing into altcoins as Bitcoin price continues to stall under the $38,000 psychological level. Another possible reason is the recent surge among meme coins, with Dogecoin (DOGE) recording almost 3% gains over the last day.

However, despite the pump seen among meme coins, none has been able to match what is seen in the Meme Kombat ecosystem.

It's a Mortal Kombat finisher for context⚡️

— Meme Kombat (@Meme_Kombat) November 28, 2023

GROK Outlook As Grok Price Tests Crucial Support Level

The Grok price is sitting on the crucial support at $0.0209, marked by the mean threshold of the supply zone extending from $0.0181 to $0.0237. A break and close below this level could open the drains for a continuation of the downtrend.

Meanwhile, overhead pressure continues to build, with the 25-day Exponential Moving Average (EMA) limiting the upside potential of GROK at $0.0214. The Parabolic SAR also adds credence to the bearish outlook, tracking Grok’s price from above at $0.0268.

Increased selling pressure from this supplier congestion level could see the Grok price plunge below the $0.0209 mean threshold.

An extended seller momentum could lower the price, falling out of the supply zone (still acting as a bullish breaker) to find support at the 50-day EMA at $0.0180. In the dire case, the slump could drop lower to confront the 100-day EMA at $0.0142, with such a move denoting a 35% fall below current levels.

On momentum metrics, buying pressure continues to wane, indicated by the Relative Strength Index (RSI), inclined south and extending in that direction. Once it slips below the 50 levels, it could spell doom for GROK holders, as it would solidify the bearish grip on GROK, at least in the short term.

The Awesome Oscillators (AO) also support this outlook, with its histogram bars steadily reducing in volume as they edge towards the midline. Again, once these flip to the negative territory, the bears would solidify their presence in the GROK market.

Converse Case

On the other hand, if bulls leverage the opportunity to buy the dip, meaning the mean threshold at $0.0209 holds as support, Grok price could pull north, potentially escaping above the upper boundary of the zone at $0.0237.

To confirm the continuation of the uptrend, however, Grok price must venture into the second supply zone, which stretches from $0.0254 to $0.0289, overcome the roadblock due to the Parabolic SAR at $0.0268 and break and close above its midline at $0.0272.

In a highly bullish case, Grok’s price could extend to tag the range high at $0.0302. Such a move would constitute a 42% climb above current levels.

With Grok’s price dilly-dallying around the mean critical level, attention has shifted to a more actionable meme coin, MK, a formidable contender in the space and one of the best crypto presales to invest in this year.

Promising Alternative To GROK

MK is one of the most promising alternatives to Grok, with both being players in the meme coin ecosystem. It is the powering token for the Meme Kombat project, a stake-to-earn ecosystem with a wide range of rewards for token holders and stakers. The project continues to record remarkable success, selling fast through its presale stage.

$MK is reaching new heights and taking the #memecoin world by a storm. Buy into the presale now! https://t.co/2x2FvsuR61

— Meme Kombat (@Meme_Kombat) November 28, 2023

Meme Kombat presale now boasts a stark $2.290 million in sales, out of the $2.5 million target. In the current stage, each MK token is selling for $0.214, with investors using ETH to buy MK. Token holders do not have to wait until the end of the presale, with the staking dashboard now live.

📣 Major Update 📣

The Meme Kombat Staking Dashboard is officially live and ready to be used by you!

Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G

— Meme Kombat (@Meme_Kombat) November 9, 2023

Take advantage of the project’s staking function to earn passive income. Stakers get Annual Percentage Yields (APY) as high as 387% as of press time, with 70% of the project’s supply already staked.

Visit Meme Kombat’s website to buy MK in the presale here.