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The Litecoin price tumbled 3% over the past 24 hours to trade at $70.78 as of 7:40 am EST. But it’s still up 15% in a month.
Litecoin has emerged from a significant accumulation phase and successfully navigated through a downward movement, establishing a solid support level that has contributed to a gradual increase in its price, starting an upward trend.
This upward trend may be attributed to miners replenishing their balances by acquiring 2.6 million LTC, recovering coins sold after the halving between August 3 and August 5.
Strategic investors often perceive it as a bullish signal when miners accumulate block rewards during market rallies. This behavior indicates that miners believe in the potential for further price increases and opt to hold onto their rewards instead of selling them at current prices.
Over the past 30 days, LTC whale transactions steadily increased, hitting a four-month peak with 3,600 large transactions on November 11. Often viewed as a bullish signal, this uptick could signal growing interest from major institutional investors. #Litecoin #CryptoMarket" pic.twitter.com/lPF930AL3X
— IGH Group (@ICOGemHunters) November 14, 2023
On November 11, a significant number of whale transactions occurred, reaching 3,600, the highest since the August 2 halving.
Litecoin Price: Bulls Poised To Reclaim July High of $114
The LTC price has recently experienced a breakout after a period of consolidation, enabling the bulls to recover their losses from the $58.2 support level.
Initially, the token faced resistance and underwent a bearish push after halving on August 2, declining to the $66 support level. Subsequently, the price dropped further to $58.2.
This support zone has acted as a solid foundation for the bulls, enabling them to regain control and drive higher prices. As a result, the price has surpassed the resistance level at $70.
Litecoin price correction?
However, a potential bearish signal is forming at the $78 price level, leading to a price correction as bears attempt to regain control and push the price downward. This may force the bulls to retreat to a support zone around $66.
While investors are considering the best entry levels for Litecoin, the Meme Kombat token is experiencing a significant surge in its presale phase. This surge presents an attractive investment opportunity for investors looking for potentially lucrative returns compared to LTC.
Buy MK Tokens Fast, Price to Increase in 2 Days
The current presale stage of Meme Kombat (MK) is nearing its end, with only two days remaining. As the deadline approaches, investors are hurrying to acquire additional presale tokens before the price increases.
A whale was recently spotted buying $16,963 worth of MK tokens. This has helped propel the presale of Meme Kombat (MK) to $1.689 million, nearing its target of $2 million.
This whale definitely knew what to buy… $MK pic.twitter.com/60zTTZy6UU
— Meme Kombat (@Meme_Kombat) November 14, 2023
Investors have a limited time to buy tokens at the current rate of $0.189 per token before the presale stage concludes and the price increases to $0.205.
The price will continue to rise in subsequent stages, ultimately reaching a final listing price of $0.274 by January 2024.
A Lucrative Opportunity for Passive Income
During the Meme Kombat (MK) presale, you can participate and stake your MK tokens, granting you an Annual Percentage Yield (APY) of 112%. Meme Kombat offers convenient automatic staking options, various betting choices, and a strong tokenomics model for long-term sustainability.
You can overcome them💪 pic.twitter.com/0u9TYa0Dmd
— Meme Kombat (@Meme_Kombat) November 14, 2023
You can engage in meme battles and place bets on your preferred memes by holding MK tokens. Furthermore, you can stake a portion of the prize pool, collaborate with fellow participants who have also wagered, demonstrate your expertise in memes, and earn substantial rewards.
Jacob Bury, a crypto influencer and YouTuber with 23.4k subscribers, further explains the potential for significant growth that Meme Kombat (MK) has. He predicts that MK will see a 10X increase in the upcoming weeks and labels it as one of the top five crypto presale projects in 2023.
To participate in the Meme Kombat presale project, visit the official website, connect your Web3 wallet, and acquire MK tokens using BNB, ETH, or USDT.
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