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Loom Network (LOOM) recently experienced a bullish trajectory, witnessing a 19% price surge to reach $0.17 before falling.
LOOM is actively trading at $0.14 as of 10:01 a.m. EST, reflecting a 24.7% gain in the last 24 hours as well as a 109.5% surge over the past week.
The token’s 24-hour trading volume has also risen by 82% and reached $1.5 million.
LOOM Declines Within the Rising Channel
After a sustained consolidation, LOOM has broken out, giving the bulls the opportunity to drive the price upward. The price appears to be trading within the confines of a rising channel pattern.
Despite instances where the bears have tried to pull the price down, the bulls have managed to secure a foothold, rebounding three times on the lower boundary of the rising channel.
The bullish outlook receives support from the 21 and 50 moving averages, which indicate a crossover at $0.046. Currently, the simple moving averages act as price support for LOOM, with values of $0.101 and $0.122, respectively.
On the other hand, the relative strength index (RSI) is trending downward from the overbought region of 70, suggesting a pullback in LOOM’s price. However, if the bulls maintain their footing, an RSI rebound could follow.
Loom Experiencing Bullish Trend
LOOM is experiencing a general bullish trend, trading along the rising channel. If the bullish momentum continues, LOOM’s price could potentially reach $0.18.
Conversely, if a candlestick opens below the 21-moving average, the bulls may find support at the $0.10 level.
Another crypto that’s on a bullish trend is Meme Kombat (MK), which offers a great opportunity for investors with its Stake to Earn and Stake to Play features, along with a low-priced presale offer.
Meme Kombat (MK) S2E, S2P
The Meme Kombat token ($MK) has achieved an impressive milestone, accumulating over $113,157 in short order since its launch. The current auction price for the $MK token stands at $1.667.
Meme Kombat makes staking and wagering straightforward. Winners not only receive $MK tokens but also get a chance to win valuable prizes.
$MK | Meme Kombat is an innovative new gaming platform designed for gaming enthusiasts. #GameFi sector is growing, so it is worth checking 💯
Devs are doxxed on website, presale is ongoing and they already raised $100K+ | Check details below👇 and Dyor@Meme_Kombat
TG:… pic.twitter.com/wNlFytuOEC— $SHIB KNIGHT (@army_shiba) September 27, 2023
Long-term token stakers can enjoy passive income through an annual 112% yield (APY), which factors in the duration of staking and the level of engagement on the platform.
The staking mechanism is automatic for presale buyers, and rewards accrue during the presale period. After the presale concludes, presale stakers can re-stake their tokens via the claim page.
While $MK tokens can be withdrawn from staking at the end of the presale, doing so will result in the forfeiture of rewards earned during that time. Staking rewards compound on a daily basis.
Staking today positions you to start betting when the battling system goes live after the presale ends. Only staked tokens can be used for wagering, promoting a long-term commitment to the project.
MK Notable Reviews
As the platform expands and network effects come into play, the ecosystem’s value will grow, potentially increasing the value of the Meme Kombat token as more buyers drive up its price.
YouTube crypto analyst Oscar Ramos, with 55,000 subscribers on his crypto channel, provides a thoughtful review of the project.
He appreciates the project’s aesthetics and image quality, which are crucial for a meme and gaming project. Oscar also highlights the impressive APY and the project’s audit, further boosting its credibility.
Another crypto analyst predicts that Meme Kombat could see a 10x increase in value at launch and believes it holds 100x potential.
The project has garnered significant attention from premier crypto news platforms like Decrypt, Cointelegraph, and CryptoSlate, showcasing its immense potential in the industry.
MK Roadmap
The MK team has allocated 50% of the token supply available in the presale, with 30% allocated for staking and battler rewards, 10% for community rewards, and 10% for decentralized exchange liquidity. The total token supply is 12,000,000.
The global online gambling market is a massive industry, estimated at $95 billion for 2023, with a projected compound annual growth rate of 8.54% over the next four years, aiming for a market volume of $131.90 billion by 2027.
Rivalries so deep, you can almost taste it 👀#Memekombat pic.twitter.com/9R7Dd8BBJg
— Meme Kombat (@Meme_Kombat) September 28, 2023
Meme Kombat stands at the forefront of the convergence of gaming and gambling, leveraging blockchain, AI, and memes.
Additionally, it offers a form of liquid staking, which is gaining prominence in the DeFi crypto space.
By allowing staked tokens to be used in other economic activities while remaining staked, Meme Kombat effectively functions as a form of liquid staking.
This aligns with the trend accelerated by Ethereum’s shift to a proof-of-stake protocol.
Investing in Meme Kombat, priced at $1.667, provides an opportunity to participate in meme-infused gaming and gambling while enjoying a secure income stream from the token supply allocated to community rewards.
You can purchase Meme Kombat tokens today using ETH, BNB, or USDT (ERC-20 and BEP-20).
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