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Near Protocol price surged more than 18% in the last 24 hours to trade at $3.33 as of 5:20 a.m. EST, while trading volume surged 53%.
NEAR’s weekly chart shows even greater success, as the coin skyrocketed by nearly 47%. The last time NEAR soared so high was October 2022, making today’s level its yearly high.
Experts believe that Near Protocol’s sudden price increase may have been caused by the success of its blockchain in attracting more developers and collaborations, which could open up new potential use cases.
Meme coins on NEAR have also attracted much attention recently, particularly regarding NEKO, the first meme coin to launch on NEAR Protocol. NEKO is recording its record growth, rising by over 413% in the last two days.
Memecoins on #NEAR are flourishing…👀
Don't be underexposed to $NEAR Eco coins…we have seen $NEKO doing 100k$ to 10M$ in a span of 1 month, it's time for $SHITZU to catch up❓
You better be fast it's gonna take off 🚀$SHITZU $NEKO #memecoin pic.twitter.com/KIGKZZs08T
— Dixit (@Dixitrao_) December 21, 2023
Near Protocol Price Forecast
Whether or not NEAR’s double-digit price increase was caused by the interest in meme coins or its entire blockchain, in general, may be up for debate among the project’s community members. However, the fact is that the coin did see a price surge, and right now, the surge seems to be continuing.
Those monitoring NEAR over the last several days have noted the upward intersection of the token’s MACD line with its trend line — a bullish signal often followed by a substantial price increase, as this time.
The chart above shows that NEAR’s Bollinger bands have gone extremely wide, another bullish signal for the project’s cryptocurrency. However, its RSI score has climbed to 78.70 at the time of writing, suggesting that NEAR is strongly overbought.
While this is a bearish signal, it is not guaranteed that NEAR price will see a drop, at least not on its own. With that said, NEAR seemingly hit resistance at $3.30, which it is currently struggling to breach. Given the number of bullish signals and their strength, NEAR might soon breach this level and continue to a more severe resistance level at $3.5.
If the token maintains momentum, it might even exceed $4. Alternatively, if the price is rejected and NEAR starts seeing a correction, its price could sink back to $3 and potentially back to a support at $2.80.
Alternative To Near Protocol
While NEAR’s recent price surge made it highly rewarding to be a NEAR token holder, experts suspect that Bitcoin Minetrix (BTCMTX) can deliver even greater returns quickly.
Bitcoin Minetrix is one of the biggest presales of 2023, and so far, the project has raised over $5.6 million. The project itself offers a cloud mining platform that mines Bitcoin.
As a cloud miner, it allows users to mine BTC without spending thousands of dollars on buying BTC miners and paying for electricity.
The project also points out that one BTC mined in 2013 appreciated 27,300% in 10 years. So, getting BTC today could bring similar returns in another decade.
While this is impossible to know, the interest in BTCMTX promises massive returns for the token holders. Even if the returns are not as significant as expected, buying BTCMTX now allows you to mine BTC on a safe, decentralized, transparent cloud mining platform.
All users need to do is buy BTCMTX, stake it, and receive credits in return that will allow them to mine Bitcoin.
In other words, BTCMTX stands to provide returns in two ways — via its price increase and by letting you mine Bitcoin, which — as all experts agree — will only continue to grow in value over time.
Right now, the BTCMTX presale offers the token for only $0.0123. But the price will increase in about 17 hours so snap it up now if you are interested before the hike.
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