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The SatoshiVM price has plummeted by 62% in the last 24 hours to trade at $3.93 as of 1:00 a.m. EST.
This comes amid scam allegations from the community after a rollercoaster ride since the launch of the new Layer 2 network for the Bitcoin blockchain.
❤💛💚💙
🇺🇸 In recent news, it was revealed that $SAVM is owned by Scam Influencer 'MacnBTC'.
He dumped $20 MILLION worth of tokens with 250 paid influencers.
Innocent people's money have been stolen, as they were lied to.
Many other influencers caught.
SAVM -55% in 24hrs pic.twitter.com/cRMQNdvGZD
— yourfriendSOMMI ❤️💛💚💙 (@yourfriendSOMMI) January 25, 2024
SatoshiVM Price Prediction
Analyzing 1-hour SatoshiVM/USDT charts, we see that the market is in a downtrend, as indicated by the price being consistently below the moving average (orange line) and the Bollinger Bands (BB) widening, which suggests increasing volatility to the downside.
Additionally, from the Bollinger Bands (BB), we see that the price has been trading towards the lower band, indicating that it is in a strong downtrend. The Relative Strength Index (RSI) is near the 33 mark, which is close to the oversold threshold of 30. This indicates that the market is not in the oversold territory yet but could soon be.
The Average Directional Index (ADX), used in gauging market trends, is above 40, which indicates a very strong trend. Given the overall context, this strong trend is a downtrend.
The last few candlesticks show a mix of red and green with no dominant momentum, indicating some indecision in the market. However, the presence of long red candles before this pattern indicates strong selling pressure.
SatoshiVM Price Prediction: What Are The Chances of A Reversal?
Despite the general bear trend on the token, the northern trajectory on the RSI could suggest some mounting bull pressure, which would indicate a potential reversal.
The Awesome Oscillator (AO), currently below zero, is reverting towards the positive region with green histograms, which suggests building bullish momentum in the market.
The price has recently experienced a slight increase, as indicated by the few green candlesticks that are forming at the end. However, without a significant increase in volume or a change in the position relative to the moving average, this may not indicate a trend reversal. Additionally, looking at the Bollinger Bands again, the price action is not showing signs of rebounding strongly back to the upper band, which would suggest a potential reversal.
1-hour SatoshiVM/USDT | Source: TradingView
Generally, the market is in a strong downtrend, as indicated by most of the technical indicators. There is some recent price stabilization, but the indicators do not yet suggest a reversal.
Meanwhile, as the SatoshiVM price plummets, Meme Kombat is emerging as another promising alternative for meme coin lovers with the the project ranking among 2024’s top presale picks.
Is MK The Go-to Meme Coin?
Described as “an innovative gaming platform designed for enthusiasts,” the Meme Kombat ecosystem runs on the MK token. More than $7.4 million has been raised during the project’s presale, with the MK token presently selling for $0.279.
We have surpassed the $7.4 million mark in the $MK presale🥊
One step closer to finishing this up⚔️ pic.twitter.com/QdKOPIjv5G
— Meme Kombat (@Meme_Kombat) January 25, 2024
Players may take part in combat as various meme characters, choosing their favorite meme coins and various betting odds. Players get the chance to engage in larger conflicts in addition to the usual ones that even bigger rewards.
You get to play any one of them right now. Which one are you picking? pic.twitter.com/zp8Zi6IRJK
— Meme Kombat (@Meme_Kombat) January 23, 2024
Anyone who purchases MK tokens during the presale may start collecting APY on their tokens right now without having to wait for fights. The annual percentage yield (APY) is now at 125%.
Crypto analyst Jacob Bury says the project has the potential to be the next Pepe.
To participate in the MK presale, visit the official website here.
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