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Tuned into SOMESING’s Growth? Don’t Miss the Crescendo with Meme Kombat

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The global cryptocurrency market cap entered into the new week with market-wide gains. Subsequently, data from CoinMarketCap indicated that the market’s collective value had risen 2.75% over the past 24 hours – taking it to approximately $1.08 trillion at press time.

A Standout Performance

During this time, SOMESING (SSX) stood out from the rest of the market with its impressive daily performance. The altcoin saw its price surge more than 16% – elevating it to $0.01988.

SSX also recorded a surge in its daily trading volume along with the notable price increase. The cryptocurrency’s daily volume at press time stood at more than $94 million. This was after it had experienced a whopping 342% spike in trading activity throughout the past day.

Continuing Its Positive Trend

Meanwhile, the recent gain also added to SSX’s impressive weekly streak. CoinMarketCap data indicated that SSX’s price had risen more than 31% over the past 7 days. Should this positive momentum continue, the altcoin may soon gain top position on CoinMarketCap’s list of the biggest cryptocurrency projects. 

The Potential to Overtake Projects

SSX is ranked as the 337th biggest project in terms of market cap, with a market cap of $56,835,910. This placed it on the heels of Bytom (BTM) with its cap of $56,951,814. Should the cryptocurrency receive another price boost in the next few days, it may overtake BTM to claim position 336 on CoinMarketCap’s list. Thereafter, it will need to rise above Phala Network (PHA), with its collective capitalization of $57,098,748.

Technical Overview

TradingView Chart

Daily chart SSX/USDT (Source: TradingView)

From a technical standpoint, SSX overcame the key resistance level at $0.018865 over the past 24 hours and continued to trade above this barrier at press time. Furthermore, it had tapped the next significant price point at $0.025105 during the last trading day but had since retraced to trade at its current level.

Despite the slight correction in price, technical indicators on the cryptocurrency’s daily chart suggested that SSX may continue to rise in the short term. This is mainly because two noteworthy technical flags were triggered on SSX’s daily chart over the past couple of days.

Firstly, the daily Moving Average Convergence Divergence (MACD) line broke bullishly above the daily MACD Signal line. This specific technical flag suggests that SSX’s price recently underwent a bullish trend reversal. In addition, the daily Relative Strength Index (RSI) line crossed above the daily RSI Simple Moving Average (SMA) line, indicating that buyers have gained the upper hand against sellers on SSX’s charts.

Should these technical flags be validated in the next few days, the altcoin’s price may attempt to challenge the aforementioned $0.025105 threshold in the coming few days. However, this bullish thesis may be invalidated if SSX closes a daily candle below the recently breached $0.018865 mark within the next 48 hours.

In this more bearish scenario, SSX could be at risk of correcting to the subsequent support level at $0.015405. This level is also confluent with a positive trend line formed on the cryptocurrency’s daily chart over the past few weeks. Therefore, a break below this price point could lead to SSX plummeting to as low as $0.012460 through the coming fortnight. While SSX attempts to break out toward the upside, Meme Kombat (MK) can potentially generate substantial returns for early-stage investors. 

Meme Kombat: Bringing Utility to Meme Coins

Meme Kombat is an innovative gaming platform built for gaming and cryptocurrency enthusiasts. Users can get so much more out of their meme coin holdings through the platform, including actively placing bets and staking to earn rewards.

The project’s token sale is currently live, meaning that you can buy into this promising project. However, investors looking to get in on the project will need to hurry, as the token sale has already raised $535,180.24. This is more than half the team’s $1 million target for this funding round.

Meanwhile, the project’s website indicated that 1 MK token was worth $0.1667 at press time. Given the growing popularity of the meme coin sector witnessed during this bear market and the fact that Meme Kombat adds a layer of utility to meme coins, the token’s current price is a steal.

The Ability to Earn

Meme Kombat allows users to earn from their meme coin holdings. By simply staking their meme coins, users can bet on battles for the chance to win big. Furthermore, not only will there be regular battles within the Meme Kombat ecosystem, but there will also be more hyped battles. Through these hyped battles, winners will win much larger prizes.

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