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The Xai price surged 39% in the last 24 hours to trade for $0.8788 as of 6:05 a.m. EST time with a 168% jump in trading volume.
The Layer 3 (L3) token seems to have recovered swiftly after earlier massive profit-taking as investors cashed in on the recent airdrop.
I am done claiming my $XAI airdrop allocation!
🔹Price is currently around $0.7 on @binance and @kucoincom.
🔹Let's wait for the dust to settle before making any decisions.
Are you Holding or Selling ?#XAI #XaiGames #Arbitrum #airdrop #gaming pic.twitter.com/m5zPPtiKLb
— basicker.eth (@basicker_eth) January 9, 2024
On January 9, the network distributed XAI tokens valued at $70 million to eligible wallet addresses. The Xai Foundation announced that 125 million XAI tokens were sent to wallet addresses at the time, representing 5% of the total supply.
6 addresses received 1.575 million tokens in the XAI airdrop
According to Spot On Chain monitoring, 6 addresses (possibly belonging to one person) received 1.575 million XAI (worth 1.48 million USD) from the XAI airdrop on January 9th.— DexBot (@dexbot) January 15, 2024
Xai Price Prognosis After Airdrop Recipients Cashed In
In the wake of profit taking, Xai price plunged 30%. It moved from an intra-day high of $0.7332 on January 11 to an intra-day low of $0.5300 the next day. On the daily chart, Xai price has formed a flag pattern. This is a bullish technical formation, suggesting incoming gains for XAI.
TradingView: XAI/USDT 1-day chart
On lower timeframes, Xai price is consolidating within an ascending parallel channel. The 2-hour timeframe shows the altcoin is confronting the $0.9111 resistance level. There is lots of uncollected liquidity residing above this level.
The odds still favor the upside, with the Relative Strength Index (RSI) showing a strong price strength at 66. The Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) are also in the positive territory, showing the bulls dominate the XAI market.
Increased buying pressure above current levels could see Xai price clear the $0.9111 resistance level, with the potential to extend the climb to the $1.2000 psychological level. Such a move would constitute a 35% climb above current levels. 
TradingView: XAI/USDT 2-hour chart
Converse Case
On the flipside, the RSI is deviating to the south, suggesting falling momentum. The histogram bars of the AO are also flashing red while the MACD teases with a bearish crossover, which will be executed once it crosses below the signal line (orange band).
Increased selling pressure could see Xai price descend to the midline of the channel, which confluences with the 25-day Exponential Moving Average (EMA) at $0.7786. A break and close below this level would open the drains for an extended fall, with XAI price likely to test the 50-day EMA at $0.7111.
In the dire case, Xai price could extend a leg down to the lower boundary of the channel, with a breakdown of this support level sending XAI to the depths of the $0.5476 support level.
While Xai navigates the aftermath of profit-taking, investors looking for the next big thing are turning their attention to presale coins like MK, a new GameFi token with the potential for 10X growth. It is among the top three presales to buy and also among a ranking of the best meme coins to buy now.
Promising Alternative To XAI
MK is the native asset for the Meme Kombat ecosystem, an innovative new gaming platform designed for gaming enthusiasts. The project offers participants a chance to combat using meme characters of their choice.
Meme Kombat aims to be one of the premier fighting games on the market and especially in the web3 gaming space⚔️
Which is your favorite fighting game of all time? pic.twitter.com/zlbIjXz3AW
— Meme Kombat (@Meme_Kombat) January 14, 2024
Meme Kombat is in the presale stage, with sales now reaching upwards of $6.88 million out of a target objective of $8 million. Investors looking to buy MK can do so on the website with each token selling for $0.279.
We passed $6.8 million raised in the $MK presale, as well as 1000 memebers on Discord⚔️
Congrats fighters! pic.twitter.com/LXTzhNScON
— Meme Kombat (@Meme_Kombat) January 14, 2024
MK token holders can leverage the staking dashboard, now live, to stake their MK holdings for Annual Percentage Yields (APY) as high as 137%.
📣 Major Update 📣
The Meme Kombat Staking Dashboard is officially live and ready to be used by you!
Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G
— Meme Kombat (@Meme_Kombat) November 9, 2023
Visit the Meme Kombat website to buy MK in the presale here.
Also Read:
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- Meme Kombat Presale Surges Towards $7 Million – Could This Be The Next Meme Coin To Explode?
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