Join Our Telegram channel to stay updated on current breaking news coverage. Paw (PAW) token experienced a 47% surge on DEXTools on September 30 and has seen an impressive increase of almost 147,000% in just ten days, going from the initial floor price to its current value of $0.000000001937. While this surge may be enticing, it is important for investors to exercise caution and conduct their own research before investing. The significant rise in Paw price reminds some of the Pepe Coin (PEPE) vibes, which saw a 125% explosion upon listing on Binance Exchange.
Analyzing the four-hour timeframe, the Paw price chart indicates that while the token is still on an upward trend, profit-taking has begun, resulting in a 6% loss within the last 24 hours. The fading histogram bars of the Moving Average Convergence Divergence (MACD) and the red histograms of the Awesome Oscillator (AO) suggest the presence of sellers or bears in the market, potentially limiting the upside potential for PAW. It is important to note that retail traders may take a backseat on the weekend as larger investors take control, leading to increased volatility due to low trade volume. Additionally, it is crucial to exercise caution as pump and dump schemes have been on the rise, particularly for new projects.
On the other hand, the 9-day Moving Average (MA) provides support for Paw price at $0.000000001688, with the associated smoothed MA offering an additional layer of support at $0.000000001412. The Parabolic SAR also indicates a bullish outlook for Paw, tracking the price action from below. If buying pressure increases above current levels, Paw price could potentially surpass the immediate barrier at $0.000000002059. However, the bullish outlook would be invalidated if PAW breaks and closes below the 0.0000000003902 level, which was the last lower high that initiated the uptrend after a consolidation period in the four-hour timeframe.
Another project that has been performing well is MK, the ticker for the Meme Kombat ecosystem, a gaming platform designed for gaming enthusiasts. The project offers various rewards for users, including active betting and passive staking. Endorsements from influential figures in the crypto playing field, such as Crypto Tony, have contributed to the project’s success. Currently, MK is in the presale stage, with each token selling for $1.667. The presale has already raised over $163,780, steadily progressing toward the $1 million target. Investors can purchase MK tokens using Ethereum (ETH) or Tether (USDT). Staking MK tokens offers the opportunity to earn income with Annual Percentage Yields (APY) as high as 112%.
The Meme Kombat ecosystem allows players to buy and stake MK tokens, participate in meme battles, and potentially win more tokens and other prizes. Additionally, users can choose their winners based on winning odds or personal favoritism. Jacob Bury, a YouTube analyst, predicts high returns for early investors in the Meme Kombat project, estimating a 10X growth potential. The project’s tokenomics are community-oriented, highlighting its commitment to MK holders.
Join the Meme Kombat community here
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