THORchain network’s native RUNE token has seen an impressive rally following a +33% pump, but with RUNE price trading high, investors are asking ‘is it too late to buy THORchain?’.
The THORchain rally has been fuelled by incredible growth in Thorswap trading volumes, which now places THORchain as the third-biggest DEX with no signs of slowing down soon.
Volume is up all across crypto@THORChain is #3 DEX and still gaining market share over others
— TCB (@THORmaximalist) November 10, 2023
Indeed, in the first 10 days of November, THORchain has now seen more volume than in the first half of October – highlighting the significant growth.
The DEX volume growth appears to have been fuelled by THORchain’s growing prominence as a liquidity layer of last resort for CEXs to meet customer need.
RUNE Price Analysis: As THORchain DEX Volumes Surge is It Too Late to Buy THORchain?
Despite ongoing resistance, THORchain continues to push up, with RUNE currently trading at a market price of $3.95 (representing a 24-hour change of +0.78%).
The upside move was triggered on October 21st, as two-months of consolidation at a strong support zone primed RUNE price to hammer up above the 20DMA.
This crucial moving average level has since provided RUNE with supportive feet for an impressive +162% rally over the past month, with RUNE price action showing few signs of weakness.
In what can be described as a breakout trend, RUNE’s RSI has been at a strong overbought signal around 80 for 18-days, as upside velocity remains defiant.
This has become reflected in the MACD, which shows an astute bullish signal at 0.0886 as RUNE price continues to push high.
Yet, amongst the move, the 200DMA has only just started to ascend, showcasing the dramatic upside over the past two weeks triggered by rapid network growth.
RUNE price therefore appears strong at current levels, with price establishing a foothold above $3.8, suggesting the breakout trend is likely to continue.
This leaves RUNE price with an upside target at $4.20 (a possible +6.52%).
While downside risk here is limited by a strong lower support level at $3.3 (a potential -16.3%).
RUNE price consequently carries a risk: reward ratio of 0.4, a late-stage entry that suggests it could well be too late to buy THORchain on the short-time frame.
But while RUNE price continues to push up against resistance, some investors are playing it safe with a new meme coin presale offering potential 100x returns on the near time frame.
Don’t Miss: Meme Kombat Presale Smashes $1,448,000 in Funding as Traders Flock to Potential 100X
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.
After launching staking and exceeding $1.4 million in the presale, we’ve achieved another significant milestone: reaching 4,000 members in our Telegram community.
Moreover, we hit 500 stakers within the first day!
pic.twitter.com/KaYenJWv2f
— Meme Kombat (@Meme_Kombat) November 10, 2023
Meme Kombat Pits Leading Crypto Meme Communities in High Octane Staking Battles
The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $0.139, and dive into a rewarding ecosystem.
With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality – earning while gaming – sets Meme Kombat apart.
Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.
With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.
By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.
For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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