As TIA price continues to spike following the Celestia airdrop, price action underpinning the leading modular layer-1 blockchain has become supercharged, leaving some to ask ‘is it too late to buy Celestia?’.
However, in a move disappointing markets, despite returning to a localized supply zone, TIA price action is now struggling to make moves against upside resistance stemming from the all-time high.
#Celestia had a huge run over the last weeks. Now it’s going south and $TIA is about to fall.
The main issue I see with Celestia is their USP as well as their tokenomics which are among the worst I have seen.
Celestia has a Total (not Max) Supply of 1bn, while only 144M… pic.twitter.com/1nARgVXl2p
— 🅳🄸🄶🄸🅵🄾🅇 (@Digifox_) November 24, 2023
This comes as traders ring the warning bells over Celestia’s tokenomics, with concerns growing about the aggressive supply schedule, that will see the current 144m circulating supply dilute with more than 850m tokens (unlocking over the next 4 years).
TIA Price Analysis: Is It Too Late to Buy Celestia As Popular Airdrop Token Struggles With Localized Resistance Level?
With price action struggling to push up into the trading channel, Celestia is current trading at a market price of $6.24 (Representing a 24-hour change of +0.04%).
This follows a recent return to the localized supply zone that has appeared between $4.25 and $5, in an emerging double-bottomed move that could fuel TIA price recovery.
The successful re-test of the supply zone has been given additional feet by the arrival of the ascendant 20DMA (currently sat at $5.63).
Now providing key footing, the 20DMA has set the stage for TIA price to resume resistance testing around $6.55 – a step below the all-time high established at $7.30 on November 19.
Yet, despite the bullish posturing above double-bottomed support in the supply zone, TIA price remains vulnerable.
A look at the RSI indicator highlights this predicament, with the substantial upside move at launch triggered a major over-heating to 82.
This has now cooled down, with the RSI currently reading at 62.5, although this remains a bearish signal, with price considered to be overbought at these levels.
Overall, TIA price looks quite healthy here, the double-test of lower support in the supply zone has provided confidence, and with TIA now mounted atop the 20DMA it seems likely a re-test of the ATH is on the way.
On the short-time frame, TIA price is left targeting $6.55 (a possible +5.72%).
While downside risk from here could see TIA price return to $5 (a potential -18.33%).
Celestia therefore carries a current risk: reward structure of 0.31 – a bad entry characterised by outlandish downside risk, suggesting it is too late to buy Celestia.
But while TIA price struggles to push up, an new meme coin presale is rapidly approaching its highly anticipated exchange listing – you don’t want to miss this.
Meme Kombat Presale Heads For Exchange Launches With $2.24m Raised– Don’t Miss Out!
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
We apologize in advance for this one…#MemeKombat pic.twitter.com/1ilmzHWtuQ
— Meme Kombat (@Meme_Kombat) November 29, 2023
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.
Meme Kombat Pits Leading Crypto Meme Communities in High Octane Staking Battles
The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $0.214 (with a price rise in just 3-days!), 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.
Buy Meme Kombat Here
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.
The post Is It Too Late to Buy Celestia? TIA Price Spikes 16% As New Meme Coin Prepares to Launch on Exchanges – How to Buy Early? appeared first on Cryptonews.
