In the cryptocurrency market, TIA price has been on the rise after the Celestia airdrop, leaving some investors wondering if it is too late to buy into the project. However, there are several concerns surrounding Celestia’s tokenomics and unique selling proposition (USP). First and foremost, the tokenomics of Celestia are considered to be among the worst in the market. With a total supply of 1 billion tokens and only 144 million currently circulating, the dilution of supply over the next four years is a major cause for concern. The aggressive supply schedule, unlocking over 850 million tokens, has raised alarms among traders and investors alike, casting doubt on the future performance of Celestia.
Despite the skepticism surrounding Celestia, the price action has shown some signs of potential recovery. The recent return to the localized supply zone between $4.25 and $5 has fueled a double-bottomed move, indicating the possibility of a price recovery for TIA. Moreover, the presence of the ascendant 20DMA, currently sitting at $5.63, has provided a strong foundation for further resistance testing around $6.55, just below the all-time high established on November 19 at $7.30. However, it is important to note that TIA price remains vulnerable and the Relative Strength Index (RSI) indicates a bearish signal, with the RSI currently reading at 62.5. While this is a cooling down from the major over-heating at launch, it still suggests that the price is considered to be overbought at these levels.
Considering the current state of Celestia, it is essential to evaluate the risk-reward structure before making any investment decisions. With a potential upside target of $6.55, representing a 5.72% increase, the short-term outlook seems relatively promising. However, there is also a significant downside risk, with the potential for TIA price to return to $5, indicating an 18.33% decrease. This risk-reward analysis results in a structure of 0.31, which is characterized as a bad entry with outlandish downside risk. Therefore, based on this evaluation, it seems that it may indeed be too late to buy into Celestia considering the current circumstances.
While Celestia struggles to regain its momentum, there is an exciting opportunity in the form of Meme Kombat, a meme-based gaming and betting platform. Meme Kombat offers a unique and captivating arena where characters tap into crypto communities, engaging in animated battles. Players have the freedom to place bets on these battles and can potentially earn attractive rewards. With an upcoming Season 1 featuring 11 distinct meme characters and Season 2 already on the horizon for December 2023, there is no shortage of action within Meme Kombat. The decentralized nature of the project, combined with AI-driven battles, ensures transparency and keeps players engaged.
Meme Kombat not only provides excitement but also prioritizes trust and transparency. The project is committed to transparency, conducting a security audit of its smart contract and making the findings public. This commitment is supported by the founder and project lead, Matt Whiteman, who brings two decades of experience in process design and holds the position of COO at North Technologies. The project’s physical address in Amsterdam further adds to its trustworthiness, distinguishing it from many other projects that hide behind anonymity.
In addition to trust, Meme Kombat offers appealing tokenomics for potential investors. The Meme Kombat ($MK) token is priced attractively at $0.214, with a price rise observed in just three days. Stakers of the $MK token can benefit from a generous APY of 112% and earn passive income. These staked tokens can also be used to place bets in the Meme Kombat arena, creating a dual functionality that sets Meme Kombat apart from other platforms. Furthermore, the more engagement on the platform, the more income can be earned, making it an enticing opportunity for those looking to diversify their portfolio.
In a booming GambleFi industry, Meme Kombat presents a fresh and innovative approach by merging memes, gaming, and blockchain. With its compelling offering and the potential for significant growth, Meme Kombat should not be overlooked. For those interested in joining the presale and staying up to date with Meme Kombat, the MK Telegram is the place to be. It is important to note that investing in cryptocurrency carries a high level of risk, and this article only provides informational purposes and does not constitute investment advice.
While Celestia faces several concerns and drawbacks, particularly in terms of its tokenomics and supply schedule, there is still potential for a price recovery. However, the risk-reward structure suggests that it may be too late to buy into Celestia. Instead, investors may want to explore the promising opportunity presented by Meme Kombat, a meme-based gaming and betting platform that offers transparency, attractive tokenomics, and a unique user experience.