{"id":51047,"date":"2023-08-21T07:30:13","date_gmt":"2023-08-21T11:30:13","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/hedera-is-going-to-zero-as-hbar-price-plummets-5-overnight-and-this-new-meme-coin-takes-all-the-attention-250000-raised-already\/"},"modified":"2023-08-21T07:30:16","modified_gmt":"2023-08-21T11:30:16","slug":"hedera-is-going-to-zero-as-hbar-price-plummets-5-overnight-and-this-new-meme-coin-takes-all-the-attention-250000-raised-already","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51047","title":{"rendered":"Hedera is Going to Zero as HBAR Price Plummets 5% Overnight and This New Meme Coin Takes All the Attention \u2013\u00a0$250,000 Raised Already"},"content":{"rendered":"
\n

Hedera Hashgraph (HBAR) continues to trade in tight-fought consolidation above the 200DMA, but with two-failed tests at resistance, many are now saying ‘Hedera is going to zero’ – find out in this HBAR price analysis.<\/p>\n

This comes following strong performance for HBAR, which exploded +20% last week in the wake of the announcement that FedNow will be integrating Hedera via the Dropp dApp.<\/p>\n

The integration news comes amid a wave of project growth for the Hedera ecosystem, with big names like Kia, Hyundai, and Microsoft all making significant partnerships in recent weeks.<\/p>\n

However, the FedNow integration remains particularly significant as it marks the first formal connection between Hedera and the Federal Reserve.<\/p>\n

HBAR Price Analysis: Is Hedera Going to Zero Amid Price Tumble?<\/strong><\/h2>\n

As Hedera struggles against tough resistance, HBAR is trading at a current price of $0.063 (a 24-hour change of +3.26%).<\/p>\n

Following an impressive +90% rally since June 10, which saw HBAR push-up from rock-bottom price levels around $0.04 to reach a local high of $0.075.<\/p>\n

However, rejection from the upper trendline has triggered a thumping -17% retracement move, leaving price action reeling in a battle to establish consolidation above the 200DMA.<\/p>\n

The 200DMA has become critical to price action, forming a long-standing capstone of resistance from the start of May until August 14 – failure to build support here could have devastating consequences for price action.<\/p>\n

Indeed, the importance of this level has been deepened by the incoming convergence of the ascendant 20DMA – with $0.06 now forming the key support level to watch.<\/p>\n

Indicators provide little relief, with Hedera’s RSI still showing bearish divergence with an over-sold signal at 56.98.<\/p>\n

While the MACD has been slowing, to showcase extremely marginal bullish divergence at 0.0001.<\/p>\n

Overall, this leaves HBAR in a precarious position – with a well-defended consolidation forming the lynchpin of rally survival.<\/p>\n

To the upside, HBAR continues to target the local high at $0.075 ( a possible +19.62%).<\/p>\n

On the downside, HBAR is facing a possible plummet down to $0.046 ( a possible -26.63% move) if price action breaks down.<\/p>\n

This leaves Hedera with a risk: reward ratio of 0.74 – a bleak outlook dominated by the threat of downside risk on the short-time frame.<\/p>\n

Yet, while the Hedera pump seems to be slowing down, smart money have already rotated their gains into the next moon-shot sensation: meet Sonik coin.<\/p>\n

Sonik Coin Surges in Attempt at $100M Market Cap Super-Shot<\/strong><\/h2>\n

Sonik Coin ($SONIK)<\/strong>, which is not only making waves in crypto markets, but also racing – with the audacious goal of being the fastest token to hit the $100M market cap.\u00a0<\/p>\n

And given the current trajectory, this aspiration may soon be a reality – as this rockstar presale has surged to a jaw-dropping +$250,000 raised in less than a week.<\/p>\n

<\/oembed><\/figure>\n

But what has got markets so excited about the unlikely Sonik coin? The answer is in the APY – lets dig down into this further.<\/p>\n

Sonik Presale ‘Gotta Go Fast’ as Smart Money Angle for Huge Staking APY<\/strong><\/h2>\n

\u00a0An intriguing 50% of the mammoth 300 billion $SONIK supply has been allocated for early investors, making it a limited-time golden opportunity.\u00a0<\/p>\n

With each token priced at a meager $0.000014, enthusiasts have the perfect entry point, especially before its much-anticipated debut on Uniswap post-presale.\u00a0<\/p>\n

This decentralized exchange is a powerhouse, and $SONIK’s presence there will undoubtedly amplify its visibility manifold.<\/p>\n

But Sonik Coin is more than just another meme coin, the staking APY<\/strong> of an astounding 4,300%<\/strong> speaks volumes about its potential returns.\u00a0<\/p>\n

Staking not only adds an avenue for passive income, but its inclusion also showcases the team’s commitment to longevity and stability.\u00a0<\/p>\n

The idea? By staking, holders are encouraged to hold onto their tokens for more extended periods, thus mitigating volatile price swings and cementing a firm foundation for steady growth.<\/p>\n

<\/oembed><\/figure>\n

Now, let\u2019s talk about $PEPE, Pepecoin’s astronomic growth\u2014delivering jaw-dropping returns of over 10,000% to early backers\u2014 has set the precedent.\u00a0<\/p>\n

Given $SONIK\u2019s innovative staking model and the infectious enthusiasm around its branding (a nod to the ever-popular Sonic the Hedgehog), it’s poised for a similar, if not more impressive, trajectory.<\/p>\n

The transparent, community-centric vision of the Sonik Coin’s founders, paired with its tantalizing staking rewards and the buzz it has already generated, sets it apart in a sea of meme coins.\u00a0<\/p>\n

Check out the Sonik Telegram<\/strong> and Twitter <\/strong><\/a>here.<\/p>\n

If history and market patterns tell us anything, the early bird catches the worm. Or in this case, rides the supersonic wave.<\/p>\n

Buy Sonik Here<\/strong><\/p>\n

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.<\/sup><\/i><\/p>\n<\/p><\/div>\n