Near Protocol (NEAR) and Pepe Coin (PEPE) Price Action: Will Market Sentiment Fuel Further Growth?

Crypto markets often see rapid shifts, with assets like NEAR Protocol and Pepe Coin experiencing price swings despite strong investor interest.

Crypto markets have seen rapid shifts, with assets like NEAR Protocol and Pepe Coin experiencing price swings despite strong investor interest. As NEAR’s DeFi expansion boosts the total value locked, traders are monitoring the token’s support level.

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On the other hand, PEPE is stabilizing at key support levels, hinting at a possible breakout. However, both assets are primarily driven by speculation, leaving the long-term value uncertain.

Web3Bay, a platform integrating DeFi staking into e-commerce, offers more than just price movement. It turns shopping into an investment opportunity, focusing on sustainability and financial utility.

As traders assess the technical aspects of these assets, Web3Bay presents a model for the next phase of Web3 integration.

NEAR Protocol’s DeFi Expansion and Price Outlook

investor interest in NEAR Protocol’s decentralized finance (DeFi) ecosystem has surged, with the total value locked (TVL) in its DeFi sector expanding significantly over the past year.

The platform’s DeFi TVL has risen 150% to reach $1 billion, a substantial increase from the $400 million reported in June 2023. This surge in TVL underscores the growing interest from investors in NEAR’s DeFi protocols and applications.

However, despite this optimism, the token’s price has faced volatility, currently stabilizing around the $3 support level. Earlier this year, NEAR’s price more than tripled, recovering from $1 to $3.8, marking a 160% surge in just five months.

This rally was fueled by the token’s strong start to 2024, which saw it outperform major cryptocurrencies like Bitcoin and Ethereum. However, this bullish momentum faced challenges in the summer months, leading to a decline in NEAR’s price.

Following the brief 72% post-election rally that saw NEAR hit highs of $5, the token settled back to $3, a 60% drop from its peak.

This fluctuation closely aligns with network activity metrics, such as daily active addresses and decentralized exchange volumes, which have yet to show a decisive recovery.

According to analysts at Benzinga, maintaining the $3 support could pave the way for rebounds to $4.70 or $5.00. Conversely, if the price dips below $3, further declines toward the $2 mark may follow.

Currently, NEAR trades at approximately $3.06, reflecting a slight uptick from previous levels.

Pepe Coin Stabilizes at Key Support Amid Potential Breakout

After a 40% decline over the past month and an additional 4% drop in the last week, Pepe Coin (PEPE) is stabilizing at a crucial support level.

Technical analysis reveals that if the sellers fail to break the support at $0.000011, the next target for the buyers will be the 50% Fibonacci level, currently at $0.000016.

Moreover, if the price manages to rise above the $0.11 resistance, it could clear the way for a move toward the $0.21 Fibonacci level, with a long-term target of $0.41.

Furthermore, the broader market conditions, particularly the performance of major cryptocurrencies like Bitcoin and Ethereum, will play a pivotal role in determining the future trajectory of PEPE.

In other developments, the accumulation phase appears to be concluding, which could herald a potential upward movement if favorable market dynamics align.

As a result, investors are closely monitoring these developments, as PEPE’s ability to sustain its support levels could signal a significant price recovery.

Web3Bay’s Presale: Stake Your Crypto, Earn While You Shop

Online shopping is evolving beyond just transactions; it’s becoming an investment opportunity. Through its integration with DeFi, Web3Bay allows buyers and sellers to put their earnings to work by participating in liquidity pools.

Rather than holding idle funds, users can stake their 3BAY tokens and earn passive income while engaging in everyday commerce. For sellers, this approach means that profits from sales can immediately start generating yield, reducing the opportunity cost of keeping funds in a wallet.

At the same time, for buyers, staking rewards offset costs, turning shopping into a financial strategy rather than just an expense. By combining elements of e-commerce and decentralized finance, Web3Bay creates a self-sustaining marketplace where money works continuously.

This presale initiative has already raised $1.6 million. Currently in stage 5, the batch price sits at $0.00524, with over 390 million tokens sold.

As adoption increases, Web3Bay’s DeFi-powered shopping model could redefine how people interact with online marketplaces.

Join Web3Bay Presale Now:

Presale: https://web3bay.io/buy

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