<![CDATA[<figure class="image"><img src="https://cimg.co/news/126189/333223/polygonmatic.jpg" srcset="" width="" class="content-img" alt=""><figcaption>Source / Sam Cooling x PlacidPalace</figcaption></figure>Polygon (MATIC) crypto price has sunk -6% amid broader de-risking in markets, triggered by the conflict between Israel and Hamas - but with MATIC price trading low - is Polygon going to zero?This comes just a week after co-founder Jaynti Kanani <a href="https://cryptonews.com/news/polygon-co-founder-jaynti-kanani-steps-down-after-six-years.htm">revealed</a> he was leaving Polygon ahead of the highly anticipated Polygon 2.0 to explore "new adventures".<figure class="media"><oembed url="https://twitter.com/jdkanani/status/1709569503099519296"></oembed></figure>A major down-shift for Ethereum - which fell below $1,600 yesterday - could be the trigger for the latest drop.<h2 id="strong-matic-price-analysis-can-polygon-recover-from-6-drop-strong">MATIC Price Analysis: Can Polygon Recover From -6% Drop?</h2>As price action finds relief from localised retracement, MATIC is currently trading at a <a href="https://www.tradingview.com/symbols/MATICUSD/">market price of $0.53 </a>(representing a 24-hour change of +0.34%).The recent -6% slide came as MATIC rejected from consolidation around $0.55 - in a tumultuous tumble that saw price crash down through the 20DMA (which stands at $0.53).<figure class="image"><img src="https://cimg.co/news/126189/333214/thumbnail-maticusdt-2023-.jpg" srcset="https://cimg.co/news/126189/333214/responsive-images/thumbnail-maticusdt-2023-___media_library_original_1634_901.jpg 1634w, https://cimg.co/news/126189/333214/responsive-images/thumbnail-maticusdt-2023-___media_library_original_1200_662.jpg 1200w, https://cimg.co/news/126189/333214/responsive-images/thumbnail-maticusdt-2023-___media_library_original_900_496.jpg 900w, https://cimg.co/news/126189/333214/responsive-images/thumbnail-maticusdt-2023-___media_library_original_720_397.jpg 720w, https://cimg.co/news/126189/333214/responsive-images/thumbnail-maticusdt-2023-___media_library_original_600_331.jpg 600w, https://cimg.co/news/126189/333214/responsive-images/thumbnail-maticusdt-2023-___media_library_original_300_165.jpg 300w" width="1634" class="content-img" alt=""><figcaption>TradingView / MATIC USDT</figcaption></figure>When MATIC last fell below this moving average support, the 20DMA created a 66-day long period of upside resistance - highlighting the significance of the recent return below the MA.As for the 200DMA - a level untouched by Polygon since April 30 - it remains high above ongoing price action at $0.76.Polygon's indicators surprisingly remain bullish despite the downside move.The RSI has cooled-off during the -6% drop, flipping from bearish divergence to a bullish 45.7 - which reflects the now over-sold sentiment surrounding MATIC.While the MACD maintains minor bullish divergence at 0.0009 - signalling appetite for MATIC at these levels.Overall, Polygon appears weak here, more than a week of consolidation above the 20DMA failed to crack upside resistance at $0.60 - and with price now stuck back below the moving average - further downside seems likely.<figure class="image"><img src="https://cimg.co/news/126189/333215/thumbnail-maticusdt-2023-.jpg" srcset="https://cimg.co/news/126189/333215/responsive-images/thumbnail-maticusdt-2023-___media_library_original_1634_901.jpg 1634w, https://cimg.co/news/126189/333215/responsive-images/thumbnail-maticusdt-2023-___media_library_original_1200_662.jpg 1200w, https://cimg.co/news/126189/333215/responsive-images/thumbnail-maticusdt-2023-___media_library_original_900_496.jpg 900w, https://cimg.co/news/126189/333215/responsive-images/thumbnail-maticusdt-2023-___media_library_original_720_397.jpg 720w, https://cimg.co/news/126189/333215/responsive-images/thumbnail-maticusdt-2023-___media_library_original_600_331.jpg 600w, https://cimg.co/news/126189/333215/responsive-images/thumbnail-maticusdt-2023-___media_library_original_300_165.jpg 300w" width="1634" class="content-img" alt=""><figcaption>TradingView / MATIC USDT</figcaption></figure>This leaves MATIC with an upside target at $0.60 (a possible +13.64%).While downside risk could see MATIC fall to the lower trendline at $0.50 (a possible -5.3%).Polygon's risk: reward ratio therefore stands at 2.57 - a strong entry that suggests Polygon is not going to zero.But while<a href="https://cryptonews.com/coins/matic-matic-network/"> Polygon bag-holders are strapped in for a rocky ride</a>, a new meme coin has emerged with the potential to rival PEPE and SHIB.<h2 id="strong-meme-kombat-mk-the-next-big-sensation-in-meme-coin-space-strong">Meme Kombat (MK): The Next Big Sensation in Meme Coin Space?</h2><figure class="image"><img src="https://cimg.co/news/126189/333220/r-2023-09-25-015332-media.jpg" srcset="https://cimg.co/news/126189/333220/responsive-images/r-2023-09-25-015332-media___media_library_original_1920_1080.jpg 1920w, https://cimg.co/news/126189/333220/responsive-images/r-2023-09-25-015332-media___media_library_original_1200_675.jpg 1200w, https://cimg.co/news/126189/333220/responsive-images/r-2023-09-25-015332-media___media_library_original_900_506.jpg 900w, https://cimg.co/news/126189/333220/responsive-images/r-2023-09-25-015332-media___media_library_original_720_405.jpg 720w, https://cimg.co/news/126189/333220/responsive-images/r-2023-09-25-015332-media___media_library_original_600_338.jpg 600w, https://cimg.co/news/126189/333220/responsive-images/r-2023-09-25-015332-media___media_library_original_300_169.jpg 300w" width="1920" class="content-img" alt=""><figcaption>Source / Meme Kombat</figcaption></figure><a href="https://cryptonews.com/ext/memekombat">Meme Kombat (MK) </a>has recently hit the crypto scene and is quickly becoming a sensation, with a fresh and innovative stake-to-mine system, it's gathered an impressive $431,000 in its presale event alone.Powered by AI, Meme Kombat introduces battles between popular meme characters, allowing rival crypto users to wager using its native ERC-20 token, MK.This meme coin is set to redefine the meme coin space, potentially rivalling giants like Pepe and SHIB with its engaging approach and promise of playing on crypto community divisions.<figure class="image"><img src="https://cimg.co/news/126189/333221/screenshot-2023-09-22-at-.jpg" srcset="https://cimg.co/news/126189/333221/responsive-images/screenshot-2023-09-22-at-___media_library_original_900_411.jpg 900w, https://cimg.co/news/126189/333221/responsive-images/screenshot-2023-09-22-at-___media_library_original_720_329.jpg 720w, https://cimg.co/news/126189/333221/responsive-images/screenshot-2023-09-22-at-___media_library_original_600_274.jpg 600w, https://cimg.co/news/126189/333221/responsive-images/screenshot-2023-09-22-at-___media_library_original_300_137.jpg 300w" width="900" class="content-img" alt=""><figcaption>Source / Meme Kombat</figcaption></figure><h2 id="strong-what-makes-meme-kombat-stands-out-strong">What Makes Meme Kombat Stands Out?</h2><ul><li>Unique Gaming Mechanism: Beyond simple trading, Meme Kombat offers users an interactive gaming experience. Users can bet on their favorite meme characters in Player vs Player or Player vs Game matchups.</li><li>Incentivized Staking: Keeping user engagement at the forefront, 30% of MK's total supply is designated for staking rewards, motivating long-term investment and platform interaction.</li><li>Gaining Rapid Traction: Even before its official launch, the growing interest in Meme Kombat is evident. Their presale has already garnered a notable $310,000, with anticipation building for its listings on major decentralized exchanges like Uniswap.</li><li>Backed by a Robust Team: Under the leadership of the experienced founder Matt Whiteman, and with an audited smart contract by Coinsult, Meme Kombat guarantees both innovation and security.</li><li>Promising Roadmap: With plans for platform launch in late Q3 2023, the project promises continuous enhancements. Each new season aims to introduce novel characters and gaming modes, ensuring user engagement remains high.</li></ul>Considering the current traction, innovative gaming approach, and a solid roadmap, Meme Kombat indeed showcases the potential to join the likes of Pepe and SHIB - especially as the GambleFi and GameFi narratives continue to grow.<figure class="media"><oembed url="https://www.youtube.com/watch?v=jZvbWTJHS14"></oembed></figure>As the meme coin community eagerly awaits its full-fledged launch, the MK presale offers a golden opportunity for early-bird investors.Join the revolution and be part of the next meme coin sensation <a href="https://t.me/MemeKombatToken">(stay tuned with the MK Telegram)</a>!<a href="https://cryptonews.com/ext/memekombat">Buy Meme Kombat Here</a>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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Is Polygon Going to Zero? MATIC Price Sinks 6% as Novel Meme Coin Rakes in $420,000 in Funding – Next PEPE or Shiba Inu?

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