Price Analysis

NEM- An Infant Crypto, Is On Its Way To Emerge As Stronger Than Ever Before

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NEM or the New Economy Movement is a decentralized platform that is aimed to provide a customizable blockchain solution to different organizations. XEM is the native token of the NEM ecosystem and it is one of the top 20 cryptocurrencies that are currently traded in the crypto platforms. NEM was developed using Java programming language and recently, it has been developed using C++ language. Although, the value of this crypto is relatively low then another crypto, the developers of NEM have strong faith that in the upcoming days, this crypto will have the potential to cause a revolutionary breakthrough in the arenas of smart contracts, ownership records, royalties, game data, supply chains, legal records, crowdfunding and can also help to launch ICOs.

Current Stature of NEM
  • NEM is currently valued at a price point of $0.043459 USD (UTC 07:16).
  • It is currently standing at the 19th position among the cryptocurrencies that are currently getting traded.
  • Its market cap is valued at $391,126,806 USD.
  • At present, 8,999,999,999 XEM is getting circulated in the decentralized platform of cryptocurrency trading.
  • Currently, a bullish trend is observed in the NEM charts which indicate that in the future, this cryptocurrency can be profitable to the crypto traders and investors.
Price analysis of NEM on the basis of the NEM Chart

Nem Chart

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From the above chart, it is seen that currently, NEM has a price point of 0.043196 USD or 0.00001095 BTC (UTC 07:24) with a 24h volume of 17,787,872 USD. Its market cap is getting traded at a value of 388,764,887 USD. If the price of NEM approximately 1 month back is considered, then, we can see that on 31st January, it was traded at 0.042023 USD. So, in this duration, the price of NEM has got hiked by 2.79% with 0.040756 USD as its good support. From the price analysis, it is somewhat evident that this crypto is slowly but steadily emerging as a dominant player in this arena.

So, what does its future price prediction indicates?

NEM had been a sleeping giant for long. It had got traded even below 1c from the point of its inception in 2015 till March 2017. During the spring of 2017, many cryptocurrencies including NEM experienced remarkable growth. At the beginning of 2018, NEM even got traded above $2. According to some cryptoanalysts, the value of NEM can crash down by the end of 2019. Some analysts have also predicted that NEM coin can have a price as low as $0.35 at the end of 2019 and it can reach a maximum high of around $0.51 in this period. This was the estimated price projection of 1-year plan but, if a 5-year plan is considered, then the crypto researchers have said that NEM is expected to be on a bullish trend with a trading value of $1.247.

So, from these predictions, it should be clear that NEM emphasizes on a high risk yet a very high rewarding investment. There are lots of positives recently coming to NEM, with which it can have the ability to outperform its rival Ethereum. If its market cap reaches the same as Ethereum in future, then, according to the analysts, each NEM can be worth of $7.55. If this can be the case then NEM investment can be an exceptionally good idea.

Let’s sum up

With its current resistance level of $0.043196 USD, NEM has the capacity to get traded at $1.247 after five years. Its developers are still working hard on it and have a strong faith that this crypto can greatly impact the arena of digital currency in the future. From its future price predictions discussed earlier, it is transparent enough to understand that as it involves high-risk investment, the traders must take decisions very cautiously as they can have terrible losses or can even have good returns from their NEM investments.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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