NEM Price Analysis: Nearly Broke NEM (XME) Is Still Full Of Promises

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The year 2019 began with the news that Singapore based NEM foundation was running low on its native tokens. The foundation’s financial situation had completely deteriorated to the point where they only had a month’s operational funding in reserve.

The good news is this financial and organizational trouble they are facing currently can be fixed. With the goal of transparency and accountability, NEM’s new team is making best efforts to overcome the crisis.

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Be it drastic budget cuts, changes in the structure of the organization and its functionalities, NEM team is making extra efforts to make the organization product and revenue generation based, even in this deep financial complexity.

To overcome the financial drought, the organization has also planned to raise to fund through a proposal to the community. Means, asking NEM community to fill the current funding gap. They have planned to set up a transformation task force to work on short term goals that include weekly and monthly reporting structure development and new scorecard system to assess the employee performance.  In addition to this, there is a reduction in staff and conducting legal and ethical financial audits and reporting.

As the newly appointed president Alexandra Tinsman puts it, “We have completely rebuilt the NEM.io Foundation’s operating structure and mission. We are hitting refresh and starting from the scratch.”

With this fresh start, investors are looking forward to a good thing in NEM store, especially price wise.

XME Price Statistics:

NEM price chart - may 31

Looking at the price chart right now at 10:47:19 UTC on May 31, 2019, the price has made another bounce at 0.09421627 USD this is positive change by 0.0042%. The BTC level is up by 3.74%, reaching to 0.00001143 BTC. Market CAP is 875,992,076 USD with 24h volume of 57,687,489 USD. The circulating supply for the coin is massive 8,999,999,999 XEM. With the promise of more than 9000% ROI, NEM is now ranked at number 19th. Today’s highest value for trading was 0.104420 USD, and the lowest was 0.08472495 at the time of writing.

With the possibility of a new Bull Run, NEM brings a lot of hope in investors.

NEM Price Prediction:

It can be easily seen that the NEM team is trying their best to break the bullish run. The long-term outlook, for now, is neutral to slightly bullish, whereas the mid-term outlook is neutral to slightly bearish.

The long term and mid-term outlook for NEM continue to remain neutral, as prices are enclosed within defined horizontal ranges and not fluctuating dramatically.

Since the current massive crash with this currency is not an effect of the general bearish trend in the crypto market, majority of cryptoanalysts, look at NEM very positively. East Asian countries like Japan wish to use the coin as a financial instrument, and many giants see NEM as the advantage of two popular cryptocurrencies at once, Ethereum and Ripple. With the perfect combination of both, smart contract technology and focus on working with the traditional financial sector, many experts, forecast the promising future for NEM price.

Conclusion:

Generally speaking, any prediction related to the crypto market can be risky. However, according to various forecasts, by the end of the year 2019, the price of NEM will see rise several times depending upon the general trend.

The current rate around the lower boundary is very tempting for investment purpose.  Make your investment decision wisely with taking every possible aspect of the account. Put your eggs in different baskets and reap the benefits.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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