Memecoin

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MEME

meme (Ordinals)

Memecoin (<a href="https://crypto.news/price/memecoin/" data-type="link" data-id="https://crypto.news/price/memecoin/">MEME</a>), a recently launched crypto meme project, rallied by over 28% in less than five hours to a new all-time high of $0.03760 amid a resurgence of investor interest. 
The token’s recent upsurge comes at a time when the broader crypto market is witnessing a correction from the recent <a href="https://crypto.news/bitcoins-new-high-signals-major-market-shift-analysis-and-predictions/">uptrend</a>. Notably, the global crypto market cap dropped 2% since hitting a local high of $1.472 trillion on Nov. 10, losing over $32 billion. 
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 <img decoding="async" loading="lazy" width="1024" height="347" src="https://crypto.news/app/uploads/2023/11/Memecoin-MEME-12.59.23-14-Nov-2023-1024x347.png" alt="Memecoin rallies 28% to new all-time high amid surging interest - 11" class="wp-image-14215458">
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 MEME price on Nov. 14 | Source: <a href="https://app.santiment.net/charts/wbeb1pM6__sCl" target="_blank" rel="noopener">Santiment</a>
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While Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) have faced roadblocks to their rallies, MEME bucks the trend. The asset’s bullish run gained momentum yesterday following a sluggishly upward price movement sandwiched between a resistance point at $0.02367 and a support line at $0.01836. 
Despite the lack of support from the broader market, MEME broke above the $0.02367 resistance yesterday, spiking to a new all-time high of $0.03566 as the day ended. However, the token met resistance at this point, resulting in a drop to $0.02938 earlier today. 
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This correction lacked momentum, as the bulls swiftly invalidated it. Recovery from the asset led to another massive spike, as it skyrocketed from the $0.02938 low to another all-time high of $0.03760, representing a 27.9% increase in less than five hours. 
<h2 class="wp-block-heading" id="meme-sees-growing-interest">MEME sees growing interest&nbsp;</h2> 
The latest upsurge is the second wave of price spikes engineered by the project less than a month after its launch. Interestingly, MEME witnessed a similar rally shortly after inception due to increased demand. However, this rally soon faded, with a noticeable <a href="https://crypto.news/memecoin-declined-by-13-as-launch-heat-fades/">13% crash</a>. 
The project is now recording a comeback, buoyed by a resurgence of investor interest and rising buying pressure. This growing interest is observed in the asset’s 24-hour trade volume, which has skyrocketed by a massive 401% to $1.3 billion. 
Launched as a <a href="https://crypto.news/9gag-teams-memecoin-with-no-roadmap-raises-11m/">project</a> with no clear roadmap and utility, MEME’s rallies are mostly triggered by market speculation. Despite reduced momentum, the asset maintained a 28.4% increase over the past 24 hours, currently trading for $0.03587. Its market cap has surged to $262 million, making it the 159th largest crypto asset. 
 Read more: <a href="https://crypto.news/cboe-digital-to-introduce-margined-btc-eth-futures/"> Cboe Digital to introduce margined BTC, ETH futures </a>

Memecoin rallies 28% to new all-time high amid surging interest

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