Memecoin

MEME

The post <a href="https://coinpedia.org/price-analysis/memecoin-price-soars-meme-price-to-record-10x-jump/">Memecoin Price Soars! MEME Price To Record 10X Jump?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The memecoins category has displayed a massive price action over the recent time, indicating a massive bullish influence in the crypto industry. Further, top memecoins have added a significant valuation to their respective portfolios. 
Memecoin (MEME), on the other hand, has gained significant attention from the market following its price surge. The MEME price has been added approximately 14% within the past 24 hours, making it one of the top gainers of the day. 
<h2 class="wp-block-heading" id="h-memecoin-price-reclaims-0-05-mark">Memecoin Price Reclaims $0.05 Mark!</h2> 
The memecoin price traded in a closed range between $0.0246 and $0.0300 for a brief period, indicating a disinterest of investors in this altcoin. As the market volatility grew, the bulls regained momentum and recorded a jump of 21.69% in valuation, resulting in it successfully breaking out of the resistance level. 
Following this, the memecoin displayed a neutral trend for the next four days. After this, the bulls jumped approximately 45% before facing rejection at the resistance level of $0.04684. After trading sideways for a while, the bulls regained momentum and recorded a jump of 50.23%. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/JOpQRuuNExZZ1JYEgFzKRNApObWZGiLd5yJ62rdpuostxNNvhQATtLZkXIWJLCswwA9JuBT6yxP21Wlm2uGAI5gYHQsKvyLg6BTgC_zLUCC-uG2ymirCMnvfjMyz45rqdzeznbHzPjQ5DnwY3muBBKE" alt="Memecoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: MEME/USDT
 </figcaption>
</figure> 
After achieving a top of $0.05777, the market lost momentum, resulting in a price plunge. The Memecoin price recorded a loss of 30%. The bulls held the price strong above the support level of $0.0300, resulting in a bounce back in the price. Following this, the price traded in a closed range between $0.0384 and $0.0468 for the next four days. 
Recently, the bulls successfully broke out of the resistance level by recording a jump of over 24% in value. Since then, the price has been displaying a neutral trend in the chart. 
The technical indicator, MACD, shows a rising green histogram, indicating increased buying pressure in the crypto market. Further, the averages display a constant rise, suggesting a bullish price action for the token in the coming time. 
<h2 class="wp-block-heading" id="h-will-meme-price-increase">Will MEME Price Increase?</h2> 
If the market continues to gain momentum, the bulls will test its resistance level of $0.0577. Maintaining the price at that level will set the stage for the Memecoin price to attempt to test its upper resistance level of $0.0650. 
Conversely, if a trend reversal occurs, the price will lose momentum and fall to test its support level of $0.04687. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $0.0384 this week.

Memecoin Price Soars! MEME Price To Record 10X Jump?

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