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MEMEAI, another creation of meme coin lovers solely based on <a href="https://coingape.com/glossary/elon-musk/" rel="noopener noreferrer nofollow">Elon Musk’s</a> tweet, has been trending in the crypto market recently.&nbsp;
As the crypto market has shown signs of recovery, the meme coins, including MEMEAI, are among the first altcoins that took the hint of the surge and gained their peaks back.&nbsp;
So, in this blog, let us discuss the reasons for the increasing popularity of MEMEAI.&nbsp;
<h2 id="span-data-preserver-spaces-true-memeai-price-analysis-span">MEMEAI Price Analysis</h2>
The MEMEAI team stated that this token was an attempt to increase the impact of <a href="https://coingape.com/blog/meme-coins-with-bullish-trend-today/" rel="noopener noreferrer nofollow">meme coins</a> in the cryptocurrency.&nbsp;However, it failed to gain the user’s attention in the initial days of its launch.&nbsp;
Interestingly, in <a href="https://coingape.com/markets/what-historical-trends-hint-for-bitcoin-price-in-march/" rel="noopener noreferrer nofollow">March</a>, the meme coin started to surge. It wasn’t just a simple price surge, as the token peaked to its highest and gained an all-time high value of $0.03688 within three days from the moderate value of $0.0008658.&nbsp;
Between that and today, the MEMEAI price had a&nbsp;major&nbsp;fall, where its current value is at $0.005722, down by 85% from its ATH. However, the token has shown signs of a bullish push as the price has surged 16% in just a day.&nbsp;
A similar surge effect is on the<a href="https://coingape.com/glossary/market-capitalization/" rel="noopener noreferrer nofollow"> market cap</a> of the meme coin, as it’s up by 16%,&nbsp;pushing the value to $4,166,079. More importantly, the trading volume has noted a massive spike of 1125% in the last 24 hours, which places it at the value of $4,057,028.&nbsp;
<h3 id="span-data-preserver-spaces-true-reasons-why-memeai-is-trending-in-crypto-market-span">Reasons Why MEMEAI Is Trending In Crypto Market</h3>
Despite its shortcomings and neutral market conditions, MEMEAI has exhibited quite a price performance. The token had previously attempted to lift the value multiple times but failed due to a lack of community and market support.&nbsp;
Also Read: <a href="https://coingape.com/trending/3-meme-coins-that-can-make-you-millionaire/" rel="noopener noreferrer nofollow">3 Meme Coins That Can Make You Millionaire</a>
Today’s price surge seems to be because of three main reasons, including the entry of the crypto market in the greed zone, its listing on a cryptocurrency exchange, and increasing demand for meme coins in the crypto market.&nbsp;
<h3 id="span-data-preserver-spaces-true-bullish-market-conditions-span">Bullish Market Conditions</h3>
The <a href="https://coingape.com/blog/what-is-crypto-fear-and-greed-index-how-does-it-work/" rel="noopener noreferrer nofollow">fear and greed index</a> of the crypto market indicates the greed zone with a score of 64, which has happened after days. Earlier, the crypto market was in a correction zone before <a href="https://coingape.com/trending/will-bitcoin-halving-reignite-institutional-investors-inflows/" rel="noopener noreferrer nofollow">Bitcoin halving</a>, which caused a major&nbsp;price fall for all the crypto assets.&nbsp;
Also Read: <a href="https://coingape.com/blog/top-performing-cryptocurrencies-today-buy-sell-or-hodl/" rel="noopener noreferrer nofollow">Top Performing Cryptocurrencies Today: Buy, Sell Or HODL?</a>
However, the crypto market has recovered a little, the <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/">global market</a> capitalization has reached $ 2.4 trillion, and the trading volume is at $77.588 after an 11.2% surge.&nbsp;The same happened with Bitcoin, where its price has recovered to $64.8K after a fall to $59K. This surge in Bitcoin’s price is also pushing altcoin performance.&nbsp;
<h3 id="span-data-preserver-spaces-true-mexc-exchange-listing-span">MEXC Exchange Listing</h3>
According to the MEMEAI official X handle post, the <a href="https://coingape.com/ton-blockchains-pow-token-gram-now-available-for-trading-on-mexc-exchange/" rel="noopener noreferrer nofollow">MEXC exchange</a> has listed the MEMEAI token. It is the first <a href="https://coingape.com/glossary/centralized-cryptocurrency-exchanges-cex/" rel="noopener noreferrer nofollow">centralized exchange</a> listing of the token, indicating an increased demand for the token in the crypto industry.&nbsp;
As of now, the token has been listed on three exchanges, including Bitmart, MEXC Global, and Uniswap v3 (Ethereum), locking $3.89 Million in trading volume.&nbsp;
<h3 id="span-data-preserver-spaces-true-increasing-demand-for-meme-coins-span">Increasing Demand for Meme Coins</h3>
Crypto analysts have predicted the upcoming <a href="https://coingape.com/trending/top-5-cryptocurrencies-to-watch-out-in-crypto-bull-run-2024/" rel="noopener noreferrer nofollow">bull run</a> to be the time of meme coins and <a href="https://coingape.com/trending/top-reasons-why-ai-cryptocurrencies-will-dominate-the-market-next/" rel="noopener noreferrer nofollow">AI tokens</a>, where these will dominate to peaks never seen before. Being the mixture of meme coins and AI technologies, MEMEAI sits perfectly in this category of most profiting cryptocurrencies in the future.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/MEMEAI?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MEMEAI</a> may cross $0.03 in the coming days. All <a href="https://twitter.com/hashtag/cryptotraders?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptotraders</a> are keeping an eye on <a href="https://twitter.com/hashtag/memeaicoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#memeaicoin</a>. Currently, <a href="https://twitter.com/search?q=%24MEMEAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$MEMEAI</a> has the highest chance of going up quickly among <a href="https://twitter.com/hashtag/memecoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#memecoins</a>.<a href="https://twitter.com/Memeaicoin?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Memeaicoin</a> <a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoNews</a> <a href="https://twitter.com/hashtag/cryptotrading?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptotrading</a> <a href="https://twitter.com/hashtag/CryptoCommunity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoCommunity</a> <a href="https://twitter.com/hashtag/CryptoMarkets?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoMarkets</a> <a href="https://twitter.com/hashtag/Memecoin2024?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Memecoin2024</a> <a href="https://twitter.com/hashtag/memecoinseason?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#memecoinseason</a> <a href="https://t.co/z4u8E9bwDG" rel="noopener noreferrer nofollow">pic.twitter.com/z4u8E9bwDG</a>
 — Rakesh Verma (@imRakeshVerma) <a href="https://twitter.com/imRakeshVerma/status/1783139094396055870?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 24, 2024</a>
</blockquote>
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Though it’s uncertain how the bull run will change the dynamics of these meme coins, the surge of 37% in the total trading volume of meme coins speaks of increasing demand in the current market.&nbsp;
<h2 id="span-data-preserver-spaces-true-conclusion-span">Conclusion</h2>
It hasn’t been long for MEMEAI to enter the crypto market, but even in this small span, it has gained a&nbsp;good&nbsp;price in the category of meme coins. This recent surge has become the hope of the investors to see MEMEAI surge to $0.001 before the month ends.&nbsp;
Read More <a href="https://coingape.com/trending/bitcoin-halving-highlights-2024-the-halving-block-rewarded-validator-with-2-6m/" rel="noopener noreferrer nofollow">Bitcoin Halving Highlights 2024; The Halving Block Rewarded Validator With $2.6M</a>
The post <a href="https://coingape.com/trending/why-is-memeai-trending-today/" rel="noopener noreferrer nofollow">Why Is MEMEAI Trending Today?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Why Is MEMEAI Trending Today?

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