Aleksei Dolgikh 2025

I'm bullish on $MX befor #BlockchainLife2025 🇦🇪 Dubai let's ask @CoinMarketCap #CMCAI "Why is MX’s price up today?" Let's Sharply Deep Dive...

1. Primary Catalyst: Supply Shock from Token Burn

MEXC executed its Q2 2025 MX Token burn on July 15, destroying 2,398,000 MX (MEXC). This reduces the circulating supply by 2.57% (from 93.4M to 91M MX), creating scarcity pressure. The burn aligns with MX Token 2.0’s deflationary model, where 40% of exchange profits fund quarterly buybacks.

2. Technical Context: Oversold Rebound

MX rebounded from the 78.6% Fibonacci retracement level ($2.15) after hitting oversold conditions:

- RSI-7: Jumped from 32.7 (oversold) to 36.01

- MACD: Bearish crossover narrowing (-0.0073 histogram)

- Key resistance now at $2.32 (50% Fibonacci) and 30-day SMA ($2.31)

Conclusion

MX’s rally appears driven by engineered scarcity and technical factors rather than organic demand, with 24-hour volume down 36% to $6.9M. Watch whether the price holds above the 7-day SMA ($2.2) – a breakdown could signal weak conviction.

What catalyst could sustain MX’s momentum beyond short-term burns?