Meme AI prices have risen 9% in the past 24 hours to trade at $0.001626, with trading volume surging 1,305% to $3.28 million as of 4:30 a.m. ET.
The token has experienced 24% growth over the past week, including a recent listing on MEXC, one of the world’s leading digital asset exchanges.
However, its recent rally began on February 9, when Meme AI announced that well-known rapper and modeling magazine/platform owner DeeZzoW — also a major cryptocurrency enthusiast — would be “injecting the secret sauce.” The idea was to bring new hype to the token, and it seems to have worked well, with the price of MEMEAI surging.
GM, how is #MEMEAIARMY doing today?
Today is an important day
@DeeZzoW will inject the secret sauce!
And pushed multiple times over the next few days.
Creating new hype for upcoming new CEX listings!
Are you ready for what’s to come?
#MEMEAICOIN
#MEMEAI
#MEMECOINS
pic.twitter.com/dV3UPZmdPR
— Meme AI (@Memeaicoin)
February 9, 2024
Although the coin encountered resistance at $0.0017, its price has been fluctuating between this level and the $0.0014 support for several days.
Meme AI Price Prediction
Meme AI price has seen a huge hype over the past few days which has led it to reach the $0.0017 resistance. The coin was rejected by this resistance several times and even dropped to the $0.0014 support before bouncing back up.
Prior to the rally, the coin experienced another rally between February 3-5, successfully reaching similar levels, but fell to $0.0013 in the next four days. This shows that the Meme AI price has been trapped between the strong support of $0.0013 and the main resistance of $0.0017-0.0018 for nearly a month.
However, there are some technical indicators that suggest that MEMEAI may have a chance to continue growing and potentially break out of the situation that is confined by the two levels mentioned above. For example, the chart below of the coin shows extremely wide Bollinger Bands, which is a bullish sign.
The chart also shows the project’s relative strength index (RSI) performance, which shows that it is currently in neutral territory, at 50.38, after falling from the overbought zone. The coin’s price performance is closely correlated with RSI levels, but neither indicator is conclusive on its own.
This suggests that there is uncertainty about the performance of the token, meaning further volatility can be expected. However, judging by the X post shared above, the token’s recent performance has been caused by fundamental factors that may still have a strong influence on market sentiment, meaning that technical indicators cannot accurately predict what will happen next.
There is a possibility that many will enter the market to buy the lows, which could drive the price back up. That being said, a strong push is still needed on the bullish side to help the price break through the $0.0017-0.0018 resistance, but if it happens, the coin will have a chance to recapture higher levels, which has been elusive since mid-January.
Promising Meme Ai Alternatives
One of the hottest alternatives to Meme AI right now is a project called Sponge V2. As the name suggests, this is the second version of the Sponge project, which was originally launched in 2023.
At the time, the project experienced a massive rally (100x), making many holders very happy with their decision to buy the token. However, Sponge V1 was deactivated earlier this month.
The team behind it decided to create a new, bigger, better version and give more people the opportunity to participate in it, which could be another massive increase. More importantly, it transitioned from V1 to V2, enabling users to stake their existing SPONGE tokens and receive more SPONGE V2 as rewards.
So far, over $9 million of SPONGE tokens have been staked and transitioned, demonstrating that holders of the token support the new version just as much as they did the original. In addition, you can also purchase the new SPONGE V2 directly with ETH or USDT.
If you’re interested, visit the SPONGE presale and purchase here.
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