Nothing (THING) Sees a Correction After a Sharp Rally
Today, the cryptocurrency Nothing (THING) is experiencing a bearish momentum, with a 3% drop in the last 24 hours. The coin’s daily volumes are currently at $1.45 million, as reported by DexTools.io.
This downward movement is considered a correction after the significant rally that THING had on September 17, where it gained nearly 500% in seven days.
Despite the recent gains, THING still has a long way to go before reaching its all-time high of $0.00000492.
Interestingly, some meme coins like THING have been performing independently from the broader cryptocurrency market. In fact, THING made headlines by being the first meme coin to attend a major event called Token2049.
We are the first #memecoin to attend such a huge and important event for crypto.
While your ‘dev’ is posting memes, our founder is talking about nothing at @token2049
Probably nothing. $thing https://t.co/KqBphCZbSF pic.twitter.com/aTCEFvXpQr
— nothing ◻️ $thing (@nothingsquare_) September 15, 2023
Is THING Headed to the $0.1 Mark?
Despite the recent correction, THING continues to attract crypto traders who are looking to make profits. Selling activity remains low, indicating that holders are anticipating another uptrend.
The price action for THING started on September 17, with the price increasing from $0.000000193 to $0.00000196. However, the uptrend was short-lived, and the price started to correct soon after.
After a few hours, THING dropped to $0.000000533, acting as an entry point for traders who missed out on the initial rally. The price then made a false breakout to $0.00000148.
Currently, THING seems to have formed resistance at $0.00000134, with take-profit orders possibly being executed at this level. If THING breaks past this resistance, it is likely to head towards $0.00000148.
Nothing’s Momentum is Still Bullish
When looking at the chart above, THING has a Relative Strength Index (RSI) of 45. Although the RSI suggests a neutral market sentiment, the downward trend indicates an increased likelihood of sellers dominating the market and driving prices further down.
On the other hand, the Moving Average Convergence Divergence (MACD) line is in the positive zone, indicating a bullish momentum. However, the histogram bars are negative, suggesting that bears might attempt to take control of the price action.
In order for THING to resume its uptrend, it needs more social activity and buyer enthusiasm.
One Week Left Before $WSM is Listed on Tier 1 Exchanges
The presale for WSM has only a few days remaining. This presale has already raised over $25 million from early investors, with 1 WSM currently trading at $0.0337.
According to reports, there are only seven days left before the token is listed on tier 1 exchanges. This listing is expected to trigger significant gains for the token.
WSM has built a strong and engaged community, which has always been crucial to the success of meme coin projects. The launch of the WSM token will further support the growth of this community while rewarding loyal members.
Hot Take: Meme Coin THING Continues to Attract Attention
Meme coins have been making waves in the cryptocurrency market, and THING is no exception. Despite a recent correction, THING remains attractive to traders who anticipate further gains. Its independent rally and appearance at the Token2049 event have contributed to its popularity.
However, THING still has challenges to overcome before reaching its all-time high. The current bearish momentum and potential seller dominance pose risks to its upward trajectory. Increased social activity and buyer hype will be essential for THING’s continued success.
Meanwhile, another meme coin, WSM, is preparing for a listing on tier 1 exchanges. With a successful presale and a supportive community, WSM has the potential for significant gains upon listing.
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