MEME Token Surges Over 28% to All-Time High
If you’re following the crypto market, you may have noticed that Memecoin (MEME) experienced a remarkable rally of over 28% in less than five hours, reaching a new all-time high of $0.03760. This surge comes at a time when the broader crypto market is undergoing a correction, with a 2% drop in the global crypto market cap since hitting a local high of $1.472 trillion on Nov. 10, resulting in a loss of over $32 billion.
MEME Bucks the Trend
While Bitcoin (BTC) and Ethereum (ETH) are facing obstacles, MEME is defying the trend with its bullish run. The token broke above the $0.02367 resistance, reaching a new all-time high of $0.03566 before experiencing a slight drop to $0.02938, followed by another massive spike to $0.03760, representing a 27.9% increase in less than five hours.
MEME sees growing interest
The recent surge marks the second wave of price spikes for MEME since its launch, driven by renewed investor interest and increasing buying pressure. The asset’s 24-hour trade volume has surged by an impressive 401% to $1.3 billion, reflecting the growing interest in the project despite its lack of clear utility or roadmap.
Despite reduced momentum, MEME has sustained a 28.4% increase over the past 24 hours, currently trading for $0.03587 with a market cap of $262 million, positioning it as the 159th largest crypto asset.
Hot Take: MEME’s Unpredictable Rally
Meme token’s unpredictable rally showcases the power of investor interest and market speculation in driving significant price movements within the crypto space. While lacking clear utility or roadmap, MEME continues to attract attention and investment, demonstrating that community enthusiasm can play a pivotal role in shaping the trajectory of certain crypto assets.
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