- The price of MEMCOIN has risen by almost 14% in the last 24 hours.
- Most indicators suggested continued price gains.
As the memecoin battle gains more attention, new cryptocurrencies are released and MANEKI is the latest addition to the pack. The recently launched memecoin has created a buzz in the community due to its massive price rise since launch.
In fact, memecoins have become a hot topic of discussion in the cryptocurrency industry.
MANEKI is in the spotlight
First of all, MANEKI is a newly launched memecoin. Solana (SOL) is a work based on the Japanese beckoning cat.
According to Lookonchain: TwitterThe price of memecoin has surged more than 30,000% since its launch, making it one of the most talked about cryptocurrencies in recent times.
SolanaFloor, a popular X handle that posts blockchain-related updates, posted the following: Twitter MANEKI surpassed $240 million in market capitalization within a few days of its launch, which is commendable.
The popularity of the coin is once again proven by the fact that it exists. turned over dogwifehat (WIF)Solana’s own memecoin is already famous in terms of trading volume over the last 24 hours.
According to CoinMarketCap, MANEKI is up nearly 14% in the last 24 hours alone. At press time, it was trading at $0.02572. However, its market capitalization has decreased slightly to just over $220 million.
The reason for this explosive bull rally can be attributed to multiple listings on large exchanges such as Poloniex and Gate.io. In addition, MEXC Global, another large exchange, also recently presentation MANEKI has been listed on the platform.
Whales are interested in MANEKI
Another driving force behind MANEKI’s tremendous growth may be its interest in whales. Seven wallets, possibly belonging to one person, purchased 3.99 billion MANEKI using 3,388 SOL (equivalent to $525,000) within a minute after the coins appeared online.
The number of coins accumulated in these wallets accounted for more than 44% of the total supply of memecoins.
Also, Lookonchain’s dataAnother whale with a track record of accurately betting on other memecoins spent 10,138 SOL worth $1.52 million, purchasing 76.94 million MANEKI at an average price of $0.0198.
The same whale bet correctly before. Book of MEME (BOME) To purchase BOME, I withdrew 12,721 SOL worth $2.3 million from Binance on March 15th.
Realistic or not, the following is BOME market capitalization in BTC
Since MANEKI was in high demand, AMBCrypto planned to analyze the 2-hour chart to see what to expect. According to our analysis, Chaikin Money Flow (CMF) has recorded a sharp rise, which is a bullish signal.
The relative strength index (RSI) was also well above the neutral line. However, if RSI enters overbought territory, selling pressure on the meme coin may increase. This may result in price adjustments.
Source: TradingView