Memecoin Market Cap Surges 23% as Crypto Traders Return in New Year
- Market Recovery: As the new year begins, crypto traders have returned, driving the memecoin market capitalization up over 23% in the past week, rising from $38 billion on December 29 to $47.7 billion, indicating a resurgence in investor risk appetite.
- Surge in Trading Volume: The trading volume for memecoins has also skyrocketed, jumping from $2.17 billion on December 29 to $8.7 billion on Monday, representing a 300% increase, which signifies a notable uptick in market activity.
- Top Coins Performance: Among the leading memecoins, Dogecoin (DOGE) gained over 20% in the last seven days, Shiba Inu (SHIB) rose by 19.9%, and Pepe (PEPE) surged over 65%, reflecting strong investor interest in these assets.
- Improved Market Sentiment: According to the CoinMarketCap Crypto Fear and Greed Index, market sentiment flipped to neutral on Sunday with a score of 40, marking a recovery in investor confidence that may signal a broader rebound in the crypto market.
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Technical Analysis for MEME
Technical Sentiment Analysis for Memecoin (MEME) As of , Memecoin (MEME) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MEME stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MEME is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Memecoin (MEME) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000217 | 0.000409 | 0.000602 | 0.000794 | 0.000987 | 0.00118 | 0.00137 |
| Fibonacci | 0.000409 | 0.000556 | 0.000647 | 0.000794 | 0.000941 | 0.00103 | 0.00118 |
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