MEMEAI, one other creation of meme coin lovers solely based mostly on Elon Musk’s tweet, has been trending within the crypto market just lately.
Because the crypto market has proven indicators of restoration, the meme cash, together with MEMEAI, are among the many first altcoins that took the trace of the surge and gained their peaks again.
So, on this weblog, allow us to focus on the explanations for the rising recognition of MEMEAI.
MEMEAI Value Evaluation
The MEMEAI staff acknowledged that this token was an try to extend the impression of meme coins within the cryptocurrency. Nevertheless, it failed to achieve the consumer’s consideration within the preliminary days of its launch.
Curiously, in March, the meme coin began to surge. It wasn’t only a easy worth surge, because the token peaked to its highest and gained an all-time excessive worth of $0.03688 inside three days from the average worth of $0.0008658.
Between that and at present, the MEMEAI worth had a main fall, the place its present worth is at $0.005722, down by 85% from its ATH. Nevertheless, the token has proven indicators of a bullish push as the worth has surged 16% in only a day.
An analogous surge impact is on the market cap of the meme coin, because it’s up by 16%, pushing the worth to $4,166,079. Extra importantly, the buying and selling quantity has famous a large spike of 1125% within the final 24 hours, which locations it on the worth of $4,057,028.
Causes Why MEMEAI Is Trending In Crypto Market
Regardless of its shortcomings and impartial market circumstances, MEMEAI has exhibited fairly a worth efficiency. The token had beforehand tried to elevate the worth a number of instances however failed as a result of a scarcity of group and market assist.
Additionally Learn: 3 Meme Coins That Can Make You Millionaire
In the present day’s worth surge appears to be due to three principal causes, together with the entry of the crypto market within the greed zone, its itemizing on a cryptocurrency change, and rising demand for meme cash within the crypto market.
Bullish Market Situations
The fear and greed index of the crypto market signifies the greed zone with a rating of 64, which has occurred after days. Earlier, the crypto market was in a correction zone earlier than Bitcoin halving, which prompted a main worth fall for all of the crypto belongings.
Additionally Learn: Top Performing Cryptocurrencies Today: Buy, Sell Or HODL?
Nevertheless, the crypto market has recovered a little bit, the global market capitalization has reached $ 2.4 trillion, and the buying and selling quantity is at $77.588 after an 11.2% surge. The identical occurred with Bitcoin, the place its worth has recovered to $64.8K after a fall to $59K. This surge in Bitcoin’s worth can also be pushing altcoin efficiency.
MEXC Alternate Itemizing
Based on the MEMEAI official X deal with submit, the MEXC exchange has listed the MEMEAI token. It’s the first centralized exchange itemizing of the token, indicating an elevated demand for the token within the crypto business.
As of now, the token has been listed on three exchanges, together with Bitmart, MEXC International, and Uniswap v3 (Ethereum), locking $3.89 Million in buying and selling quantity.
Rising Demand for Meme Cash
Crypto analysts have predicted the upcoming bull run to be the time of meme cash and AI tokens, the place these will dominate to peaks by no means seen earlier than. Being the combination of meme cash and AI applied sciences, MEMEAI sits completely on this class of most profiting cryptocurrencies sooner or later.
#MEMEAI could cross $0.03 within the coming days. All #cryptotraders are keeping track of #memeaicoin. At present, $MEMEAI has the best probability of going up shortly amongst #memecoins.@Memeaicoin #CryptoNews #cryptotrading #CryptoCommunity #CryptoMarkets #Memecoin2024 #memecoinseason pic.twitter.com/z4u8E9bwDG
— Rakesh Verma (@imRakeshVerma) April 24, 2024
Although it’s unsure how the bull run will change the dynamics of those meme cash, the surge of 37% within the complete buying and selling quantity of meme cash speaks of accelerating demand within the present market.
Conclusion
It hasn’t been lengthy for MEMEAI to enter the crypto market, however even on this small span, it has gained a good worth within the class of meme cash. This current surge has turn into the hope of the buyers to see MEMEAI surge to $0.001 earlier than the month ends.
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The introduced content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.
Why Is MEMEAI Trending In the present day? coingape.com 2024-04-24 23:12:10
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