Memecoin (ETH: $MEME), a token built on Ethereum, surged 33.70% in the past seven days. It now trades at $0.002183, reflecting a 4.38% daily gain. Its market cap is at $94.36 million, with 24-hour trading volume standing at $200.99 million. This marks a 27.57% decline in volume despite recent price gains.
MEME complies with the ERC-20 token standard. The project makes no claims about utility, financial return, or token function. According to its whitepaper, MEME serves no purpose beyond entertainment and holds no intrinsic value. It is not backed by any ecosystem or roadmap. There is no promise of profit, voting rights, or governance utility. The token has no exchange guarantees and offers no service payment option.
Glorious Meme Inc., the entity behind MEME, highlights that the token does not act as a financial instrument or investment. It is not a form of money or a security. Holders have no rights to dividends, profits, or ownership in any project or platform. The whitepaper stresses that users must not view MEME as an asset with value or future use. It is not refundable, nor is it exchangeable for fiat or other digital assets.
No regulatory approval has been granted for MEME or any material published by the Memeland Group. The team does not guarantee the accuracy of the information shared. It also holds no obligation to update the community on the token’s performance, features, or future plans. The whitepaper only exists for general information and community discussion.
Technical Analysis
The 12-hour MEME/USDT chart shows a sharp move from recent lows near $0.00137 support. This pump coincided with a strong spike in trading volume. The price broke past short-term resistance at $0.00183 and now hovers near $0.00226.
Multiple moving averages are converging at this zone. The 50, 100, and 200-period EMAs have started to compress. This often signals a high-volatility phase.
Two resistance zones are visible. The first lies near $0.00280. The second, more critical one, is around $0.00340. Price must flip these levels to maintain bullish momentum. Failure to break these resistances could push the price back toward $0.00137.
Volume is the highest since the March downtrend began. This may indicate a potential trend reversal. Still, the move must be confirmed by sustained buying pressure above $0.00280.
Key Scenarios Based on Chart Pattern
The chart outlines two key possibilities. A bullish breakout above $0.00280, followed by retests, could lead to a rally toward $0.00340.A bearish rejection could push the price below support, revisiting $0.00137 lows.
Price action suggests MEME is at a decision point. A consolidation above $0.00220 may offer a foundation for higher targets. But any drop below $0.00183 might end the current rally. Short-term traders are watching these zones closely. A confirmed breakout or breakdown may define the next major move.
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