MemeFi (SUI: $MEMEFI) has recently captured the spotlight with a remarkable surge. The token, trading at $0.003116 today, has posted an 11.30% gain in the last 24 hours. Over the past seven days, it has soared by an astonishing 281.48%. MemeFi now holds a market capitalization of $31.21 million, with a fully diluted valuation matching the same amount. Trading volume in the last 24 hours stands at $100.83 million, showing a 46.90% increase. The circulating supply is 10 billion MEMEFI tokens.
MemeFi is a tap-to-earn game available on Telegram. It combines meme culture, gaming, and crypto incentives. Originally designed for Ethereum’s Linea Layer 2, MemeFi launched on the Sui blockchain in November 2024. It allows players to fight bosses and join clans to earn rewards through interactive gameplay. Using the Telegram bot “@memefi_coin_bot,” players tap to damage bosses, join raids, and earn MEMEFI tokens.
Technical Analysis: Breaking Key Levels
MemeFi’s price action shows a major breakout from its long-term downtrend. The chart highlights that MEMEFI has broken out above significant resistance levels. The breakout occurred above the 50, 100, and 200-day moving averages. This confirms a strong bullish structure. The asset’s price currently sits far above its earlier consolidation range. This shift indicates that new buyers have entered aggressively.
The Relative Strength Index (RSI) on the daily chart is at 76.73, signaling overbought conditions. Yet, high RSI values during strong trends often persist longer. Volume has exploded to 6.82 billion, supporting the breakout’s strength. The next target for MEMEFI is the all-time high of $0.018654, recorded in November 2024.
Technical Analysis: What the Chart Predicts
The daily chart suggests a potential retracement before another upward surge. After breaking out, MEMEFI may correct slightly to retest support at around $0.0028-$0.0030. This retest is healthy and could strengthen the uptrend. If the price holds this level, the next move might aim at $0.0060, and eventually toward $0.0100.
The projected path outlined on the chart shows a stair-step growth pattern. Each rally is followed by brief pullbacks, creating strong support bases. If bulls sustain momentum, reaching the previous all-time high looks possible.
Is Now The Time To Buy?
Given MemeFi’s strong performance, many investors may wonder if it is the right time to enter. With the RSI elevated and the price moving sharply upward, caution is necessary. Often, after such rallies, prices correct before resuming higher trends. The current volume-to-market cap ratio of 324.35% shows high speculative interest.
MemeFi’s upcoming roadmap could influence price movement. Plans for multichain support, NFT expansion, and mobile apps could attract broader audiences. However, market conditions and user adoption rates will be key. Watching for a potential dip and assessing community growth might offer safer entry points.
MemeFi’s tokenomics also support its long-term sustainability. With 26% of tokens dedicated to the in-game economy and governance mechanisms through a DAO, MEMEFI tries to balance gaming rewards with financial structure.
In summary, MemeFi has delivered a massive price movement backed by strong volume. Players and investors are actively participating. Short-term volatility is likely, but the long-term outlook will depend on the execution of their ambitious roadmap.
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