- The meme coin price has increased by nearly 14% in the past 24 hours.
- Most indicators pointed to continued price increases.
As the meme coin battle gains more momentum, new cryptocurrencies are being launched with MANEKI being the newest addition to the pack. The recently launched Meme Coin has seen a significant price increase since its launch, creating a buzz in the community.
In fact, meme coins have become a big topic in the cryptocurrency industry.
MANEKI attracts attention
Firstly, MANEKI is a newly launched meme coin. Solana [SOL] It is based on the Japanese lucky cat.
According to Lookonchain TweetMemecoin's price has soared over 30,000% since its launch, making it one of the most talked about cryptocurrencies in recent days.
SolanaFloor, a popular X handle that posts the latest information related to blockchain, Tweet It is mentioned that MANEKI was able to surpass the market capitalization of $240 million within days of its launch, which is commendable.
The popularity of this coin was once again proven by the following facts: turned over dog hat [WIF]an already well-known meme coin from Solana Native in terms of trading volume over the past 24 hours.
according to coin market cap, MANEKI has risen nearly 14% in the past 24 hours alone. At the time of writing, it was trading at $0.02572. However, its market capitalization decreased slightly to just over $220 million.
The reason behind this explosive bull market can be attributed to multiple listings on major exchanges such as Poloniex and Gate.io. Apart from that, another major exchange, MEXC Global, was also recently established. announced The company announced that it has posted MANEKI on its platform.
Whales are interested in MANEKI
Another possible driver of MANEKI's significant growth could be its interest in whales. Seven wallets, presumably belonging to one person, spent 3,388 SOL (equivalent to $525,000) to purchase 3.99 billion MANEKI within a minute of the coin going online.
The number of coins accumulated by these wallets accounted for over 44% of the total meme coin supply.
Additionally, according to Lookonchain, dataanother whale with a track record of correctly betting on other meme coins, spent 10,138 SOL worth $1.52 million to buy 76.94 million MANEKI at an average price of $0.0198.
The same whale had previously bet on exactly meme book [BOME] Then, on March 15th, he withdrew 12,721 SOL worth $2.3 million from Binance to buy BOME.
Regardless of whether it is realistic or not, this BOME market capitalization in BTC conversion
Due to the high demand for MANEKI, AMBCrypto planned to analyze the 2-hour chart to find out what to expect. According to our analysis, Chaikin Money Flow (CMF) recorded a sharp increase, which was a bullish signal.
The Relative Strength Index (RSI) was also well above the neutral mark. However, if the RSI enters the overbought zone, selling pressure on Memecoin could increase. This may result in price corrections.
Source: TradingView
