MEW today collected up to 31% after obtaining a list on popular crypto and stock trading platform Robinhood.
According to Crypto.news, CAT rose in A Dogs World (Mew) on 23 May to a highest point in four months of $ 0.0047, which resulted in market capitalization at the time of writing its market capitalization.
Mew’s trading activity accelerated the entire week, with volume climbing of $ 40 million on Wednesday to $ 70 million on Thursday, before he rose more than 370% to $ 315 million on Friday.
There are four potential catalysts who drive the MEW meeting.
First, the largest catalyst is the new one from Mew Robinhood -Listwho went live yesterday. It is now tradable for American users on the platform, which contributes to its visibility and credibility. MEW was mentioned in addition to fellow Solana-based Memecoin Moo Deng (Moedeng), who also saw a win of 25% in the last 24 hours.
Lists on large platforms such as Robinhood often act as a stamp of credibility and attract a wave of new investors.
Second, Mew participated in In the Las Vegas Licensing Expo, the world’s largest license event. Held annually in the Mandalay Bay Convention Center, the Expo brings together global IP leaders and brand developers.
The Expo marks an opportunity for MEW to present itself to a completely new cohort of potential partners and consumers, a movement that may have fueled new optimism among traders.
Third, Mew recently plagued A new partnership with Cuberium, a blockchain-driven Gamefi platform that is known for its tower defense games and meme-token integrations. Although the full details have not yet fallen, the teaser alone seems to have been added to the hype.
Finally, the derivatives market shows signs of strong bullish interest. According to CoinglassOpen interest in Mew-Futures has risen by 121% for the past 24 hours and reached a highest point in five months of $ 72 million. On Binance, the long/short ratio remains well above 1, which indicates that the majority of traders position further upside down.
The wider market is also supportive, with Bitcoin recently achieving a new of all time, which has lifted sentiment in the entire sector.
Seizure
From a technical perspective, Mew seems well positioned for a possible continuation of the current rally.
On the 1-day/USDT price diagram, Mew seems to form a round soil pattern, an arrangement that often indicates in the longer term. The MacD lines point upwards and the super trend -indicator has just turned green; Both are considered bullish indicators.
So, Mew could probably keep climbing in the coming days.
Although the trend remains strong, the RSI levels of 84 May point to an overheated market for a short withdrawal.
However, a high RSI does not always indicate an immediate reversal. During strong uptrends, assets can stay overbough for a long time while they keep climbing.
If buying pressure was convenient, a step back to the level of $ 0.0030 would not be unexpected.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
