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Should You Buy Memecoin (MEME) Sunday?

Sunday, December 03, 2023 09:42 AM | InvestorsObserver Analysts
Should You Buy Memecoin (MEME) Sunday?

InvestorsObserver gives Memecoin a strong short-term technical score of 83 from its analysis. The proprietary scoring system considers the token's trading history over the past month to determine the strength of its short-term technicals. MEME has currently traded better than 83% of tokens based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

Short-Term Technical - 83
InvestorsObserver is giving Memecoin a 83 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Memecoin!

Trading Analysis

Memecoin is $0.012981 (76.11%) above its 30-day low of $0.017056247 while -$0.010712 (-26.29%) below its 30-day high of $0.04074891. In addition, MEME's current price of $0.030037350 is above its 30-day moving average price of $0.026577615, leading to a strong short-term technical score. Overall the recent trading history of Memecoin suggest that investors are bullish on the token at the moment.
MEME has a relatively average market cap for a token with a total market value of $264,253,586.82. The market valuation for Memecoin is relatively average due to the largest 100 cryptos having a market cap above $1 billion and MEME sits underneath that mark but remains above $100 million in market capilization. Memecoin's average volume meanwhile is average with $2,381,881,702.88 worth of the token traded over a typical 24 hour period. The volume for MEME is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. As of the past 24 hours, MEME's volume is below its average with $309,058,984.96 exchanged. Memecoin's subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that use blockchain technology to authenticate and verify ownership. They often take the form of photos, videos, audio, and other representations of real-world items. This category also includes other tokens that are used in the buying, selling or collecting of art or certain other digital goods.

Summary

Memecoin's trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the token in the near future. Click Here to get the full Report on Memecoin (MEME).

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