MEMEAI is another creation created by meme coin enthusiasts based solely on Elon Musk’s tweets that has recently been trending in the crypto market.
As the crypto market shows signs of recovery, meme coins, including MEMEAI, were among the first altcoins to regain all-time highs following signs of a surge.
Therefore, in this blog, I would like to talk about the reasons why MEMEAI is becoming more popular.
MEMEAI price analysis
The MEMEAI team stated that this token is an attempt to increase the influence of meme coins in cryptocurrencies. However, when it was first released, it failed to attract the attention of users.
Interestingly, meme coins started to soar in March. This was more than just a price spike, as the token reached an all-time high, gaining an all-time high of $0.03688 within three days from a mid-range value of $0.0008658.
From then until today, MEMEAI’s price has been Selection subjects Its current value is $0.005722, down 85% from its ATH. However, the token is showing signs of a bullish push as the price has surged 16% in just one day.
A similar surging effect is having on the memecoin market cap, which has increased by 16%, pushing its value to $4,166,079. More importantly, the trading volume recorded a significant jump of 1125% in the past 24 hours, and its value reached $4,057,028.
Why MEMEAI is trending in the crypto market
MEMEAI has shown very good price performance despite its shortcomings and neutral market environment. The token has previously attempted to raise its value multiple times, but failed due to lack of community and market support.
Also read: 3 meme coins that can make you a millionaire
Today’s price hike appears to be due to three main reasons: entry into the crypto market’s greed zone, listing on crypto exchanges, and increased demand for meme coins in the crypto market.
bullish market conditions
The Cryptocurrency Market Fear and Greed Index shows a greed zone with a score of 64, and this happened a few days later.Previously, the cryptocurrency market was in a correction zone before the Bitcoin halving, which caused Selection subjects The prices of all crypto assets will fall.
Also Read: Top Performing Cryptocurrencies Now: Buy, Sell or HODL?
However, the cryptocurrency market has recovered a bit, with the global market capitalization reaching $2.4 trillion and trading volume increasing by 11.2% to $77.588. A similar thing happened with Bitcoin, where the price dropped to $59,000 before recovering to $64,000. This soaring Bitcoin price is also boosting the performance of altcoins.
Listed on MEXC Exchange
According to the MEMEAI official X handle post, the MEXC exchange has listed the MEMEAI token. This is the first centralized exchange listing of the token, demonstrating the increasing demand for the token in the cryptocurrency industry.
At this pointthe token is listed on three exchanges including Bitmart, MEXC Global, and Uniswap v3 (Ethereum), with a trading volume of $3.89 million.
Increase in demand for meme coins
Crypto analysts predict that the upcoming bull market will be the era of meme coins and AI tokens, which will reach unprecedented peaks. Combining meme coins and AI technology, MEMEAI perfectly places itself in this category of the most profitable cryptocurrencies of the future.
It is unclear how the bull market will change the behavior of these meme coins, but the 37% spike in total trading volume of meme coins speaks to the increased demand in the current market.
conclusion
It hasn’t been long since MEMEAI entered the cryptocurrency market, but even in this short period of time, good Meme coin category prices. This recent surge has investors hoping that MEMEAI will rise to $0.001 by the end of the month.
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