- As technical indicators turn bullish, RAY cryptocurrency jumps 17% in 24 hours and targets $0.240 resistance.
- The presale for Memeinator, which aims to change the meme coin landscape, has raised more than $500 000 in less than 48 hours.
- The cryptocurrency community is enthralled by Memeinator’s success and Raydium’s growth.
The native utility token of Raydium, RAY, has been creating a stir in the cryptocurrency market by seeing a stunning price increase. RAY’s price rose by 17% over the previous day, propelling it to the front of the list of best-performing cryptocurrencies.
CryptoCaster Quick Check:
RAY had risen noticeably from its intraday low of $0.1754 to roughly $0.2019 at the time of writing. Crypto investors are paying close attention to and feeling optimistic about this price increase.
How come Raydium’s (RAY) price is is on the rise?
A number of variables, including growing bullish momentum and optimistic market emotions brought on in part by Ripple Labs’ recent victory over the US SEC, can be blamed for the recent increase in the price of RAY.
The victory of Ripple Labs is regarded as a major stimulant for the cryptocurrency sector, which has recently come under attack from US authorities who have attempted to claim that some cryptocurrencies are securities and not actual currencies.
Price forecast for Raydium
A symmetrical triangular pattern that had been forming, according to analysts, suggested the possibility of a breakout. Additional confidence has been sparked by the clear break over the resistance level of the triangle, which raises the possibility of more price growth for RAY.
Key resistance levels are being actively watched by traders and investors as Raydium’s RAY cryptocurrency exhibits upward momentum. The next major obstacle seems to be at $0.240, which has historically provided significant resistance.
There are things to take into account, though, as with any price change. Widening Keltner Channel bands are one example of a technical indication that suggests the possibility of price swings and breakout possibilities. However, the overbought conditions in the bands’ top range raise the prospect of a brief fall.
Capital influx and volatility
A minor inflow of capital into the RAY market is shown by the Chaikin Money Flow (CMF), which denotes slight purchasing pressure. An increase in the CMF rating may indicate heightened demand and a potential market breakout.
The RAY market appears to be volatile at the moment, according to the Relative fluctuation Index (RVI), creating the possibility of high price fluctuation and trading opportunities. Extreme volatility, though, also increases danger.
Positive price momentum is reflected by the TRIX indicator, which highlights strong demand. However, a falling TRIX rating can be a sign that the price trend for RAY is about to change.
Pre-sale triumph for Memeinator
Memeinator has arisen as a beacon of change in a world awash in meme currency offering the moon and stars. Memeinator’s presale has surpassed the $500,000 threshold in less than 48 hours, demonstrating its relentless dedication to changing the face of meme coins.
This big project came about as a result of irritation with the glut of meme coins that frequently fell short of their promises. Memeinator aimed to resurrect the joy and mystique that previously characterized meme currencies.
Characteristics of Memeinator
Memeinator stands out because of its creative methodology. It introduces an AI-driven game influenced by vintage ’90s action flicks, a growing community, and alluring rewards, such as the opportunity to travel into space with Virgin Galactic.
Over 20,000 people have joined the Memeinator’ resistance’ on Twitter and are actively participating in lively debates within Telegram and Discord forums, indicating the movement has already made tremendous progress.
Reliable Auditing and Use
Memeinator completed a thorough audit by Solid Proof, a reputable German business that specializes in assessing crypto project protocols, smart contracts, and KYC evaluations, to assure credibility and security. Memeinator is now in good company with well-known projects like UNCX, Shopping.io, and ZyberSwap thanks to this audit.
The usefulness of Memeinator goes beyond the success of its presale. One billion tokens are available in its MMTR Tokenomics, with portions set aside for community involvement, marketing pools, and exchange liquidity support. The team will use a deflationary mechanism and implement a burn plan when necessary to keep the token’s price stable.
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