The price of the Meme AI token pumped 156% in the last 24 hours, trading at $0.0059 as of 3:15 a.m. EST. Trading volume skyrocketed over 950% to $6.56 million during this period.
Over the past week, the token’s price has surged by over 500% as meme coin mania gripped the crypto market in the wake of Bitcoin hitting a new all-time high.
Meme AI was trending high on CoinMarketCap and tweeted, “Major things are around the corner!” The tweet included a chart showing the token’s 500% price increase over the past 7 days.
Meme AI Price Analysis
The Meme AI price has seen a huge surge in recent days, especially in the last six hours. This price movement aligns with the broader meme coin rally that continued after Bitcoin’s correction from its new all-time high.
So far, the MEMEAI price managed to reach $0.0070 before correcting to $0.0050. It then surged again but was stopped by resistance at $0.0060. Since then, the token has struggled to move past this level.
With the hype cooling off for now, many traders expect the technical indicators to signal the next likely price movement. For example, Meme AI’s Bollinger Bands show massive widening in the last six hours but early signs of narrowing again. This suggests a potential price drop as the token corrects.
Simultaneously, the Relative Strength Index (RSI) indicates the price could see a deeper decline soon, as the RSI score moved deeply into overbought territory before dropping back toward neutral.
The narrowing Bollinger Bands and falling RSI both point to a bearish trend as traders take profits. However, the price likely won’t fall too far before traders buy the dip around the major support level of $0.0045. Still, the token faces strong resistance at $0.0060 before it can move higher.
A Promising Meme Coin Alternative
While Meme AI attracted meme coin investors, Scotty the AI (SCOTTY) could become the next big hit. Scotty combines the popularity of meme coins with AI capabilities.
This innovative crypto project centers on artificial intelligence. The team also has extensive blockchain and cryptocurrency expertise. Scotty already allows staking with an estimated 57% APY. After the presale, users can immediately claim rewards and withdraw tokens a week later.
Scotty has amassed huge attention, raising almost $3.3 million in its presale so far. SCOTTY tokens currently sell for $0.0078. You can purchase them with ETH, USDT, or a credit/debit card.
