Melania Trump’s meme coin, MELANIA, has made a strong comeback, noting a 19% price surge in the past 24 hours. This comes after the meme coin plunged to an all-time low of $1.23 during Monday’s trading session.
MELANIA currently leads market gains, outperforming major digital assets as demand strengthens. With rising buying pressure, this uptrend might continue.
MELANIA Sees Resurgence in Trading Activity
The surge in demand for MELANIA is evident in its rising trading volume. At press time, this totals $203 million, climbing by 78% in the past 24 hours.
When a surge in trading volume accompanies an asset’s price rally, it indicates a strong market conviction, as more participants are actively buying the coin.
High trading volumes like this confirm the legitimacy of the price movement. It shows that MELANIA’s rally is driven by actual demand for the meme coin and not fueled by manipulative trades. This signals the likelihood of sustained momentum, increasing the chances of the rally continuing.
Moreover, MELANIA’s open interest has also climbed by 56% in the past 24 hours, highlighting the high demand for the token. Per Coinglass data, this sits at $75.44 million at press time.
Open interest measures the total number of outstanding futures or options contracts that remain unsettled. When it climbs during a price rally, it suggests new money is entering the market, reinforcing the uptrend and indicating strong trader confidence in continued price movement.
MELANIA Price Prediction: Key Indicator Points to More Upside
On the daily chart, MELANIA’s Chaikin Money Flow (CMF), which measures an asset’s money flow, is set to break above the zero line. This setup signals increasing buying pressure and the potential shift toward a sustained bullish trend.
If this trend continues, MELANIA could extend its gains and break above $2.
On the other hand, if the meme coin rally wanes, MELANIA’s price could revisit its all-time low of $1.23.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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Abiodun Oladokun
https://beincrypto.com/melania-meme-coin-top-market-gainer/
2025-02-05 17:00:00
