The following stage of the crypto bull run is constant to go away market members on edge, as Bitcoin and Ethereum bulls struggle to push their favourite main cryptocurrencies again towards their latest highs.
Bitcoin noticed a complete acquire of simply over 5% final week (and has now damaged $100,000 once more), whereas Ethereum pushed upwards by 8.4%.
Within the meantime, a mini alt season has damaged out as a variety of notable cryptos skilled small recoveries and pumps – with SPX6900 ($SPX) persevering with to steer. $SPX has pumped 20% over the previous day and is now up 81% from this time final week.
In the meantime, the “meme coin index” narrative can be driving development of Meme Index ($MEMEX), which has now raised $2m by means of its ongoing ICO.
SPX6900 Continues to Shine within the Highlight
With one other 17% acquire pumping its worth past $1.50 during the last 24 hours, SPX6900 would possibly lastly be able to take a breather – or so its every day chart would counsel. That is the form of chart that each crypto investor desires about, showcasing an enormous parabolic run that unfolded in nearly textbook trend:
Over this weekend, SPX6900 slowed down for the primary time because it printed a “spinning high” candle on Saturday, signaling indecision and a battle between bulls and bears. The bulls proved victorious on Sunday, reaching a contemporary 14% revenue on the day – and this Monday we’re seeing the pump proceed as soon as once more.
If we zoom into the hourly chart, nonetheless, we are able to see a extra detailed image:
Since breaking by means of the $1 stage, SPX6900 has fashioned a collection of upper lows, then damaged out and in addition fashioned a bullish ascending triangle. The asset’s buying and selling quantity has pulled again, whereas its RSI (Relative Power Index) is hovering barely under the overbought zone with a rating of roughly 67.
Put collectively, these are all cumulative indicators of extra potential bullish motion nonetheless to come back – so we might simply see SPX6900 explode but once more, passing $1.60. From there, it would nicely flip that resistance stage into assist, leaving the bulls in management and one other inexperienced every day candle on the playing cards. Contemplating all the pieces we’ve seen up to now, $3 (nearly a 2x from SPX’s present worth) is shaping as much as be a good goal for bullish believers.
hitting $1.5B mcap w/o Coinbase, Binance, Robinhood is a press release
SPX6900 will attain multi billions earlier than your fav memecoin, strongest group within the recreation.
— Malik (@tiny_malik) January 6, 2025
On the bearish facet, a worth dip from right here would even be affordable as a way to burn off a few of that overbought RSI rating. A pullback under $1.50 would open up lower cost targets like $1.40, $1.35, $1.25, $1.14, or the important thing psychological assist line at $1 – though it’s value noting the sheer variety of potential assist ranges that SPX6900 established throughout its large dash upwards.
Whether or not $1.60 proves to be the present restrict for SPX6900 bulls or not, this asset has nonetheless carried out amazingly nicely, with the worst-case state of affairs at present being a possibility to purchase the dip.
With a lot SPX6900 hype spreading throughout social media, our subsequent token is shaping as much as be that now-legendary venture’s successor…
Meme Index ICO Raises $2M – the Subsequent SPX6900?
Excited by the prospect of the following large “meme coin index” token, SPX6900 fans and crypto consultants on the whole have been closely supporting Meme Index ($MEMEX), one of many world’s very first decentralized buying and selling platforms for meme coin tasks of all sizes.
Hitting it large by betting closely on only one meme coin arguably requires a big quantity of luck, not simply efficient evaluation – and diversifying a portfolio by investing in a number of tokens rapidly turns into time-consuming, to not point out probably complicated.
Meme Index helps to handle this concern, as MEMEX holders can simply stake their tokens throughout “baskets” (indexes) that expose traders to the cumulative worth efficiency of a number of meme cash on the similar time.
Which means that if one token’s worth drops considerably, different tokens will help to prop up the worth of that basket – and if the crypto market pumps right into a contemporary bullish section, traders gained’t miss out if a number of particular tokens outperform all the pieces else.
Degens can dive into the “Meme Frenzy Index” (the place probably the most rewarding and dangerous tokens might be discovered), go for the comparatively secure street with the “Meme Titan Index” (the mainstream meme token basket, together with the likes of SHIB, PEPE, and naturally DOGE), or go for a reasonable stage of volatility with blended collections just like the “Moonshot Index” and “Midcap Index”.
Given how strongly SPX6900 has pumped this early in 2025, MEMEX seems set to observe up its phenomenal ICO with its personal rocket-fuelled worth motion when it launches on main crypto exchanges.
Meme Index has now raised $2 million by means of its presale, with analysts anticipating better achievements within the coming weeks, months, and years.
MEMEX tokens are quickly priced at simply $0.0149831, with staking rewards of 1,207% APY awaiting early traders who select to stake their tokens and generate passive revenue. Incomes further tokens will allow these traders to amass extra votes and have a better say in the way forward for Meme Index, as MEMEX can even act because the platform’s governance token.
Go to Meme Index Presale
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The put up SPX6900 Pumps One other 17%, $3 is Subsequent Goal as New Index Meme Coin ICO Raises $2M appeared first on CryptoPotato.