The cryptocurrency market has witnessed some remarkable trends, but few have been as disruptive as $MELANIA

Looking at $MELANIA's market trajectory, the numbers paint a grim picture. In the past 24 hours, the coin has dropped by 1.18%

The cryptocurrency market has witnessed some remarkable trends, but few have been as disruptive as $MELANIA. The meme coin extracted a significant amount of liquidity from the market, contributing to widespread sell-offs and downturns.

Together with $TRUMP, $MELANIA’s impact on the bull run was evident, leaving many traders frustrated with its volatile performance. However, there is always an opportunity to capitalize on an asset’s movements, making it crucial to analyze both its historical performance and potential trading setups.

Melania Meme’s (MELANIA) Price Analysis: A Technical Breakdown

Looking at $MELANIA’s market trajectory, the numbers paint a grim picture. In the past 24 hours, the coin has dropped by 1.18%, with only a marginal 1% increase over the past week.

However, zooming out to a month-long perspective, it is down a staggering 46%. The yearly performance is even more concerning, with a 90% decline since launch. Initially debuting at a market cap of $2.2 billion, it has since plummeted to just $366 million.

These statistics indicate heavy manipulation, where a large entity is siphoning a significant portion of retail investors’ funds. However, even in manipulated markets, short-term price movements can present minimal trading opportunities.

A technical analysis reveals a sharp rally to above $0.775 around March 19, followed by a steady downtrend. While repeated failed recovery attempts around $0.700 indicate strong resistance, intermittent rebounds suggest that a breakout remains possible, though riskier.

The projected measured move is around 14%, which, under 10x leverage, could translate to a 140% gain. However, leverage amplifies both risk and reward, making proper risk management at this stage essential.

Key levels to watch include an entry at $0.775, with the next resistance at $0.847. The plan is to enter upon a strong candle close above resistance while securing profits incrementally, as only one in three measured moves typically completes successfully, especially in the current bearish market conditions.

While $MELANIA has suffered significant declines, its established branding and recognition within the market still present minimal trading opportunities. Given its connection to the ongoing U.S. political climate, $MELANIA could see renewed interest if political narratives drive further engagement with the coin.

Best Wallet: A Bullish Bet with Massive Upside Potential

Beyond $MELANIA, another emerging opportunity in the crypto space is Best Wallet (BEST), a project currently in its presale phase.

Best Wallet (BEST) is a utility-focused cryptocurrency designed to compete in the crypto wallet market, taking on industry leaders like MetaMask and Trust Wallet.

What Are Real World Assets (RWA) & Why Do They Matter?

⭐Real World Assets (RWA) are physical or traditional financial assets – like real estate, stocks, and commodities – that are tokenized on the blockchain. This means they are turned into digital tokens that can be bought,… pic.twitter.com/SFXC6RF5u2

— Ben Armstrong (@BenArmstrongPSA) July 10, 2024

Unlike meme coins, Best Wallet provides real utility by offering early access to new crypto projects through its token launchpad. The project has already raised $11.3 million in its presale, highlighting strong investor confidence in its long-term potential.

The ecosystem is built around a fully functional crypto wallet that supports multiple chains and offers benefits such as reduced transaction fees for token holders, high staking rewards, and community governance.

One of its standout advantages is its ability to grant users exclusive access to promising crypto launches, enhancing investment opportunities.

The team has already developed key components like the Best DEX, a fiat offramp, cross-chain swaps, and anti-fraud protection, with future upgrades planned to support over 60 blockchain networks.

Transparency and community engagement remain central to the project’s strategy, with frequent updates shared on social media.

With an ambitious roadmap and continuous development, Best Wallet is positioning itself as a strong contender in the competitive crypto wallet space. Its long-term success will depend on delivering a seamless and secure wallet experience while driving user adoption.

Visit Best Wallet