Meme Index (MEMEX) Price Pumps 6% After Launching Its Presale

The Fartcoin price pumped over 6% in the last 24 hours to trade at $0.5874 as of 10:18 p.m. EST as traders go long on the meme coin.

The Fartcoin price rose more than 6% in the last 24 hours to trade at $0.5874 as of 10:18 p.m. EST as traders went long on the meme coin after it broke above a key resistance level.

With the recent gain, the FARTCOIN price is now up more than 53% in the seven-day time frame.

The Fartcoin price broke above the resistance level at $0.5669 in the last couple of hours, according to data from GeckoTerminal. Should the meme coin establish a position above this technical barrier within the next 12 hours, it could have the foundation needed to keep rising. FARTCOIN might then try to flip the $0.6426 resistance before soaring to as high as $0.7151.

On the other hand, failure to clear the $0.5669 resistance could lead to a more bearish scenario playing out in the short term. Traders might try to push the Fartcoin price down to the closest support at $0.5039 in this alternative scenario. Continued pressure from sellers could then force the meme coin all the way down to $0.4282.

From a technical perspective, indicators on the four-hour chart suggest the Fartcoin price might continue its ascent in the next few hours. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs.

That’s as the MACD line starts to rise towards the MACD Signal line. Traders might see the current orientation and the narrowing gap between the two lines as an indication of FARTCOIN’s negative trend coming to an end. The MACD line crossing above the MACD Signal line could confirm the start of a new bullish phase.

Buyers appear to be growing stronger as well, as suggested by the rise in RSI values over the last couple of hours. Recently, the RSI also crossed above the neutral 50 mark, which signals that buyers now have the upper hand against sellers. What’s more, the positive slope of the RSI line suggests that bulls are still accumulating strength against their bearish counterparts.

If the bullish technical signs presented by the MACD and RSI indicators on the four-hour chart influence traders’s decision making, the Fartcoin price could end up rising to as high as $0.7151.

As FARTCOIN tries to keep surging, investors are also buying into a new meme coin rival called Meme Index (MEMEX) before its presale ends. This is as 99Bitcoins, a popular YouTube channel with over 725K subscribers, predicts MEMEX could be the next 100X crypto.

Meme coins have been the top trending asset class in the crypto space in recent months. This led to an influx of new tokens from developers, who are always looking to profit on the heightened interest around meme coins.

Now, the market has become saturated with new meme coins, making it nearly impossible for investors to identify the next gem that could lead to life-changing gains. Scammers have also resurfaced, leading to an uptick in the number of meme coin rug-pulls.

Meme Index aims to return meme coin investing to its former glory by introducing a much safer and simpler alternative. Central to the project are four meme coin baskets or indexes: the Meme Titan Index, the Meme Moonshot Index, the Meme Midcap Index, and the Meme Frenzy Index.

Each of the baskets features multiple meme coins that are grouped according to their perceived level of risk. The relatively safer option is Meme Titan, which includes established meme coins like Shiba Inu (SHIB) and Floki Inu (FLOKI). Meanwhile, the highest-risk Meme Frenzy features emerging and highly volatile meme coins for those who are seeking high returns but are also willing to accept high risk.

By simply holding MEMEX tokens, investors gain diversified meme coin exposure. What’s more, MEMEX holders also get to vote on which meme coins get added or removed in each basket.

Meme Index has managed to raise more than $4.2 million through its presale so far, signaling strong investor confidence in the project’s future. With just four days left until the meme coin’s highly-anticipated launch on Thursday, time is running out for investors to get in on this ground level.

Interested investors can easily acquire MEMEX via the widget below using either ETH, USDT, BNB or bank card. Once purchased, the MEMEX tokens can also be locked up in the presale staking pool for a 543% APY.