Meme Index (MEMEX) Price Surges Over 24% Ahead of Its ICO

The Mubarak price surged over 24% in the last 24 hours to trade at $0.1512 as of 9:42 p.m. EST as investors rush to buy the crypto crypto.

The price of Mubarak (CRYPTO: MUBARAK) rose sharply on Thursday, and investors may be wondering what’s next for the meme coin.

Here’s a breakdown of what happened and what could happen next.

What Happened: The price of Mubarak surged more than 24% in the last 24 hours to trade at $0.1512 at 9:42 p.m. EST. With the recent move higher, MUBARAK is now the number 1 trending crypto on CoinMarketCap.

The price of the crypto broke out of a consolidation zone between $0.1097 and $0.1384 in the last 24 hours, according to data from GeckoTerminal. Now, the meme coin is attempting to overcome the major resistance level at $0.1718.

If the crypto can close a four-hour candle above this second technical barrier, it could have the foundation needed to continue trending higher.

However, a rejection from the $0.1718 resistance in the coming 12 hours could mark the end of the meme coin’s bullish move. In this case, traders might start to realize their profits from the recent surge in the price of the crypto.

With enough bearish pressure, the price of MUBARAK could fall back into the parallel channel on the chart. In a worst-case scenario, MUBARAK might even drop to the $0.0811 support.

Chart: Benzinga Pro

What’s Next: Bears may be starting to take control of the price of MUBARAK, to judge by some technical indicators on the four-hour chart.

Specifically, the MACD and RSI are showing negative warning signs.

In the last couple of hours, the MACD Line has started to decrease toward the MACD Signal Line. While the current orientation of the two technical indicators, with the MACD Line trading above the MACD Signal Line, is bullish, the narrowing gap between them suggests that the positive cycle of the crypto might be coming to an end.

The MACD crossing below the MACD Signal Line could confirm the start of a new corrective phase.

Meanwhile, RSI readings have also started to decline. Traders usually interpret decreasing RSI values as an indication of diminishing buyer strength. The current reading above the neutral 50 point suggests that buyers still have an upper hand. But, the negative slope of the RSI warns that there might soon be a bearish shift in power.

As MUBARAK tries to keep surging, investors continue to flock to the presale for a new meme coin rival called Meme Index (MEMEX).

That’s as 99Bitcoins, a prominent crypto YouTube channel that boasts over 725K subscribers, says MEMEX has the potential to be the next 100X crypto.

A New Way For Investors To Gain Meme Coins Exposure: Investors are always on the lookout for new and innovative ways to invest in crypto. With the recent hype around meme coins, many investors are interested in gaining exposure to this asset class.

However, as the meme coin market becomes increasingly saturated and rife with scams, it can be difficult for investors to know which tokens to choose and how to manage their investments effectively.

This is where Meme Index, a revolutionary new project that is offering investors a unique way to invest in a basket of meme coins, comes in.

The project is introducing four diversified investment indexes: The Meme Titan Index, The Meme Moonshot Index, The Meme Midcap Index and The Meme Frenzy Index.

Each of these indexes caters to a different risk appetite. For instance, the Meme Titan Index invests in large-cap meme coins, making it a relatively safer option, while the Meme Frenzy Index, which focuses on new and smaller meme coins, offers the potential for higher returns.

Investors can gain exposure to these four indexes by investing in MEMEX, the native token of Meme Index. Those who hold MEMEX will also get to vote on which tokens get added to each of the project’s indexes.

Last Chance To Invest In Meme Index: So far, Meme Index has raised over $4.1 million through its ongoing presale. It is also nearing the end of its token offering, with less than seven days of its ICO remaining.

Those interested can still purchase MEMEX via the buy widget on its website using either ETH, USDT, BNB or bank card for $0.0166883 apiece. Once bought, the MEMEX tokens can also be staked for a 550% APY.

Visit the Meme Index website.See More: Top 4 Cryptocurrencies To Watch Out For In 2024

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