Viral Grandpa's Memecoin $PAIN Goes Live with $136M Market Cap

The viral meme project $PAIN has officially launched, boasting a $136M market cap and $50M in trading volume.

The Pain price soared 29% in the last 24 hours to trade at $16.57 as of 7 a.m. EST on a 58% pump in trading volume to $125 million.

The surge in the PAIN price follows MEXC’s announcement that the token will be listed in both spot and future markets.

Viral Grandpa's Memecoin $PAIN Goes Live with $136M Market Cap

The viral meme project $PAIN has officially launched, boasting a $136M market cap and $50M in trading volume.

The project previously held a 48-hour presale, raising 185,976 $SOL (~$40M)—one of the largest meme token… pic.twitter.com/jJd6RDvJYc

— Followin (@followin_io) February 20, 2025

Trading went live on February 20, at 01:05 UTC. To celebrate the launch, MEXC is offering an airdrop plus rewards program worth 270,000 USDT, driving increased investor interest and momentum in the market.

The PAIN/USD trading pair is currently experiencing a period of consolidation after a strong bullish surge that saw prices rally from the $9–$10 support zone to a high near $25. However, after reaching this peak, the price faced strong resistance, triggering a pullback and forming a bearish channel.

As of the latest data, PAIN/USD is trading at $17.0338, reflecting a 2.81% increase on the day, with an intraday high of $17.0338 and a low of $16.6151.

The price action suggests buyers attempted to push past the $25 resistance zone but faced significant selling pressure, leading to a downward movement.

The support zone around $9–$10 remains crucial, as this area previously acted as a strong demand zone that fueled the recent rally. If the current bearish channel continues, traders will watch for a potential retest of this level.

PAINUSD Analysis Source: Tradingview

Technical indicators provide further insight into the market sentiment. The 50-period moving average (MA) at $18.25 is acting as dynamic resistance, keeping the price suppressed. Until the price successfully reclaims this level, the short-term trend remains bearish.

Meanwhile, the MACD (12, 26, close, 9) remains negative, with a histogram value of -0.0102, showing that bearish momentum is still present. The MACD line (-0.5142) and signal line (-0.5244) indicate that sellers have the upper hand for now. The Relative Strength Index (RSI) stands at 42.71, suggesting weak momentum but not yet oversold conditions. A drop below 30 could signal an oversold scenario, potentially attracting buyers.

Market analysts are now closely monitoring the bearish channel pattern, which could dictate the next move. If PAIN/USD breaks above $19–$20, it could signal a bullish continuation toward the $25–$27 resistance zone.

A successful breakout above this level could attract renewed buying interest, pushing prices even higher. However, if the price fails to hold above $16 and breaks below the channel, it could trigger a deeper correction, potentially revisiting the $12–$10 support zone.

As the Pain price shows signs of a potential rebound, the Meme Index (MEMEX) presale has surged past $3.7 million in funding.

MEMEX is a decentralized investment platform designed to provide investors with diversified exposure to the meme coin market for the first time. It offers four investment options for token holders: Titan, Moonshot, MidCap, and Frenzy, catering to a range of risk-reward profiles.

ALERT SqlCommand: This is the FIRST meme index on the market $MEMEX Presale has 17 hours left, and already has raised $2.8M 😳 Popular meme coins like $DOGE $PEPE $WIF $SHIB & many more, even great potential coins!!! What a great idea join in on their link @memecoin_index pic.twitter.com/cPsxgNXjs7

— Exoticz (@YhwExoticz) January 23, 2025

MEMEX provides a unique opportunity for investors to gain exposure to a basket of meme coins, curated by ClayBro and his team, with varying risk profiles to suit different investment strategies.

Investors can choose to invest in a broad range of meme coins, from established projects like Dogecoin (DOGE) to promising new tokens, all in one convenient platform.

With MEMEX, investors can save on gas