In the last 24 hours, Melania Trump’s meme coin, MELANIA, has been leading the market in terms of performance. The value of the token has soared by more than 46%, surpassing even the top 100 cryptocurrencies based on market capitalization.
As interest in the meme coin, MELANIA, grows, it seems set to continue its upward trend in the near future. Here’s the reasoning behind this prediction.
MELANIA Sees Spike in Demand
On January 20th, Melania Trump revealed the debut of the MELANIA meme coin in a social media post. Almost instantly, the market took notice, causing the token’s value to surge past $13 within just a few hours of trading.
Despite experiencing a minor dip in value recently, the token is currently surging by nearly 50% over the past day and dominating as the leading market gainer. Over this timeframe, its trading volume reached an impressive $5.12 billion. Furthermore, it has significantly outperformed TRUMP, which has seen a steep price drop since MELANIA’s introduction.
Currently, the price of MELANIA stands at $10.10, and its hourly chart suggests a growing interest in this meme coin. To elaborate, after a minor decline in value, the Accumulation and Distribution (A/D) Line for MELANIA is trending upwards with a reading of approximately 91.445 million.
The A/D Line is a type of indicator that gauges the inflow or outflow of funds into an asset based on its price changes and trading activity. When this line rises, it suggests robust purchasing interest, meaning the asset might be accumulated, potentially signaling a surge in bullish sentiment.
In addition, the Chaikin Money Flow (CMF) for MELENIA currently stands at 0.04 above its zero line, reinforcing a bullish trend. This indicator monitors inflows and outflows of funds into an asset. A positive CMF value implies that buying actions are more prevalent than selling pressure among investors, suggesting a favorable market sentiment.
MELANIA Price Prediction: New Highs Possible
If the ongoing buildup continues, it’s possible that Melania could reach its previous highest value of $13.84 again. Should the purchasing momentum grow stronger, this level might transform into a solid foundation and pave the way for even greater heights.
However, if selloffs commence, MELANIA’s price could plunge to $8.57.
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2025-01-20 17:00