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Nothing (thing) is on a bearish momentum today, having dropped by 3% in the last 24 hours. The coin’s daily volumes stand at $1.45 million, according to DexTools.io.
The downward movement is a correction from the sharp rally that THING reported on September 17, with the seven-day gains reaching nearly 500%.
As THING has outperformed the broader market that continues to post a gloomy outlook, investors might likely start piling up on the token as they anticipate more gains.
Despite the staggering gains posted in the last few days, THING still has much to do before it can reach its all-time high of $0.00000492.
Some meme coins, including THING, have been posting independent rallies from the rest of the cryptocurrency market. The project recently claimed to be the first meme coin to attend a huge and important event after appearing at the Token2049 event.
We are the first #memecoin to attend such a huge and important event for crypto.
While your ‘dev’ is posting memes, our founder is talking about nothing at @token2049
Probably nothing. $thing https://t.co/KqBphCZbSF pic.twitter.com/aTCEFvXpQr
— nothing ◻️ $thing (@nothingsquare_) September 15, 2023
Is THING Headed to the $0.1 Mark?
THING continued to attract the attention of crypto traders looking to scoop gains. While the rally appears to have cooled down, selling activity remains relatively low, indicating holders anticipate another uptrend.
THING’s price action started on September 17, with the price gaining from $0.000000193 to $0.00000196. The uptrend was rejected, and the price started to correct shortly after.
THING dropped to $0.000000533 after just a few hours. This price acted as an entry point for the traders that missed out on the rally, and the price gained to make a false breakout to $0.00000148.
THING appears to have formed resistance at $0.00000134, with take-profit orders possibly being executed at this price. If THING breaks past this price, the price will likely head towards $0.00000148.
Nothing’s Momentum is Still Bullish
THING has a Relative Strength Index of 45, as seen in the chart above. While this RSI points towards a neutral market sentiment, the line is tipping south, showing an increased likelihood of sellers swarming the market and driving the prices further down.
On the other hand, the Moving Average Convergence Divergence (MACD) line is in the positive zone, showing bullish momentum. However, the histogram bars are negative, indicating that bears might be attempting to take control of the price action.
Therefore, for THING to resume its uptrend, it needs increased social activity and buyer hype.
One Week Left Before $WSM is Listed on Tier 1 Exchanges
The Wall Street Memes presale has only a few days left before closing. This presale has already raised over $25 million from early investors, with 1 WSM currently trading at $0.0337.
According to the Wall Street Memes website, only seven days are left before the token is listed on tier 1 exchanges. The listing will likely trigger massive gains for the token.
WSM is built atop a vibrant and engaging community. Community support has always been crucial to the success of meme coin projects.
The launch of the WSM token will sustain this community’s growth while rewarding the loyal members.
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