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The Mubarak price plunged over 18% in the last 24 hours to trade at $0.1511 as of 5:43 p.m. EST as investors decrease their exposure to the crypto.
Along with the 24-hour drop in the MUBARAK price, there has also been a more than 30% decrease in daily trading volume during the same period.
Mubarak Price Resting On A Key Level
1-hour chart for MUBARAK/USD (Source: GeckoTerminal)
The Mubarak price broke above the resistance level at $0.1505 in the last few hours, according to GeckoTerminal data. However, the meme coin is now resting on this major price point.
Should traders identify the meme coin’s current price as a buy opportunity, the Mubarak price might try to overcome the resistance at $0.1797 and flip the technical barrier into support. Thereafter, the crypto could clear the room needed to continue rising in the short term.
On the other hand, MUBARAK dropping below the $0.1505 mark within the next few hours could end up in a more bearish scenario playing out. In this alternative case, traders will likely exert sell pressure on the meme coin. This could then push the altcoin’s price down to $0.1212 and potentially as low as $0.0888 if bulls don’t step in.
Technicals Suggest The Mubarak Price Might Start Climbing
From a technical standpoint, indicators on the 1-hour chart such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the Mubarak price might start to rise.
That’s after the MACD line crossed above the MACD Signal line in the last few hours to trigger a major bullish technical flag. Now, the gap between the two lines has started to grow. Traders might see this expanding gap with the current alignment of the MACD lines as a sign that the meme coin’s bullish momentum is picking up steam.
Meanwhile, the RSI line has started to slope positively again after a period of declining values. The change in slope could suggest that buyers are re-entering MUBARAK’s charts. What’s more, the current reading above the neutral 50 mark indicates that buyers are slightly stronger than sellers on the hourly chart.
As the Mubarak price tries to recover, investors continue to flock to a new meme coin rival called BTC Bull Token (BTCBULL) to grow their crypto portfolios. According to 99Bitcoins, a popular YouTube crypto channel with over 725K subscribers, BTCBULL has the potential to soar 10X after its launch.
Investors Could Earn Free Bitcoin If They Hold This BTC-Themed Meme Coin
BTC Bull Token is a Bitcoin-themed meme coin that wants to support the largest crypto by market cap on its journey to $1 million per coin and beyond. To encourage investors to buy BTC and its own native BTCBULL token, the project offers holders free Bitcoin via airdrops and has BTCBULL token burns lined up as BTC soars to new heights.
According to the project’s website, investors who hold BTCBULL in Best Wallet, which has recently identified the meme coin as a crypto to watch in its “Upcoming Tokens” section, will receive free Bitcoin when BTC hits certain price milestones for the first time.
BTCBULL holders not only stand to earn free BTC, they will also benefit from the growth of the BTC Bull Token project, which will have a positive effect on its native token’s price. Adding to its speculative potential are the token burns that will happen when Bitcoin hits certain price milestones as well.This will make the meme coin more scarce, and could drive up its value.
The next Bitcoin price milestones that will lead to Bitcoin airdrops are $150K and $200K, while the next BTCBULL token burns will happen when BTC reaches $125K, $175K and $225K for the first time.
While the crypto market has undergone a slight correction in recent weeks, investors might see the retracement as an opportunity to buy the dip. However, with BTC trading at around $83.6K, the leading crypto does not have as much growth potential as BTCBULL, which is currently in presale and selling for just $0.00242 per coin.
Investors Bet Big On BTCBULL’s Future
Investors have already poured more than $3.8 million into BTC Bull Token’s ongoing presale, signaling strong confidence in the project’s future at this early stage.
Interested investors can get in on this ground level by buying BTCBULL via the widget embedded on the project’s site.
To lock in the best presale rate, investors will want to act quickly before the next scheduled price hike in less than 3 days.
After purchase BTCBULL, the tokens can also be staked for a 112% APY.
Visit the BTC Bull Token website.
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