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Biaoqing Price Tumbles 18% As Traders Race To Buy This Solana Meme Coin Before Its Big Airdrop And Listing

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Biaoqing Price
Biaoqing Price

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The Biaoqing price plunged 18% in the last 24 hours to trade at $0.011 as of 01:09 a.m. EST on trading volume that dropped 11% to $4.2 million

This comes as the meme coin space gained 3% in the last 24 hours to hit a market capitalization of $48 billion. BIAO, known as the “Pepe of China,” outperformed the original PEPE, which is up just 1%.

Biaoqing Price Could Rise, Set For A Bullish Rally Over The Falling Wedge

Biaoqing Price Chart Analysis Source:
BIAOUSD Chart Analysis Source:

After its launch, the Biaoqing price soared to an all-time high (ATH) of $0.0515 on June 19, according to data from GeckoTerminal. However, the bears have gained full control of the price, with the token being down 77% from its ATH.

BIAO price has been trading within the confines of a falling wedge pattern, registering higher lows. The bulls then found support within the $0.0095, which the bulls are using to stage a likely bullish trend reversal that could push BIAO over the falling wedge pattern.

The current retrace has pushed the price of Biaoqing to trade below both the 50-day and 200-day Simple Moving Averages (SMAs), with the SMAs providing the threshold that BIAO price needs to overcome at $0.0141 and $0.0249, respectively.

Moreover, the Relative Strength Index (RSI) is gearing up towards a rebound from the 30-oversold level, currently trading at 43 and climbing up. If the bulls capitalize on the falling wedge pattern to buy more, the RSI could soar over the 50-midline level, an indication of intense buying pressure.

The Moving Average Convergence Divergence (MACD) is also bullish, with the MACD line (blue) crossing above the signal line (orange), an indication of a bullish crossover. A bullish crossover merged with the green bars extending beyond the neutral line on the histogram indicates that BIAO is on a positive momentum.

Biaoqing Price Prediction

The Biaoqing Price analysis on the 1-hour chart shows that BIAO is gearing up for a bullish rally over the falling wedge pattern. BIAO is capitalizing on the movements of the RSI and MACD, as the technical indicators provide investors with enough bullish prospects to rally the price, currently targeting $0.047.

Conversely, the 50-day SMA trades below the 200-day SMA, forming a death cross around $0.031. A death cross could push the bears to take control of the price at this level. In such a scenario, the bulls could retreat to $0.00871, acting as a cushion against downward pressure.

As the Biaoqing price bulls search for more buying signals, investors are rushing to buy the new Solana meme coin Sealana (SEAL) before its launch on decentralized exchanges (DEXs) in about four days.

Sealana ICO Raises Over $6 Million – Last Chance To Buy

Sealana is offering investors a last chance to buy before its airdrop commences and token trading goes live on DEXs on July 2 at 1 p.m. UTC.

The Solana-based meme coin features a chubby seal mascot, a once sleek and agile character who is now messy and obese with an insatiable appetite for junk food.

SEAL started life as a Solana-only coin but has since expanded its reach by going multichain with a BNB Chain version of the token. It can also be purchased on the Ethereum network, widening its appeal across crypto communities.

According to Crypto Boy, a prominent crypto analyst and YouTuber, $SEAL has the potential to surge 100X after launch.

To participate in the presale, visit the official website to buy SEAL tokens here. One $SEAL costs $0.022.

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