Join Our Telegram channel to stay up to date on breaking news coverage
The Pain price has 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.
Pain Price Faces Bearish Pressure After Strong Rally
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.
Meme Index Presale Heads For $4 Million – Next Crypto To Explode?
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 🚨: 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
Titan is the lowest-risk basket, investing in top meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). Frenzy is the highest-risk basket, investing in the newest and most speculative projects that have huge upside potential and large risks.
MEMEX has caught the attention of popular crypto YouTuber ClayBro, with over 136k subscribers, who predicts that MEMEX will surge 26X after launch.
The platform’s native token, $MEMEX, is a utility and governance token. Holders participate in on-chain governance, influencing platform upgrades, index compositions, and future developments. Smart contracts ensure secure and transparent transactions and index rebalancing.
Investors can also stake $MEMEX tokens for a huge 604% annual yield.
MEMEX tokens are currently priced at $0.0163585 and can be purchased using ETH, USDT, BNB, or a bank card.
Interested investors should buy before a price hike in less than 18 hours.
Buy MEMEX tokens on the official website.
Related Articles:
- BTC Bull Token Raises $2.3M For First Airdrop Platform Offering Real Bitcoin
- FLOKI Climbs 3% As Investors Flock To This ICO For Diversified Meme Coin Exposure
- WEPE Soars 43% As This Meme Coin Rival ICO Charges Towards $7 Million
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
