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The Koma Inu price surged over 11% in the last 24 hours to trade at $0.05648 as of 10:39 p.m. EST as investors rush to buy the meme coin.
With this recent pump, the KOMA price is now more than 47% in the green on the weekly time frame as well.
Koma Inu Price Trying To Flip Resistance
4-hour chart for KOMA/USD (Source: GeckoTerminal)
The Koma Inu price is attempting to overcome the resistance level at $0.05662, according to data from GeckoTerminal. Should the meme coin manage to close a 4-hour candle above this technical barrier within the next 12 hours, it could have the foundation needed to rise to the subsequent resistance at $0.06203.
On the other hand, a rejection by the $0.05662 mark could lead to a more bearish scenario playing out, which might result in a test of the closest support at $0.05031. A drop below this price point could then lead to a plunge to as low as $0.04339 in the short term.
Technicals Suggest The Koma Inu Price Might Pullback Soon
Technical indicators on KOMA’s 4-hour chart warn the meme coin might undergo a correction soon. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the 4-hour chart are showing early bearish signs that the Koma Inu price could drop soon.
RSI readings have started to level off in the high 60s. Although the current reading above the neutral 50 mark is often interpreted as an indication that bulls have control over an asset’s price, the neutral slope of the RSI line warns that there may be a bearish shift in power soon.
Meanwhile, the MACD line has started to collapse towards the MACD Signal line in the last couple of hours. Traders might see the narrowing gap between the two technical indicators as a sign that KOMA’s bullish trend is nearing its end. The MACD line crossing below the MACD Signal line could also indicate that the Koma Inu price has entered a new bearish cycle.
As the Koma Inu price stands the risk of a correction, investors might start to buy into a presale meme coin rival such as Meme Index (MEMEX) to protect their portfolios. Popular YouTuber Jacob Bury, with over 54.9k subscribers, believes MEMEX has the potential to be the next 10x opportunity in the crypto market.
Giving Investors Access To Diversified Meme Coin Exposure
Meme Index is a new meme coin project that offers investors the first crypto index focused on meme coins. Central to the project are 4 investment baskets, or indexes. They are the Meme Titan index, Moonshot Index, Midcap Index and Meme Frenzy Index.
Each of the project’s baskets cater to different risk profiles, from the most conservative Meme Titan which focuses on the 10 largest meme coins by market cap, to the highest-risk Meme Frenzy that focuses on highly-volatile and emerging cryptos.
By simply purchasing and holding MEMEX tokens, investors unlock diversified meme coin exposure. Additionally, MEMEX holders get to vote during each governance gathering over which meme coins go into which of Meme Index’s baskets.
With talks of a 2025 meme coin supercycle starting to circulate in the market, Meme Index might be the best meme coin play for investors looking to maximize their meme coin exposure while taking on a level of risk that they are comfortable with.
Investors Bet Big On MEMEX’s Future
Meme Index has raised more than $3.5 million through its ongoing presale so far, signaling strong investor confidence in the project’s future. Besides the bullish predictions from experts like Jacob Bury, and the project’s meme coin index offering, there is also a 640% APY on offer to presale buyers that might be attracting investors at this early stage.
To start earning the passive crypto rewards, investors will first need to buy some MEMEX tokens through the easy-to-use widget embedded on the project’s website. Selling for $0.0160993, MEMEX can be bought with either ETH, USDT, BNB or bank card.
After acquiring some tokens, investors then just need to head over to the staking page on the website and lock up their tokens to start earning.
Buy MEMEX tokens here before a price hike in 29 hours to lock in the best deal.
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