Mubarak Price Prediction: MUBARAK Plummets 14% As Investors Shift Focus To This $4.4M Meme Coin Presale That Ends Later Today

The Mubarak price plummeted more than 14% in the last 24 hours to trade at $0.05921 as of 9:43 p.m. EST as investors dump their holdings in the meme coin on the market.

The latest drop in the MUBARAK price has pushed the altcoin’s weekly performance deeper into the red zone. As a result, the meme coin is down over 59% on the 7-day time frame.

Mubarak Price Consolidates

1-hour chart for MUBARAK/USD (Source: GeckoTerminal)

The Mubarak price has been in a consolidation zone between $0.05723 and $0.06456 in the last few hours, GeckoTerminal data shows. This period of sideways trading could be the build up to a big move in either direction.

Should traders identify the current Mubarak price as a buy opportunity, the meme coin will likely attempt to flip the resistance at $0.06456 into support. Thereafter, continued pressure from bulls could push the altcoin’s price all the way up to $0.07564 in the short term.

However, a more bearish scenario might result in the Mubarak price dropping below the immediate $0.05723 support. Falling below this technical safety net could then lead to MUBARAK plunging to the subsequent support at $0.04776.

Technicals Warn The Mubarak Price Might Drop Some More Soon

From a technical point of view, indicators on MUBARAK’s 1-hour chart warn the meme coin’s price might continue to drop in the next few hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs.

That’s after RSI readings dropped from 50 to the low 40s, signaling diminishing buyer strength. Additionally, the current RSI value below the neutral 50 mark suggests bears have the upper hand, while the negative slope of the RSI line could indicate that sellers might continue to push the Mubarak price down in the coming few hours.

MUBARAK had built up some bullish momentum throughout the past trading day, as evident by the MACD line’s positioning above the MACD Signal line. However, the gap between the two technical indicators has started to narrow, which could be an early indication of the meme coin’s positive trend coming to an end. 

While the Mubarak price faces a continued drop, investors rush to buy a new meme coin rival called Meme Index (MEMEX) for gains before its presale ends later today. 99Bitcoins, a popular YouTube channel with over 725K subscribers, says MEMEX has the potential to be the next 100X crypto.

Giving Investors Diversified Meme Coin Exposure

The meme coin market has been flooded with new tokens in recent weeks, as developers tried to capitalize on the soaring investor interest around these light-hearted tokens. 

With so many options to choose from, finding the select few meme coins that will lead to life-changing gains has become a near-impossible task. Scammers have also resurfaced, leading to an uptick in the number of meme coin scams.

Meme Index, with its curated basket of cryptos, aims to make meme coin investing simple, fun and safer again. The project introduces 4 meme coin indexes: Meme Titan, the Meme Moonshot, the Meme Midcap, and the Meme Frenzy. 

Each index features different meme coins that are grouped according to their perceived level of investment risk. Meme Titan is the relatively safer option, and focuses on established meme coins such as Dogecoin (DOGE) or Shiba Inu (SHIB). Meanwhile, the highest risk Meme Frenzy index features emerging, highly-volatile cryptos with massive upside potential.

To buy into any of the project’s indexes and unlock diversified meme coin exposure, investors simply need to get a hold of some MEMEX tokens. What’s more, MEMEX holders have the power to vote on which meme coins should be included in each basket. 

Investors Flock To MEMEX’s Presale That Ends Today

Meme Index’s presale has been a hit with investors, and has raised over $4.4 million so far. With around 11 hours left until the ICO ends, time is running out for investors to get in on this early stage of the project. 

Interested investors can buy MEMEX for $0.0166883 per token via the simple widget embedded on the project’s website using either ETH, USDT, BNB or bank card.

After purchasing some MEMEX, investors can also lock up their tokens in the project’s presale staking pool that currently offers a 530% APY.

Visit the Meme Index website.

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