Binance Listing Effect Causes Mubarak Coin Price to Crash 40%

Highlights
- Mubarak coin price crashed 40%, dropping to $0.08652.
- Crypto whales and investors' selling activity resulted in the crash.
- Experts see a potential 5x rally in the future, but the bearish pressure is high for now.
The Binance listing is one of the bullish events in the crypto market, but that’s not what happened with the Mubarak meme coin price. As a newly launched token, it is often in the limelight, especially as the former Binance CEO Changpeng Zhao showed support for this meme-themed cryptocurrency. As a result, its price saw many uptrends, but today, it is different as it is down by 40%. Why? Let’s discuss this.
Mubarak Meme Coin Price Crashes With Binance Listing
Binance recently listed four cryptocurrencies, including Mubarak. Although it was expected, the Mubarak meme coin price crash came unexpectedly. Experts believe this happened as the sellers were prepared to benefit from the potential rally.
Although the token did witness a rally at first, hitting $0.011, it soon crashed amid seller’s activity. At present, it trades at $0.08652 after bearing a 40% loss today and 60% away from the ATH of $0.2158, set ten days ago.
Interestingly, when this token plummeted, the three other listed tokens, i.e., BROCCOLI, TUT, and BANANAS31, had significant uptrends, disappointing investors.
Crypto Whales to Blame For Mubarak Crash
Talking of the Mubarak coin price crash, the 205% surge in the trading volume reveals that the investors’ activity is high. A significant portion of this is from the crypto whales, which are on a selling spree and fueling this crash.
Lookonchain X’s post revealed one such whale who had deposited 6.14M Mubarak earlier in the day. Interestingly, the whale itself made nearly $760k in profits, but the activity resulted in increasing the selling pressure on the token.
Another whale has deposited 10.28M Mubarak on Binance and sold it at a loss. Experts claim such sell-offs are made voluntarily to bring the token down before fueling a price reversal.
Experts Predict Mubarak Meme Coin Price to Surge 5x
According to crypto experts, Changpeng Zhao’s connection to Mubarak will bring price rallies. One such claim is that even though the initial outcome of the Binance listing turned into correction, it is up for a 5x surge due to historical trends and upcoming Eid Mubarak celebrations.
Another pointed out a potential breakout from the symmetrical triangle pattern. He claimed that the bull’s presence would push its price above key resistances before predicting a Mubarak meme coin price rally to $0.17.
However, the ongoing bearish trend is hard to ignore, where the key resistance is at $0.14 and $0.16. More importantly, the RSI, MACD, and key moving average indicate a bearish momentum.
Investors must keep an eye on the performance, as its key support is $0.086. A bounce from this could bring an uptrend. In contrast, a drop can push it toward $0.08.
Frequently Asked Questions (FAQs)
1. How is the Mubarak meme coin performing after the 40% price crash?
2. Will the Mubarak coin price crash further?
3. Did former Binance CEO Changepeng Zhao launch the Mubarak meme coin?
- Coinbase Joins Ripple and Circle In Applying For National Banking License
- USDT Issuer Tether Eyes $200M Raise To Launch Tokenized Gold Treasury Company
- REX-Osprey Files For ADA, HYPE, XLM, SUI ETFs as Crypto ETF Frenzy Heats Up
- ChangeNOW’s Quiet Power Play in Helping Crypto Businesses
- Standard Chartered Sees Bitcoin Soaring to $200,000 by Year-End on ETF Boom
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy