Mubarakah Meme Coin Price Skyrockets 105% In A Single Day Ahead Of Eid Al-Fitr
Highlights
- Mubarakah meme coin price surged 105% today and 263% over the month.
- Experts believe the renowned interest in BSC-based tokens and Eid Al-Fitr hype is fueling this rally.
- Despite the hype, the rally might be short-lived as RSI nears overbought levels and price shows signs of decline.
Mubarakah meme coin is a relatively newly launched token that has gained extreme attention and a price rally among investors. It is even rumored that CZ, the former Binance CEO, may be behind these UAE-themed tokens, especially after he burned $350,000 worth of Mubarakah tokens in March, but there’s no significant clarity. Later, its hype faded, and it crashed amid the broader market correction. Interestingly, today marks a different trajectory as the Mubarakah token skyrocketed 105% ahead of Eid Al-Fitr. Let’s discuss the key details around the factors fueling this surge and whether they will sustain.
Mubarakah Coin Price Rallies Amid $4.9M Trading Volume
After a shallow dip in meme coin demand, the traction is returning to them these days, resulting in a significant surge in their prices. The same is true for the Mubarakah coin price rally. Experts believe that the BSC alpha tokens are gaining momentum due to the Binance airdrop and listing. Even CZ reposted this analysis, highlighting that many BCS-based tokens like Ghibli, Alon, and Mubarakah flourished in gains.
Amid this hype, this trending meme coin is gaining investors’ attention, resulting in a nearly 290% surge in its trading volume to $4.9M. Moreover, its price has surged 105% today and 263% over the month per Coingecko stats. At present, it trades at $0.002968 with a market cap of $2.9M.
However, despite the surge, it remains 71% down from its ATH of $0.0108, set moments after launch.
Will the Mubarakah Meme Coin Price Rally Sustain?
The odds of the Mubarakah meme coin price rally continuing are low, as the surge is solely based on hype, not on any news or events. Such a surge is due to investors’ sentiments, which could fluctuate easily. As a result, the price could come crashing down once the buying pressure decreases.
Besides, the RSI is closer to the overbought region, currently at 79.6 per Tradingview data, and the price has already moved down from today’s peak. So, a cautious approach is needed, but if the buying pressure continues, the Mubarakah meme coin could hit $0.0032 or higher amid Eid Al-Fitr hype.
Frequently Asked Questions (FAQs)
1. What does CZ have to say about the Mubarakah meme coin price rally?
2. Why did the Mubarakah coin price rally so sharply?
3. Will the Mubarak price rally continue?
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