MEW token soars nearly 20% following Binance Alpha listing

Mew rallied up to 20% after erupting his downward trend of several months, after his list on Binance Alpha.

According to Crypto.News, cat in a world of dogs (Mew) reached an intraday summit of $ 0.311 on April 2, its highest level in six weeks and around 40% above its weekly hollows. Its market capitalization was seated at $ 272 million, while its daily negotiation volume doubled in the last day at $ 176 million.

The additional demand between its derivative traders has also jumped. According to Coinglass dataIts open interest has increased by 40% in the last 24 hours and was seated at more than $ 45 million at the time of the press. In addition, the weighted funding rate went from -0.0076% yesterday to 0.0017% today, showing that more traders are starting to look optimistic.

Mew rallied after getting a registration On Binance Alpha, a Platform in the Binance ecosystem This serves as a launch for emerging and experimental tokens.

Although it is not a complete exchange list, Binance Alpha Offers the exposure and liquidity of projects at an early stage, and solid performance can open the way to a potential list on the main exchange of Binance.

The community now providing largely a potential list on the greatest exchange of cryptography in the world, the weighted social feeling surrounding Mew was largely positive, with the wick on the theme of the trendy cat on X from the press time.

Traders believe that Mew has more room to run in the short term. According to For the Livercoin pseudo-anonymous merchant, Mew could continue to come together at $ 0.0033 and more now than he retests above the level of keys from 0.0030.

GEMXBT merchant colleague put The target slightly higher at $ 0.0035.

Mew price analysis

Technical indicators seem to promote upward perspectives.

On the price table at 1 day / USDT, MEW came out of a downward corner diagram formed in the last 4 months. A break above such a model is very optimistic in technical analysis and can lead to long-term sustained gains.

Bull Bear’s power indicator has been increasing since March 21, suggesting that bulls take control and push the bears to the key. In addition to that, the Chaikin Money Flow index is in the green, which shows that there is more pressure of purchase than selling, a good sign for a continuous force.

Therefore, the next probable target for Mew in sight is the level of psychological resistance of $ 0.004, a break above which could push it to its annual summit of $ 0.007.