Why is MemeFi still rising even after Binance delisting?
The post Why is MemeFi still rising even after Binance delisting? appeared on BitcoinEthereumNews.com. MemeFi (MEMEFI) extended its rally for the second day in a row, going vertical with 312% gains for the past week. The token rose despite the recent delisting from the Binance futures market. MemeFi (MEMEFI) performed one of the most dramatic rallies for the past week, gaining up to 312% over the week. The overall consensus is the MEMEFI rally is extremely risky and can break down at any moment. MEMEFI was one of the tokens listed by Transac in December 2024, as previously reported by Cryptopolitan. MEMEFI rallied to a three-month high on a short squeeze, as the Binance delisting is looming on August 11. | Source: CoinGecko. As a paradox, the MEMEFI rally started just as Binance announced it would delist the asset following months of low-level activity and sideways trading. MEMEFI recovered to $0.005, a level not seen since May. Previously, MEMEFI has performed similar rallies, crashing by over 90% within hours or days. The token peaked at $0.012 soon after its launch in November 2024, once again erasing over 90% of its value. The recent rally recalls Alpaca Finance (ALPACA), which rose sharply due to a short squeeze following its delisting from Binance. Since June, ALPACA returned to its baseline lows of $0.02. MemeFi open interest rose to all-time high MEMEFI open interest matched the price rally, rising to an all-time high. Traders opened positions for $36.92M, as activity shifted to OKX and Gate. However, the actual end of the futures contract will arrive on August 11 at 8:30 UTC. Until then, traders are making their last aggressive moves on the Binance futures market. Binance warned it will stop stabilizing the market in the final hour of trading, giving a few more days of peak activity and risky positions. Binance may also change the conditions of…
The post Why is MemeFi still rising even after Binance delisting? appeared on BitcoinEthereumNews.com.
MemeFi (MEMEFI) extended its rally for the second day in a row, going vertical with 312% gains for the past week. The token rose despite the recent delisting from the Binance futures market. MemeFi (MEMEFI) performed one of the most dramatic rallies for the past week, gaining up to 312% over the week. The overall consensus is the MEMEFI rally is extremely risky and can break down at any moment. MEMEFI was one of the tokens listed by Transac in December 2024, as previously reported by Cryptopolitan. MEMEFI rallied to a three-month high on a short squeeze, as the Binance delisting is looming on August 11. | Source: CoinGecko. As a paradox, the MEMEFI rally started just as Binance announced it would delist the asset following months of low-level activity and sideways trading. MEMEFI recovered to $0.005, a level not seen since May. Previously, MEMEFI has performed similar rallies, crashing by over 90% within hours or days. The token peaked at $0.012 soon after its launch in November 2024, once again erasing over 90% of its value. The recent rally recalls Alpaca Finance (ALPACA), which rose sharply due to a short squeeze following its delisting from Binance. Since June, ALPACA returned to its baseline lows of $0.02. MemeFi open interest rose to all-time high MEMEFI open interest matched the price rally, rising to an all-time high. Traders opened positions for $36.92M, as activity shifted to OKX and Gate. However, the actual end of the futures contract will arrive on August 11 at 8:30 UTC. Until then, traders are making their last aggressive moves on the Binance futures market. Binance warned it will stop stabilizing the market in the final hour of trading, giving a few more days of peak activity and risky positions. Binance may also change the conditions of…
What's Your Reaction?
