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Memecoin Price Moves! Binance Labs, the investment arm of Binance Exchange, has announced that it has invested in Memeland’s native token Memecoin (MEME). The MEME price has moved up. Here are the details and important levels for $MEME!
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Binance announced that it has invested in Memecoin, the October month Launchpool project of the exchange. After this announcement from Binance, the $MEME price increased by about 30% to reach $0.03142. Then it experienced a retracement of about 20% and is currently trading at $0.02600.
What is Memeland?
Memeland is known as the Web3 venture of the popular meme platform 9GAG, which has a monthly user base of 200 million. Memeland, which has an experienced team behind it, aims to offer ownership to communities by creating community-based products.
The main focus of Memeland is to connect content creators and communities through MEME token and NFTs by leveraging meme culture and to invest in them by building SocialFi and creative ecosystems for this purpose.
Movement in the Memecoin Price!
After the news, $MEME rose to $0.03142 with an increase of about 30% in price, then experienced a retracement of about 20%. It is currently trading at $0.02600.
After the Bitcoin decline on January 3, 2024, $MEME fell to the support level of $0.01752, then managed to get back into the current range structure with a quick reaction. It is possible to say that the price will want to go up as long as it does not lose the lower support level of $0.02360 of the range structure.
Seeing closings below the range structure can push the price back to $0.021 and then to $0.018 levels. As long as the range structure does not disappear, the price may want to target the equilibrium zone of the range area, which is $0.032, and then the upper resistance level of $0.041.