- A massive rise of 34.52% has been observed in the price during the weekly trading session.
- Minu price surged 79.62% in the last seven days’ session at the time of writing.
- The current is outperforming the global cryptocurrency market.
Minu (MINU) gives an 8% daily return to miners in the form of BNB. It is the first mining dog-themed coin on the Binance Smart Chain, allowing holders to start mining and earn daily rewards.
The dog-themed memecoin is gaining much appreciation from meme communities and investors nowadays. It is showing higher returns in current sessions.
The Memecoin Mania of Minu Crypto!
The MINU crypto price has experienced bearish remarks for three consecutive months since February 2024. The memecoin collectively recorded almost 90% negative profitability during these months. However, investors supported the negative fall in the crypto price in May 2024.
Consequently, the price advanced over 220% during May, resulting in a shift in bullish sentiments in both social and technical terms. The upsurge of 93% in the current month is also the result of the shift in sentiments, which intrigued many investors. Minu price strongly indicates a bullish reversal.
Supply and Valuation of the Minu token
The maximum supply of the MINU token is capped at 100 Trillion, and the total diluted valuation is estimated at around $81.99 Million. The project has over 6.91 Trillion tokens, of which 5.94 trillion are currently in circulation. It has a current market cap of $4.91 Million, which increased over 60% during the intraday session.
Technical Analysis of the Minu (MINU/USDT)
The current price is moving above the key exponential moving average (EMA), reflecting a short-term bullish outlook. Minu price has rebounded the 50-day EMA from below, indicating a strong uptrend.
MINU price has shown a bullish rally starting from the $0.00000010 demand zone. This resulted in the breakout of a trendline forming below. The price also gave a breakout of the $0.00000037 resistance level, shifting the sentiments to bullishness.
According to the price action, the current buying strength indicates a bullish look for the Minu price.
Furthermore, the relative strength index (RSI) is showing strong bullish momentum in the current phase. The RSI is upsloping in the overbought area, reflecting the bullish dominance. The RSI is moving at 75.29 above the SMA line.
Summary
The Minu dog-themed memecoin price has shown a bullish rally since May 1, 2024. The crypto has recorded over 660% positive returns since then. Conversely, the technical indicators summary suggests a strong bullish signal in the current phase.
At press time, the buyers are rallying the MINU price. It reflects a bullish outlook as per the price action analysis.
Technical Levels
The immediate resistance for the MINU price was $0.00000097, while the $0.00000021 level was the next support. A price rise can be expected if the price exceeds the upper resistance. Similarly, a drop below the mentioned support can lead to a price pullback to lower levels.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Read More: Absolute Bullish Domination in Minu Crypto; Price Advanced 70%
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