{"id":408561,"date":"2024-07-22T11:30:17","date_gmt":"2024-07-22T06:00:17","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=408561"},"modified":"2024-07-22T13:32:09","modified_gmt":"2024-07-22T08:02:09","slug":"why-solanas-mew-could-be-your-top-memecoin-pick-this-week","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-solanas-mew-could-be-your-top-memecoin-pick-this-week\/","title":{"rendered":"Why Solana&#8217;s MEW could be your top memecoin pick this week"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">MEW open interest skyrockets 60%, following a bullish double-bottom price action pattern.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em>MEW has become the top Solana-based meme coin of this week, surging by more than 75%.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The overall cryptocurrency market is turning bullish, and\u00a0the world\u2019s fifth-biggest digital asset <a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana [SOL]<\/a> has gained massive attention from investors and institutions due to an impressive price surge of over 18% in the last seven days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amid this rally, <a href=\"https:\/\/ambcrypto.com\/predictions\/cat-in-a-dogs-world-price-prediction\/\" target=\"_blank\" rel=\"noopener\">Cat in a Dogs World [MEW]<\/a>, a Solana-based meme coin also experienced similar attention from investors resulting in a massive price surge of over 12% in the last 24 hours.<\/span><\/p>\n<h2><b>Potential reason behind MEW price surge<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The reasons behind the MEW price surge could be SOL&#8217;s impressive performance, the anticipations of its spot Exchange Traded Funds (ETFs) in the United States, and Korean investors&#8217; love for this cat coin.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On 21st July, 2024, an investor named Joshua shared insights stating that Upbit a major cryptocurrency exchange has been experiencing a daily trading volume of over $90 million in meme coins like <a href=\"https:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Dogecoin [DOGE]<\/a> and \u00a0<a href=\"https:\/\/ambcrypto.com\/category\/shiba-inu-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Inu [SHIB]<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, Bithumb has listed <a href=\"https:\/\/x.com\/JoshuaDeuk\/status\/1814851942180659219\" target=\"_blank\" rel=\"noopener\">MEW meme coins<\/a> and it is doing as much volume as all top meme coins combined and leading the total volume in the spot market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following this massive interest and trading volume, MEW open interest (OI) skyrocketed by 60% in the last 24 hours, according to the data from an on-chain analytic firm CoinGlass. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, MEW futures open interest on exchanges also reached an all-time high of over $63.62 million in the last 24 hours.<\/span><\/p>\n<figure id=\"attachment_408563\" aria-describedby=\"caption-attachment-408563\" style=\"width: 1782px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI.png\"><img decoding=\"async\" class=\"wp-image-408563 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI.png\" alt=\"MEW open interest\" width=\"1782\" height=\"623\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI.png 1782w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI-300x105.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI-1024x358.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI-768x268.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI-1536x537.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/mew-OI-1200x420.png 1200w\" sizes=\"(max-width: 1782px) 100vw, 1782px\" \/><\/a><figcaption id=\"caption-attachment-408563\" class=\"wp-caption-text\">Source: CoinGlass<\/figcaption><\/figure>\n<h2><b>MEW price prediction and upcoming resistance level<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to expert technical analysis, MEW is looking bullish as it forms a bullish double-bottom price action pattern on a weekly time frame. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this bullish pattern, MEW was currently there at the neckline. Historically, whenever the MEW price reaches the $0.0062 level, it experiences a massive sell-off.\u00a0<\/span><\/p>\n<figure id=\"attachment_408562\" aria-describedby=\"caption-attachment-408562\" style=\"width: 1824px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34.png\"><img decoding=\"async\" class=\"wp-image-408562 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34.png\" alt=\"MEW bullish chart\" width=\"1824\" height=\"798\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34.png 1824w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34-300x131.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34-1024x448.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34-768x336.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34-1536x672.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MEWUSDT_2024-07-21_17-13-34-1200x525.png 1200w\" sizes=\"(max-width: 1824px) 100vw, 1824px\" \/><\/a><figcaption id=\"caption-attachment-408562\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, this time investors&#8217; interest is at a peak. If the MEW daily or weekly candle gives a strong closing above the $0.0065 level, we may see a massive upside momentum. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whereas, if history repeats, there is a high chance that MEW could fall to the $0.0033 level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, MEW was trading near $0.0057 and has experienced a price surge of over 12% in the last 24 hours. On the other hand, if we look at the performance of MEW over a longer period, in the last seven days it experienced a massive price surge of over 75%.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana memecoin MEW hits new heights with an increase in Open Interest as a bullish pattern forms on its price chart.<\/p>\n","protected":false},"author":97,"featured_media":408582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,4,6376,20],"tags":[6427],"class_list":["post-408561","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-social","category-solana-news","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Solana&#039;s MEW could be your top memecoin pick this week - 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