1000CHEEMS Token Plummets 28.89% in a Week Amid Surging Sell Pressure and Active Short Trades

1000CHEEMSUSDT has experienced heightened volatility over the past 24 hours, driven largely by bearish market sentiment and active short trade setups discussed among traders. The recent price drop is attributed to accelerated downward momentum, loss of key support levels, and significant sell pressure highlighted in market analyses. Expanded merchandise announcements on February 3 did not offset negative sentiment, and the token has continued to trend lower amid overall weakness in meme coins.

The current price of 1000CHEEMSUSDT on Binance is $0.000523, reflecting an 8.08% decrease from the previous 24-hour open of $0.000569. Trading volume on Binance reached approximately 1.25 million USDT, with the token ranking among top losers due to its 5.51% single-day decline and a 28.89% drop over the past week. Open interest on KuCoin Futures was noted at 54.68K USDT, indicating sustained derivatives activity despite the downturn.