The MMT token is priced at approximately $2.01, marking a 309.12% increase in the last 24 hours.
• The token experienced extreme volatility upon launch, surging over 4,000% to an all-time high of $4.47 before undergoing a 70% price correction.
• Its 24-hour trading volume reached an exceptional $2.4 billion, with a current market capitalization of approximately $408 million.
Core Driving Factors
• Binance further supported the launch by featuring MMT in its HODLer Airdrops program, offering a 2,000,000 MMT prize pool, and integrating it across its Earn, Convert, Margin, and Futures platforms.
• The project, a decentralized exchange on the Sui blockchain, launched with strong fundamentals, including backing from prominent investors and pre-launch metrics of over 2.1 million users and $600 million in Total Value Locked (TVL).
• Currently, 20.4% of the 1 billion total MMT supply is in circulation, with future token unlocks scheduled after a 12-month cliff.
Technical Outlook
• At its peak, the 1-hour Relative Strength Index (RSI) hit 95, signaling extremely overbought conditions. The RSI has since cooled to a more neutral 50.6.
• The all-time high of $4.47 acts as a major resistance level, while a recent 1-hour low was recorded around $1.11.
• High volatility is confirmed by wide 1-hour Bollinger Bands (ranging from $0.23 to $3.21) and a high Average True Range (ATR) of 0.58.
