🔸️ME Analysis🔸️
💠The price of Magic Eden (ME) has risen by 39% over the past 24 hours, surpassing the broader cryptocurrency market gains of 4.36% over 7 days. Here are the key factors:
🔹️Launch of the Giftathon Campaign (Positive) - The new feature of gifting non-fungible tokens (NFTs) encourages interaction.
🔹️Expansion of the Buyback Program (Positive) - Allocating 30% of the new product revenues for buybacks of Magic Eden tokens.
🔹️Technical Breakthrough (Mixed) - The price has surpassed a key resistance level, but the Relative Strength Index (RSI) is approaching the overbought territory.
$ME
MEUSDT
Perp
0.1633
-6.25%
$FRAX
FRAXUSDT
Perp
0.7897
-5.23%
$RARE
RAREUSDT
Perp
0.02151
-5.45%