The Solana-based meme coin, MEW, recorded a notable price surge following a major announcement from South Korean crypto exchange Upbit.
Upbit Announcement
According to the Upbit announcement, the exchange will list MEW today at 10:00 UTC. MEW will be traded in Bitcoin and Tether markets, and will only support the Solana network for transactions.
Price Surge
MEW witnessed a quick surge following the listing statement from the leading Korean exchange with a daily trading volume of roughly $2.5 billion. The meme coin rose by 26% in the past 24 hours, reaching $0.0054 at the time of writing.
Market and Analysis
MEW is currently the fourth-largest meme coin on Solana with a market cap of $480 million. The asset’s 24-hour trading volume also increased by 230%, reaching $144 million. Launched in March, MEW has already been listed on major centralized crypto exchanges including OKX, Bybit, HTX, and KuCoin. The sudden surge has pushed the meme coin to the overbought zone, with an RSI now at 85, marking a notable rise from yesterday’s 22.
MEW has shown significant gains following its listing on Upbit, highlighting the crucial role major exchanges play in crypto prices. However, speculation and short-term profits remain at high levels.
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