MOONPIG Memecoin climbs to $120 Million Market cap Post-Poloniex listing
MOONPIG, a charming Solana-based memecoin featuring a pig in a spacesuit, has made waves in the crypto world. this new token, backed by the renowned $1.1 billion Hyperliquid perpetuals investor, James Wynn, has already reached a market cap of over $120 million. It recently climbed to this milestone after securing its first listing on Poloniex, a familiar centralized exchange.
Launched via the solana memecoin platform Pump.fun earlier this month,MOONPIG has swiftly gathered almost 10,000 investors.The token saw a massive price spike, hitting $0.1212 just a few weeks after its lowest point of $0.004102 on May 6. This remarkable surge translates to a 2,855% increase, although it has since slightly pulled back to around $0.1001.
Following its Poloniex debut, MOONPIG experienced a 10% 24-hour gain. Analysts suggest a short-term correction or consolidation might occur, as the Relative Strength Index (RSI) has reached 73, indicating overbought conditions. However, the Moving Average Convergence Divergence (MACD) remains bullish, though its declining histogram bars hint at weakening momentum.
For more in-depth analysis, TradingView is a great resource to explore.
