Is Sei Going to Zero? SEI Impress Drops 4% as New Meme Coin Prepares to List on Exchanges

Trent Alan

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| 4 min read

Meme coin mascots SpongeBob and Pepe wrestling in Meme Kombat's battle arena.
SEI’s label appears to be like to be struggling as hype builds for mark modern meme coin Meme Kombat’s crypto presale and start. Image by Kerem Goktug Kaya, DALL-E 3.

SEI has recently attracted truly intensive attention after some impressive label actions. Presently ranked #45 by market cap on CoinMarketCap, SEI’s label has shown a 122.12% lengthen within the final 30 days.

Over the final three months, SEI has escalated from an all-time low of $0.095 to a most neatly-liked label of $0.7683, equating to a 669.45% rise in barely 90 days.

Despite its meteoric rise, SEI has skilled a setback recently. On Wednesday, it retested its January 3 all-time excessive of $0.87 nonetheless didn’t ruin by contrivance of, leading to a decline to its most neatly-liked label of $0.7683, marking a 4% decrease on the time of writing. This label fluctuation has raised questions referring to the sustainability of SEI’s growth and the ability for future corrections.

SEI Impress Technical Prognosis: Inspiring Averages, MACD, and RSI

Sei price chart showcasing formation of double top with fibonacci levels.
Supply: TradingView, SEIUSDT

The 20-day Exponential Inspiring Moderate (EMA) for SEI stands at $0.6876, indicating a bullish constructing as it’s neatly above the 50-day EMA at $0.5258 and the 100-day EMA at $0.3874. Traditionally, this alignment in transferring averages is considered as a distinct sign for persisted upward momentum.

The Inspiring Moderate Convergence Divergence (MACD) gives a nuanced describe, nonetheless. Presently, the MACD is at 0.0900, fair a shrimp down from the day earlier than this present day’s 0.0909. This dinky decrease could well counsel a weakening within the bullish momentum, even though it’s no longer earn enough to sign a distinct constructing reversal.

The Relative Strength Index (RSI) gives a extra complex build. This present day’s RSI is 71.93, down from 74.17 the day earlier than this present day. This excessive RSI, hovering above the overbought threshold of 70, means that SEI could well simply enjoy recently reached a non permanent peak, with ability for a retracement as some investors could well enjoy taking earnings.

Chart Patterns and Impress Predictions

The SEI label recently tried to breach its all-time excessive at $0.8779 nonetheless failed, leading to its most neatly-liked value of $0.76.

The double-top formation emerging on SEI’s each day chart is a serious pattern to behold. This formation, if confirmed, could well sign a bearish reversal, in particular if the value falls underneath key give a decide to ranges on the golden Fibonacci (FIB) ranges of $0.6513 and $0.6301. Breaking underneath these ranges could well bustle promoting stress, leading to extra declines.

On the flip side, if SEI breaks above its all-time excessive resistance at $0.8779, this could invalidate the double-top pattern and could well simply distinct the formulation for bullish momentum. In this build, the next FIB targets to behold could well be $1.29 and $1.95.

Toughen ranges are currently identified at $0.74 and $0.68, with the golden FIB ranges providing extra security nets. On the opposite hand, a correction down to $0.552, or even decrease ranges treasure $0.4740 or $0.3774, is no longer off the desk, given essentially the most neatly-liked volatility.

The SEI label, although down 4% for the time being, is gentle up critically over the past 90 days. The technical diagnosis unearths a complex describe. Whereas MACD and RSI indicators counsel a bullish constructing with caution resulting from the cease to-overbought stipulations, the chart patterns spotlight a ability for each upward and downward actions. Traders and merchants must behold the ability double top formation, key FIB ranges, and resistance options to gauge SEI’s next strikes.

Whereas SEI’s pertaining to double top pattern indicators ability hazard ahead, investors appear to already be shifting focal level to the next big thing within the meme coin function—Meme Kombat (MK).

Talk over with Meme Kombat Here

Meme Coin Mania within the Virtual Area

MK brings a various twist to the meme coin arena with its virtual battle platform. The native MK token will permit customers to wager on combat outcomes between meme coin mascots. Victorious gamers can preserve prizes in MK tokens, that will furthermore present staking rewards of up to 155% annually in step with the whitepaper.

What you would are looking ahead to of from the next couple of weeks:

We will be doing about a kontests and are living calls treasure “The Weekly Kombatant” and there will be about a nice programs to get quite bonus income your pocket🤩

— Meme Kombat (@Meme_Kombat) January 17, 2024

The fusion of memes and crypto has fueled predominant hype for the length of MK’s ongoing presale occasion. The crypto presale has already raised over $7 million, promoting 50% of the complete MK offer to eager investors. Purchase alternate options include ETH, USDT, and BNB—catering to customers during Ethereum and Binance Perfect Chain.

With the presale in its supreme stage, the window is closing for investors to become involved sooner than MK’s planned itemizing on Uniswap. Early participants had been in a location to earn tokens for $0.183 on the originate of the crypto presale, with tokens now promoting for $0.279 each, equating to unrealized positive aspects of 52%.

The upcoming Uniswap itemizing will make stronger accessibility and liquidity, per the developers. Historic trends advise modern listings in overall ride excessive volatility as label discovery runs its path. MK presale investors likely hope to capitalize on any ability label spikes upon the DEX start.

The Subsequent 100x Gaming Meme Crypto?

Taking a stumble on ahead, some speculate MK could well attain the upper ranges occupied by heavyweights treasure Dogecoin and Shiba Inu. Though overtaking these established giants appears to be like no longer going within the prompt future, the meme coin market has bred several shock success experiences recently.

Every Pepe (PEPE) and Bonk (BONK) erupted from obscurity in 2023 thanks to the salvage hype, each reaching billion-greenback market caps at their peaks. MK has already raised thousands and thousands earlier than start, leading influencers treasure ClayBro to ask if it could truly well very neatly be the next 100x gaming meme crypto this year.

MK’s recent ability to memes and crypto has undoubtedly captured investor attention for the length of the presale. As the prolonged-working bull market for meme coins continues into 2024, initiatives treasure MK appear primed to capitalize on the frenzied appetite for speculative investments in this niche.

Talk over with Meme Kombat Here

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