Mubarak ($MUBARAK) Meme Coin Gains Momentum on Binance Chain Amid Crypto Recovery
The post Mubarak ($MUBARAK) Meme Coin Gains Momentum on Binance Chain Amid Crypto Recovery appeared first on Coinpedia Fintech News
Amid the ongoing mild crypto recovery led by Bitcoin (BTC), the BNB ecosystem has recorded significant growth in on-chain transactions catalyzed by memecoin trading led by the recently launched Mubarak (MUBARAK). The notable support of the MUBARAK memecoin by the BNB community – led by Biannce co-founder Changpeng Zhao (CZ) – has helped maintain bullish sentiment.
Mubarak Fundamentals
The MUBARAK memecoin launched on March 13 following an X post by CZ. Launched on the Four Meme launchpad, Mubarak has also been incorporated as part of the Binance Alpha. As a result of the rising community support, the memecoin received $50k liquidity support from the BNB Chain Pool Support Program, thus growing its overall liquidity to more than $1 million.
With around 14k on-chain holders, Mubarak memecoin has also received significant support from CEXes listings, led by MEXC, Gate.io, and BingX.
Midterm Price Targets
The small-cap memecoin, with a fully diluted valuation of about $111 million and a 24-hour average trading volume of around $54 million, pumped more than 200 percent in the past 24 hours to trade about $0.112 on Monday, March 17, during the early London session.
Since its inception, MUBARAK price has been forming a rising trend, characterized by higher highs and higher lows. However, the rate of bullish growth has gradually declined, thus resulting in a rising wedge pattern in the four-hour time frame. Consequently, Mubarak price could soon enter a market correction phase, with the first major support level around $0.04.
