The incident of pump and dump has come to light once again in the most volatile currency group Memecoins in Crypto World. This time the token Memefi connecting Defi and Memeworld through gaming has fallen prey to this. Recently, the price of Memefi Token suddenly fell by 67%, after which the future of this gaming platform has started to be questioned. Significantly, Memefi soon indicated a big announcement on the social media platform X. After which this token was again in discussion.
Price increased after the announcement of new utility of listing and coin in Binance Year
Memefi Coin’s price, on April 25, started growing after its listing on Binance Year and the announcement of token future utility by Memefi Labs. On April 25, the value of this coin was Rs 0.13, which increased to Rs 0.50 by 8 May. Binance announced, the success of the first season of Memefi Recreation and after the Airdrop Memecoin The market sentiments appeared quite positive about. This was the reason that the price of this token saw a jump of more than 300% within 15 days. But on 8 May, its price suddenly fell to 67%.
What happened after this decline and what next
After this sudden decline recently, Memefi’s team has not released any update. But after this incident, Crypto Exchange Okx has announced to deliver its perpetual futures on May 13. After which more questions are being raised on the future of this project. Suddenly, due to the falling price and the silence of the developers, there are also discussions about its scam in the market. After the recent improvement in weak technical indicator, negative market sentiments and Altcoin, the chances of improving Memefi Coin Worth are less visible. Currently, the community associated with Memefi is still hostile to the announcement made by its developers in June.
Conclusion
The reasons behind the sudden major decline in Memefi Token Worth may not have come out clearly, but the silence of its developers and its delivery exchange on OKX has weakened the market sentiment for this. Also, this incident with Memefi Token has again exposed the Volalettle Nature of MemeCoins. The first Om Token and now in Memefi, this crash is repeatedly highlighting the need for a mechanism to secure investment in Crypto World.
Along with this, if you want to read more news related to Memecoin, then you can study by going to our Memecoin Information section. Where you List on pudgy penguins token upbit alternate New information will be available.
Also read:Ethereum made a big jump, these are two major reasons
