MEW Explodes 31% After Scoring Robinhood Listing!

Hold onto your hats, crypto fans! MEW, the cat-themed memecoin, skyrocketed as much as 31% today after landing a prime spot on the mega-popular trading platform Robinhood. This listing sent MEW soaring to a four-month peak of $0.0047 on May 23 Asian time, pushing its market cap over the $400 million mark!

Trading volume for MEW has been absolutely wild this week, jumping from $40 million on Wednesday to $70 million on Thursday. But get this - by Friday, it exploded over 370% to a mind-blowing $315 million!

So, what's fueling this insane rally? Let me break down the four key catalysts:

First up, the biggest game-changer is that hot new Robinhood listing that went live just yesterday. Now, U.S. users can trade MEW like never before, boosting its visibility and street cred. MEW joined forces with fellow Solana-based memecoin Moo Deng (MOODENG) on the platform, and both coins are seeing major gains - MOODENG up 25% in the last 24 hours!

Getting listed on a major platform like Robinhood is like getting a golden stamp of approval, drawing in a flood of new investors.

Second, MEW strutted its stuff at the Las Vegas Licensing Expo, the world's biggest licensing trade show. Held at the iconic Mandalay Bay Convention Center, this expo brings together top IP players and brand gurus from around the globe.

This was MEW's chance to showcase its feline charm to a whole new crowd of potential partners and consumers, sparking a fresh wave of excitement among traders.

Third, MEW dropped a teaser about a sizzling new partnership with Cuberium, a blockchain-powered GameFi platform known for its tower defense games and meme-token mashups. While the full deets are still under wraps, the teaser alone has traders buzzing with anticipation!

Lastly, the derivatives market is flashing some serious bullish signals. Open interest in MEW futures surged a whopping 121% in the last 24 hours, hitting a five-month high of $72 million. Over on Binance, the long/short ratio is still well above 1, meaning most traders are betting on MEW to keep climbing.

And let's not forget, the overall market is riding high, with Bitcoin recently hitting a new all-time high and boosting sentiment across the board.

Signs of Continuation

From a technical standpoint, MEW looks primed for more gains.

On the 1-day/USDT chart, MEW seems to be shaping up into a round bottom pattern, a setup that often leads to longer-term gains. The MACD lines are pointing north, and the Supertrend indicator just flipped green - both bullish signals!

So, buckle up, because MEW could be in for more wild rides over the next few days!

While the trend is still strong, RSI levels are creeping up to 84, hinting that the market might be a bit overheated and due for a quick breather.

But don't panic - a high RSI doesn't always mean an instant reversal. During strong uptrends, assets can stay overbought for a while and keep on climbing.

If the buying pressure eases up, a dip back to the $0.0030 level wouldn't be surprising.

Disclosure: This article is for educational purposes only and does not constitute investment advice.