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Mfercoin (mfer) is a new meme coin on Base chain that managed to catch the attention of the crypto community.
Earlier today $mfer was trending on CoinMarketCap, ranked the #4 most visited coin.
However, it is also worth noting that its price has been struggling since its launch, still in a bearish downtrend after an initial pump. What lies ahead for the Mfercoin price?
Summary
Mfercoin Price History
Mfercoin (technically spelt in all lower case, ‘mfercoin’ with ticker $mfer) launched in late March, meaning it has been around for only two weeks as of the time of writing, April 11.
The mfer token was based on the well-known NFT project Mfers, which has been around for years. But, it wasn’t until late March that Sartoshi, the founder of the NFT project, decided to issue mfercoin on the Base blockchain as a utility token, a P2P electronic mfer system, and a meme coin.
Initially, mfercoin launched at $0.19, only to surge to $0.318 post-launch, and then spiralled down to the current support at $0.070 due to the bearish market that has dominated the crypto sector lately.
Even so, mfercoin captured the community’s interest and was listed on MEXC, one of the leading crypto exchanges.
Mfercoin Price Prediction
Despite mfmercoin’s popularity with the meme coin crowd, its price has been struggling lately. Every increase that the mfer price saw was followed by further drops, pushing it to the lowest point in its short history.
However, many see this as an opportunity since the project is seemingly at the bottom, meaning it can only move up from here.
With that being the case, traders and investors are turning to technical indicators to predict what might happen with mfer in the short term. However, right now, mfer is ready for a major bull run.
The project’s Bollinger bands are currently highly narrow, and while they have been closer together in the past, this is typically a bearish signal.
TradingView: mfer price on the 30 min timeframe
Meanwhile, the project’s Relative Strength Index (RSI) currently shows a value of 41.06, meaning that it is moving down from the neutral zone to the oversold area. This is also a bearish sign, confirming that more traders sell than buy.
As mentioned, this could become an opportunity to buy mfer at a low price. After all, the meme coin is new and, for the moment, likely still relatively unknown to the masses. Furthermore, like all meme coins, mfer has a strong chance of seeing a strong recovery once the market allows it, given that meme coins are among the first to recover after the bearish sentiment.
Should the mfer price continue to drop, it is unknown how low it can go, given that the project has only been live for two weeks, and there is not much historical data to conclude from.
What is known is that it has strong resistances above it, including the one at $0.10 and $0.20, which will end up posing as strong barriers even when the recovery starts. View the latest mfer price here.
New Base Meme Coin Dogeverse
As promising as mfercoin is, the meme coin sector recently saw another popular new dog-based cryptocurrency emerge.
Known as Dogeverse (DOGEVERSE), the project has captured the meme coin sector’s attention as the ‘world’s first chain-traveling Doge’.
This means is that Dogeverse launched on six chains at once, including its native Ethereum, but also Solana, BNB Chain, Polygon, Avalanche, and Base. The idea was to form an interconnected universe of Doge lovers where community, rewards, and creative fun converge.
Furthermore, the project allows users to stake their $DOGEVERSE tokens and start receiving rewards paid out in additional tokens.
The face of the new meme coin is a dog called Cosmo, born from a collapsing supernova with a unique power to hyperjump between the stars of the crypto universe.
Right now, Dogeverse is on presale, which launched on April 8. In only 3 days, the presale managed to raise over $1.7 million and counting.
On April 11, its price sits at $0.000291 per token, but in less than two days, the DOGEVERSE token will see a scheduled price increase as the presale moves into the next phase.
This means that it is beneficial to buy it as early as possible. Anyone can buy it in exchange for ETH or USDT, but it is also possible to purchase DOGEVERSE with a debit or credit card.
*Cryptonomist did not write the article or test the platform.
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