MEW surges 18% to a new ATH after Upbit announces the MEW/KRW trading pair. Rising volumes, and bullish momentum drive the rally.
shook the crypto market as it rallied by double-digits. This meteoric rise came after South Korea’s largest exchange Upbitand Tether , which sparked a brief rally. Yet, it was unable to break its March all-time high at that time.Following the news, MEW pumped 18%. Furthermore, the memecoin hit a new ATH of $0.010.
This rally followed a consistent pattern of higher highs and higher lows since mid-September, a classic indicator of an ongoing uptrend.At the time of writing, the price had slightly corrected to $0.009. Furthermore, the Relative Strength Index was recorded at 70.21. This signaled overbought conditions, though not excessively so.
Thus, while there could still be room for further upside, the possibility of a correction also remained.As MEW continued to ride this bullish wave, it was clear that market participants were increasingly focused on its growing momentum.from Coinglass revealed that trading volume surged by 302.40%, indicating substantial trading activity. Furthermore, Open Interest rose by 16.14%, reflecting strong optimism in the market.
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