CandleFocus Magic Eden (ME) Token Volume Nosedives by $4 Billion as NFT Activity Weakens
2024-12-12
Author: Content Editor
The token ME, launched by Magic Eden, has experienced a significant decrease in trading volume following its airdrop. This decline in volume may impact the token's price in the coming days. The trading volume for Magic Eden has dropped from $5.50 billion to $1.58 billion, while the NFT trade volume on the platform has also decreased. If this trend continues, it may affect the demand for the ME token. The altcoin is currently trading within a descending channel, indicating a bearish market trend, and if the volume continues to decline, the price of ME could decrease to $4.93. However, if the support level of $5.13 is defended, the price could potentially rise to $7.19.
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