You may know the popular phrase UWU, but now a Solana meme coin called Unicorn Crypto (UWU Crypto) has launched around it, and it’s multichain!
UwU is supposed to symbolize a cute face. After taking the internet by storm for over a decade, the cute face has now made its blockchain debut—taking crypto by storm.
Within three days of its launch, the token peaked at +1800% profit or nearly $37 million in market cap, and it’s looking like it has seen a short-term bottom as price action bounces in Solana meme coin markets.
Price Analysis Unicorn: Breakout or Fakeout for UWU Crypto?
As Unicorn is listed on both Solana and Base, the 2 charts will look slightly different. We’re using the one on Solana, as it has the highest volume.
Evidently, on the chart, volume has really kept up well despite Unicorn pulling back over 60%. This would definitely be a bullish indicator of high interest.
What also jumps to the eye is the fact that it perfectly retested the initial resistance and all-time high. This means we can use this level as an important and good level to punt some buys at!
The breakout above the trendline, retest down, and bounce are other bullish indicators we can consider when deciding whether to buy Unicorns.
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Website Down – Reason for Retrace?
🐻🐂🦄
Unicorn is more secure, faster, more private, and cuter than iBank, SWIFT, PayPal, and Apple Pay.
🐂Bulls are just looking for a 🦄Unicorn
🦄🦄🦄🦄🦄🦄🦄
🦄𝐼𝓉𝓈 𝒾𝓃 𝓉𝒽ℯ 𝓃𝒶𝓂ℯ🦄
🦄🦄🦄🦄🦄🦄🦄$uWu pic.twitter.com/8az4eFEMiB— Unicorn 🦄 (@unicornandmemes) August 15, 2024
While we tried to reach out to Unicorn on their X account, we did not get a response. However, their homepage has been giving a Gateway timeout for a while.
This may be part of the explanation behind why it retraced so deeply, and it could be nothing but a technical error.
A good assumption to be made would be to logically assume that the price will pump quite a bit when the website comes back online. For now, all we can do is wait and see.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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