HEMI is currently trading at around $0.0353 with a market cap of $34.5 million. The token is garnering significant attention, as evidenced by its high trading volume over the last 24 hours, which reached $68.47 million, indicating substantial short-term volatility (volume/MC ratio of approximately 2.0). This follows a 30-day decline of over 53%, driven by profit-taking and broader altcoin market pressures.
Fundamental value and ecosystem growth
The fundamental proposition of HEMI lies in the structure of the 'digital finality', which leverages a Proof of Proof (PoP) mechanism to underpin the programmability of EVM for strong Bitcoin security. The momentum of the ecosystem is strong, as highlighted by the mainnet launch that quickly attracted over $440 million in TVL, major DeFi partnerships, and integration into major exchanges like Binance.
The introduction of the new economic model HIPPO-2 aims to address future supply inflation through a fee-burning mechanism and stimulate long-term commitment through participation in veHEMI.
Technical analysis and key risks
The price is currently hovering near the critical support level at $0.035 (a key Fibonacci level). While the long-term trend remains bearish, technical indicators provide a glimmer of hope: oversold RSI readings and a short-term bullish MACD crossover suggest the possibility of a comfortable rise. Traders are closely watching the support level of $0.035 for a potential bounce. Resistance was noted at the 7-day SMA at $0.0485.
Risk factors: The main concern is potential selling pressure from future openings, with over 84% of the total supply of 10 billion remaining locked. Furthermore, the high concentration of shareholders (large shareholders control >53% of the supply) and prevailing bearish sentiment in the market pose risks to stability.
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