MAGIC Token Surges 40% in One Day as Technical Breakout Sparks $267M Trading Frenzy

MAGICUSDT experienced a significant price increase of 21.28% over the past 24 hours, with the current price at $0.1419 on Binance, up from a 24-hour open of $0.1170. This sharp rise is primarily attributed to a breakout from a prolonged sideways trading phase, as highlighted by technical analysis and a notable surge in trading activity, including a $3 million volume on Binance within a 10-minute window. The price movement coincided with a broader rally in the MAGIC token, which saw gains exceeding 40% in a single day, driven by technical signals such as a falling wedge breakout and increased community attention. No recent protocol updates or major announcements were reported, indicating that the rally was largely fueled by technical momentum and market sentiment rather than fundamental news. Trading volume remains high, with over $267 million traded in the last 24 hours and a market capitalization of approximately $44.86 million, reflecting strong interest and heightened volatility in the short term.