PALU, a community-driven meme pet token, has been listed on Binance. The token gained momentum initially after Binance founder Changpeng Zhao (CZ) reposted a fan art featuring the CZ-themed PALU mascot.
These events have led to an increase in trading activity for PALU, bringing it to an all-time high of $0.10 today.
In X, analysts have been actively sharing posts about the explosive rise of PALU. A highlighted post from user Chinapumprocket suggested that the rapid rise of the token is partly due to whale accumulation.
On the daily chart, the meme asset trades above its 20-day exponential moving average (EMA), indicating ongoing demand and positive momentum in the price. As of this writing, this key momentum forms a dynamic support below the price of PALU, at $0.0066.
The 20-day EMA measures the average price of an asset over the last 20 trading days, giving more weight to recent prices.
When a token trades above this threshold, it indicates bullish sentiment, as buyers continuously intervene to sustain upward pressure.
For PALU, maintaining its position above the 20-day EMA confirms that momentum remains in favor of buyers. If this structure holds, PALU could extend its gains.
Additionally, the configuration of the Moving Average Convergence Divergence (MACD) indicator of the meme coin confirms the strengthening of the bullish bias.
Historically, rapid price increases following important listings are usually followed by short-term pullbacks. But if PALU maintains its current trend, it could surpass its immediate resistance at $0.0751 and reach its high again.
However, the risk of profit-taking persists. In this scenario, the price of PALU could lose recent gains and drop to $0.0591.
