The recent move in $ME /USDT looks like a mix of sharp speculation and short-term momentum rather than steady accumulation. The price jumped to 0.613 USDT before pulling back toward 0.568, which suggests traders are locking in quick profits instead of showing long-term conviction. The 26.79% daily gain is impressive, but it’s happening on the back of volatile swings between 0.444 and 0.613, hinting that sentiment is driving this more than fundamentals. Volume patterns show heavy intraday trading—24.71M $ME changing hands against 13.69M USDT—a sign of aggressive buyers and sellers testing each other’s limits.
Technically, the chart structure is unstable. The price is hovering around a short-term resistance zone near 0.58–0.61, and without a clean breakout with sustained volume, this could fade into a lower consolidation range around 0.50. If it slips below 0.465, it would likely trigger a deeper correction as stop-losses get hit. On the other hand, a decisive close above 0.62 could spark another quick leg up, but that would need fresh inflows, not recycled liquidity.
In short, ME’s chart looks like a battlefield between retail hype and cautious profit-takers. There’s energy here, but it’s unstable. Anyone trading it right now isn’t investing—they’re gambling on volatility.
