$TUT rose from $0.0167 to $0.0564 before retreating to $0.0396 in Asia on Friday. The rally took its weekly gains to an impressive 2,600%, making it one of the best performers among altcoins during this period.
This increase was supported by high trading activity, with on-chain data showing a 600% increase in daily volume, exceeding $189 million. TUTās market cap was $38.5 million. Interest from derivatives investors has increased, with CoinGlass reporting a 400% increase in open interest for TUT futures, reaching $73.59 million at the time of writing.
The maximum amount that can be raised today was supported by the excitement of the episode following TUTās listing on #Binance . In the first round of the exchangeās āVote for the Listingā campaign, Mubarak (MUBARAK) was selected alongside other memecoins such as CZās Dog (BROCCOLI714) and Banana For Scale (BANANAS31).
According to the platformās official announcement, the memecoins, which are exempt from the listing fee, will now be tradeable against USDT and USDC pairs, with withdrawals opening at 21:00 UTC on March 28. They are tied to a seed tag.
Investors are currently closed to what will happen next. Some speculate that a sell-off may be in the works, but itās not a noticeable situation after being listed on a major exchange, especially considering that the price of ads is usually reflected before they go live.
After being listed on KuCoin, Gate.io and Bitget on March 20, TUT surged over 330% to a record high of $0.057. However, the rally was short-lived as within 24 hours the token lost almost all of it as early buyers were able to take profits.
Not everyone is looking at a bear market though. Technical analysts like gemxbt_agent are pointing to a bull market in the market.
According to X posts on March 27, TUT recently broke out of a consolidation pattern and formed a possible double bottom reversal. The main support was noted around $0.03, with potential upside targets between $0.06 and $0.065.
#MarketPullback #BSCTrendingCoins #VoteToListOnBinance #Tutorial