Gigachad's 28% Surge: Coinbase Listing Hype or Just Another Pump?
Meme coins are making headlines as they defy trends and soar in the market. The latest to catch fire is Gigachad, whose price leaped 28% following Coinbase's announcement of upcoming listings. But should we take this as a sign of future success? Let's unpack the meme coin dynamics and consider the pros and cons of investing in these volatile tokens.
The Gigachad Surge
GIGACHAD soared 28% in the last 24 hours, trading at $0.05463 around 2:45 a.m. EST with a volume increase of over 351%, hitting $54.4 million. The price was relatively stable until about 10 a.m. EST yesterday when it shot up from $0.04146 to $0.06555 in just five minutes. Talk about fast money!
The Coinbase Effect
The spike in price was triggered by the Coinbase Assets announcement that Gigachad (GIGA) and Turbo (TURBO) are on their roadmap. As the leading US crypto exchange, Coinbase's influence on token prices cannot be understated. The news that GIGA will be listed next caused a huge wave of buying pressure.
Of course, this wasn't the token's all-time high. It faced resistance at $0.050, but the price action was still rewarding for those holding the token.
What Next for GIGACHAD?
The price move came after GIGA appeared on Coinbase's radar. The Bollinger bands widened significantly at the time of the announcement, only to tighten back several hours later. But just a few hours ago, they started to widen again, coinciding with Bitcoin's own price surge above $100k.
While the bands might suggest bullish movement, the Relative Strength Index (RSI) indicates that GIGA may soon be overbought. The RSI nearly touched 70, typically a sell signal for many traders.
The Alternative: Catslap
Many think the next gem is Catslap (SLAP), another meme coin that might also land on Coinbase soon. It has been building hype for weeks, counting down to an announcement.
Catslap has a fun mini-game on its website that generates engagement. It has a Slap-To-Earn model, where users earn tokens for slapping, which has led to increased interaction with the project.
While the speculation may not pan out, the community seems excited, and even YouTuber Jacob Crypto Bury thinks SLAP is the 100x crypto.
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Disclaimer
Quadratic Accelerator is a DeFi-native token accelerator that helps projects launch their token economies. These articles are intended for informational and educational purposes only and should not be construed as investment advice. Innerly is a news aggregation partner for the content presented here.
