Memecoins
Beercoin Analysis and Prediction BEER, Is the New Memecoin Worth Buying
Solana’s low fees and fast throughput have made it the ideal network for creating new cryptocurrencies, making it easier for meme coin creators.
A recent report revealed that almost half a million (455,000) tokens have been created on the Solana blockchain. This is the highest of any blockchain to date. Solana The network seems to reproduce the scenario of Ethereum ICO phase in 2017.
Amidst all this, a new memecoin was released on the Solana network, Beercoin (BEER) with a presale collection of 30,000 SOL. At the time of writing, BEER stands at $0.00044, increased by 163% on a weekly basis and 330% on a monthly basis, and shows an upcoming uptrend.
BEER is an essential crypto
There is not much chart data available to retract any historical performance, but in the BEER/USDT 4-hour chart, parabolic growth can be seen. BEER has very weak support at $0.00022, with a 50% downside, resistance at $0.00046, and a high of $0.0005, its ATH.
The volume oscillator moving alongside price is an indicator of how price changes based on buyer and seller sentiment. But the Money Flow Index (MFI) at 79 shows that the asset could move into overbought territory.
Is it good to buy BEER now?
BEER is a meme coin, ready to move with the trend. Look at terms like liquidity, quote scenario, and overall market trend, BEER can be a must-play crypto.
Things to look for are the critical zone of $0.0003 and $0.0002, if the price is brought back to trade within this range the direction is uncertain. Any rise above $0.00046 will create a sideways trading zone or jump to enter a new ATH.
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