Solana

Time

MICHI, the cat-themed memecoin on the <a href="https://www.thecoinrepublic.com/price-prediction/solana/">Solana</a> blockchain, saw a notable surge of over 90% this week.&nbsp;Amidst the significant upmove, the MICHI price was on the verge of a breakout at press time. It could fly toward the blue sky zone soon. 
Fueled by the considerable reversal in the crypto market, the MICHI price surged the most and retained the gains. 
It made a double bottom formation near the pivot mark of $0.0800 and revived over 250% this month. The memecoin seemed poised for another bullish leg and is trading on the brink of a breakout region. 
Once the memecoin crosses the $0.3700, another bullish wave toward the $0.4600 mark can be triggered immediately. Its technicals looked robust, and it was a strong contender to chase the upside. 
It has been trading in the closed range for the past two months and attempting a breakout. However, the signs of a breakout were noted, and the memecoin was in a hurry to climb beyond the barriers. 
Following the shift in the market sentiment this month, <a href="https://www.thecoinrepublic.com/price-prediction/michi/">MICHI</a> reverted from its bottom and was eyeing the ATH mark of $0.5922 to revisit soon. 
<h2 class="wp-block-heading" id="h-michi-price-at-press-time">MICHI Price at Press Time</h2> 
At press time, the MICHI price traded at $2.10 with an intraday surge of 4.36%, reflecting neutrality on the charts. In terms of the market cap, the token was ranked 245th and had a total supply value of 556.77 Million. 
The pair of MICHI/BTC was at 0.00000492 BTC, and the market cap was $181.99 Million. Analysts were bullish and suggested the MICHI price could register a sharp breakout rally shortly. 
<h2 class="wp-block-heading" id="h-can-michi-take-a-bow">Can MICHI Take a Bow?</h2> 
The Daily chart projections of MICHI favored the upside and signified a bullish outlook. It reverted from its vital support zone and hinted at the buyer accumulation from the bottom.&nbsp; 
Once MICHI jumps beyond the $0.3700, a massive short covering rally can lead MICHI toward its blue sky zone trajectory soon. <iframe title="Santiment Chart: Price ($MICHI), Volume ($MICHI)" width="800" height="425" src="https://embed.santiment.net/chart?ps=maker&amp;pt=MKR&amp;df=2024-01-24T18%3A29%3A59.904Z&amp;dt=2024-07-24T18%3A29%3A59.904Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bmichi%3B%24MICHI%5D%3B%5B1%3Bvolume_usd%3Bmichi%3B%24MICHI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%2212h%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
For the past few weeks, the bear army tried to break its bottom zone multiple times, but failed and looked trapped. 
Afterward, significant recovery was spotted, and the token was ready to break the barrier and poised for outperformance. 
Its Relative Strength Index (RSI) curve sailed in the overbought zone and formed a positive divergence, signifying the bullish momentum. 
@DCBcrypto, in his X post, mentioned that MICHI trades near the breakout region and can trigger a sharp upmove ahead. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24MICHI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MICHI</a> – when that level gets flipped the cat goes to ATH in a few candles max <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f408.png" alt="🐈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/L3ZU9RmCqZ">pic.twitter.com/L3ZU9RmCqZ</a>— Dead Cat Bounce (@DCBcrypto) <a href="https://twitter.com/DCBcrypto/status/1816052530733887605?ref_src=twsrc%5Etfw">July 24, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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Likewise, the MFI (Money Flow Index) showed the bulls’ strength and reflected the surge in the buying pressure. 
<h2 class="wp-block-heading" id="h-social-dominance-and-weighted-sentiment-insights">Social Dominance and Weighted Sentiment Insights</h2> 
The Social Dominance Data rose over 8% in the intraday session and denoted the surge in the online discussion among the investors on the social media platforms. <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) ($MICHI), Social Dominance ($MICHI)" width="800" height="425" src="https://embed.santiment.net/chart?ps=maker&amp;pt=MKR&amp;df=2024-01-24T18%3A29%3A59.904Z&amp;dt=2024-07-24T18%3A29%3A59.904Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_volume_consumed_total%3Bmichi%3B%24MICHI%5D%3B%5B1%3Bsocial_dominance_total%3Bmichi%3B%24MICHI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
Its Weighted Sentiment data stayed around the zero line, signifying the neutrality among the investors, noted at the -0.219 mark. 
The immediate support levels for the MICHI token were $0.3100 and $0.3000, whereas the key upside hurdle was around $0.3500, followed by $0.3700 
The MICHI token price traded beyond the significant moving averages and looked bullish on the charts. Its technicals favored the upside, and the token was poised for a significant surge ahead. 
The post <a href="https://www.thecoinrepublic.com/2024/07/25/michi-price-surged-over-15-intraday-can-it-soar-beyond-0-3800/">MICHI Price Surged Over 15% Intraday: Can It Soar Beyond $0.3800?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

MICHI Price Surged Over 15% Intraday: Can It Soar Beyond $0.3800?

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