Mubarak Meme Coin Surges 200% as Trader Achieves 4,860x Profit
The Binance meme coin ecosystem has seen significant activity with the introduction of meme token Mubarak (MUBARAK), which surged 200% in 48 hours, reaching an all-time high of $0.2158.
Current trading price is $0.1599, a 75% increase in the last 24 hours, with market cap at $443 million and trading volume up over 70%. Key factors for this rise include:
- Listing on Binance Alpha
- Transaction by former Binance CEO Changpeng Zhao (CZ)
CZ's transaction involved swapping 1 BNB for 20,150 MUBARAK tokens, valued around $600, interpreted as a bullish signal. The token also joined the Binance Futures program.
Catalytic Trader Profit
A trader turned $232 into over $1.1 million by investing 0.4 BNB to acquire 10.5 million MUBARAK tokens and selling part of it for 576 BNB, netting approximately $363,500 in profit while retaining 5.16 million tokens worth around $832,834.
Market Analysis
The 30-minute price chart indicates recent consolidation after a rally. The MACD shows a bearish crossover, suggesting potential short-term pullback, while the Relative Strength Index (RSI) at 40.67 indicates stable momentum.
TST Token Overview
A similar situation occurred with TST, created for educational purposes on the BNB Chain. Its promotion by key opinion leaders following its unveiling has sparked increased interest, particularly within the Chinese crypto community.