#Artificialintelligence and memecoin-based Dolos The Bully (#bully ) attracted attention with its rise for a short time.
Document BULLY on the Solana blockchain increased by 700 percent in a short time and reached the highest dump (ATH) of all time. This rapid rise carried the market value of the token over $ 200 million. Will BULLY, which has both memecoin and artificial intelligence, be able to continue its rise? What is the latest status for the token that has become popular in a short time?
What is the latest status of Dolos The Bully (BULLY)?
BULLY emerged as a memecoin associated with the Llama 3.1 artificial intelligence model. The token reflects elements of Greek mythology to cryptocurrencies.
As of the writing of the news, BULLY is trading at $ 0.23 and has recorded a 72 percent increase in the last 24 hours. The popular altcoin, which has gained 700 percent this week, continues to delight investors. According to data from Messari, the token's volatility has been increasing rapidly since November 20. This development shows that traders are interested in BULLY and that the trading volume is high.
The recent increase in BULLY's Sharpe Ratio is another factor supporting the token's upward price movement. The Sharpe Ratio measures the returns of an asset by including the content of risk. A positive Sharpe Ratio indicates that the suitability of an asset's risk can offer satisfactory returns.
The current positive Sharpe Ratio for BULLY indicates that the price may continue to rise, increasing investor confidence. The data in question seems consistent with the daily increase of 72 percent and the weekly increase of 700 percent.
On the 4-hour chart, BULLY's price is trading above the 20-day Exponential Moving Distance (EMA).
EMA is used to evaluate whether an asset is in an uptrend or downtrend. An upward movement of the EMA indicates an uptrend. Since the current price of the token is above the EMA, it is predicted that the token may rise in the direction of 0.30. However, if the selling pressure increases, this scenario may change and the price may fall to $0.16.
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