1. Large amount of MEME withdrawn:
• On January 1, 2025, 694.91 million MEME was withdrawn from Binance at an average price of $0.0108. This indicates a large amount of tokens being transferred off the exchange, possibly due to investors deciding to store or use them on other platforms.
• Previously, larger MEME withdrawals such as on December 18, 2024 (252.38M) and December 10, 2024 (215.76M) positively impacted the MEME price (price increased by 3.67% and 12.63% respectively).
2. Price volatility:
• The withdrawal on January 1 did not significantly impact the price, indicating that buying and selling pressure may be balancing out.
• Meanwhile, previous withdrawals (especially on December 10) significantly increased the price, possibly due to investor confidence in the long-term value of MEME.
3. Current price trend:
• The current price of MEME is $0.01125, down 6.13%, which may indicate short-term selling pressure in the market.
Trend analysis:
1. Accumulation trend (increased capital outflow):
• The amount of MEME withdrawn from Binance has continuously increased in large waves, which usually indicates that investors are tending to accumulate for long-term storage or to use on other platforms. This trend may support the price in the medium and long term.
2. Impact on price:
• Large withdrawals often lead to price increases (as seen on December 10 and December 18). This proves that MEME is receiving good price support as the supply on the exchange decreases.
3. Short-term adjustment potential:
• The current 6.13% price drop may be due to some investors selling when prices increased in previous waves. However, if the accumulation trend continues, the price is likely to recover in the near future.
Predictions and recommendations:
1. Short term:
• The price may continue to adjust slightly if selling pressure remains high. However, the decline will be limited if the outflow continues to be sustained.
2. Medium term:
• If the trend of withdrawing MEME from Binance remains strong, the price may gradually increase due to reduced supply on the exchange.
3. Recommendations:
• Short-term investors: Closely monitor price movements and trading volumes to determine reasonable buy/sell points.
• Long-term investors: If you believe in the potential of MEME, the current accumulation trend is a good opportunity to hold.