The post Byte Price Explodes 125% After Elon Musk Mention In Latest X Stream appeared first on Coinpedia Fintech News
The AI memecoin BYTE exploded 125% in intraday trading after the tech giant and Starlink owner mentioned BYTE in his latest stream on X(Twitter). Elon Musk while testing the new X streaming feature, replied to a conversation by saying “Byte is the perfect name for AI Dog”, to which the market reacted quickly to trigger buyers.
The name is Byte was initially inspired by Elon Musk’s announcement that he would name his pet ‘Byte’.
Byte comes out of the blue today waning attention from trending coins like PEPE, FLOKI, QNT, ETH, ROSE, NOT, and others. BYTE is $0.00001732 at the time of writing, with a spike of 125% in 24 hours and 250% in 7 days.
Byte coin is among the low-cap meme coins, the crypto is dramatically in a downtrend since hitting its All time high ( ATH) of $0.00006408 on March 13, ever since it couldn’t drive the investor attention that a meme coin does.
BYTE is under high volatility, Be Careful
BYTE is facing high volatility with this impulse price surge, the RSI high at 81.58, indicating an overbought signal bears trying to take back the RSI under the line.
The MACD line (blue) is moving above the signal line (orange) showing a bullish trend supported by the green candles.
BYTE Price Prediction
The explosion in Byte price today is due to an unforeseen factor and meme coins are built to gain high marketcap by this kind of influential factor.
Traders cannot consider this surge as an investment opportunity, but look into Byte crypto’s longer vision, community growth, liquidity, and fundamentals to get into.
BYTE price performance is appreciated as the coin made MC of $16 million and trading volume above $2 million without any major listings.
Currently, the chart has broken the downward trendline and this could be a breakthrough to setup the buying zone by following the project news and watching other fundamentals.