• As of the time of writing, Mumu is one of the stocks with the largest increase in the past 24 hours.

  • Mumu's target is a market cap of $1 billion.

Mumu the Bull (MUMU) has surged 23% in the past 24 hours and 84% in the past month.

This memecoin running on the Solana blockchain has caught the attention of traders, with performance ranking among the best in the market.

According to CoinMarketCap data, MUMU's 24-hour trading volume has increased by 256%, currently reaching $14 million.

The ratio of trading volume to market cap is 9.57%, with an FDV of $155.51 million, indicating strong market liquidity.

MUMU's price action has clearly broken out of an ascending wedge pattern and subsequently entered a consolidation phase.

The currency has formed a descending triangle and successfully tested this breakout with a double bottom pattern, indicating that the upward trend will continue.

With this bullish momentum, its market cap seems poised to reach $1 billion, especially with the anticipated 2025 memecoin supercycle approaching.

Indicators such as MACD confirm that bullish pressure remains strong, and trading volume supports further price increases.

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MUMU has also initiated a seemingly impulsive Elliott wave pattern's third wave, targeting $720 million based on Fibonacci levels.

Market sentiment shows that Mumu is gaining attention, with many traders optimistic about a breakout.

From a technical perspective, indicators such as MA, RSI, and ADX on the daily chart suggest that MUMU will continue to rise.

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The Average Directional Index (ADX) confirms strong momentum, with the price remaining stable above the moving average.

These factors suggest that MUMU may soon re-test its previous high of around $286 million, with expectations to rise between $350 million and $480 million.

Open interest and long/short ratio

Futures data further supports this bullish outlook. The weighted funding rate is 0.0968%, which means long traders are paying shorts, indicating strong market confidence.

Coinglass data shows that open interest levels are at an all-time high, reaching $4.64 million.

The long/short ratio is 6.5, which means that there are significantly more long traders than short traders, reinforcing positive sentiment.

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This ratio reflects the behavior of top traders, and as most favor long positions, the outlook for MUMU remains positive.

Bullish Mumu presents a strong upward trend, supported by technical indicators and market sentiment.

Traders are optimistic that as liquidity and interest in the token grow, MUMU will continue to rise, making it one of the prices to watch in the upcoming memecoin supercycle.