Amidst political chaos, a new memecoin making waves is PWEASE. Surging 200% in under 72 hours, reigniting the memecoin craze. Yet, can it truly challenge the giant TRUMP?
The PWEASE ($PWEASE) is the latest memecoin launched on the Solana blockchain, experiencing remarkable success.
This memecoin is causing a stir as it satirizes JD Vance, Donald Trump’s crypto Tsar. PWEASE is derived from a meme created from an edited photo of JD Vance with a childish face.
Some even link this memecoin to a political satire mocking the alleged submission of former US Vice President Mike Pence to Ukrainian President Volodymyr Zelensky. The X Mr.Frog account, with its 121k followers, tweeted a photo of JD Vance with a child’s head along with the comment “You shoulda said Pwease”.
It took less than 24 hours for the memecoin to soar to over 30 million dollars in market capitalization in just a few days.
The strength of a memecoin lies in the community’s involvement. The PWEASE community demonstrates exuberant engagement on social media through viral campaigns, member-created content, especially on TikTok, and participative marketing strategies. This collective dynamic gives a unique impetus to the token.
Indeed, the Pwease memecoin has rivaled in terms of mindshare with giants DOGE and PEPE and the GIGA memecoin. It has already garnered millions of views on various platforms.
At the time of writing, the PWEASE memecoin is trading at $0.447, with a market cap of $44 million. The token surged by 220% over the last three days.
As shown in the chart, the memecoin is in an upward ascending channel and is at the upper end of the channel. Since its 80% drop from March 5th to 8th, PWEASE has seen its Chaikin Money Flow start to rise again. This indicates that sellers have mostly exited the token, and it is embarking on a new momentum. However, the CMF struggles to rise above the 0 score.
The upper resistance of the channel is at $0.52 cents. If its price fails to rise beyond this, it could fall back to the middle of its Bollinger band at $0.28.
It is worth noting a bearish divergence appears with the RSI in 1H and 4H. The RSI shows a lower high than its peak at 40 cents on March 8th.
If PWEASE fails to maintain its upward pace and volumes do not follow, it could drop to its strong historical demand zone at $0.0072, a potential drop of 81%. The support at $0.26 must be maintained to avoid this drop.
New tokens like PWEASE, which are skyrocketing, are not yet listed on major platforms such as Bitget or Binance. To get ahead and acquire them before they explode, turn to efficient trading bots like Clone or BullX. Here is a simple guide in a few steps:
Follow this method to seize new memecoins before they explode.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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