michi (MICHI)
1. Fundamental Analysis
1.1 Introduce
michi is a widely popular meme coin on the Solana blockchain. Standing on two feet, michi is the most memeable cat on the internet, bringing a cuteness factor to endless possibilities.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | MICHI | Market Cap | 60634582.8245 |
| Name | michi | White Paper | -- |
| Web Site | https://michisolana.org/ | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | https://explorer.solana.com/ | Algorithm | -- |
| Forum | -- | Proof | -- |
| Mining | Total | 1000000000 | |
| Supply | 1000000000 | Release Date | |
| Available Supply | 555770695 |
2. Technical Analysis
2.1 Kline Chart
2.2 Analysis
The analysis reveals a clear downward trend from December 5th to January 1st 2025 after a period of high volatility and a significant price surge witnessed between December 5th and December 11th. The price action from December 1st to December 11th shows an initial strong uptrend culminating in a peak around December 7th followed by a sharp decline and significant volatility. The period from December 12th to December 19th indicates an initial continued decline followed by a weak and indecisive market with fluctuating lower highs and lower lows. The strong downward momentum begun at December 19th continues through to December 31st marked by a series of consistent lower highs and lower lows. Volume generally decreases from the 5th to the end of the year and this weakening volume suggests a decrease in conviction behind both the initial uptrend and the subsequent downtrend. The final two days of the year 2024, along with January 1st 2025, indicate decreased volatility with relatively smaller price ranges and the lack of strong direction with the market seemingly finding a temporary support level around 0.10 and 0.11. Given this data, a continued downtrend is projected for the short term, although the momentum has seemingly weakened potentially indicating the downward momentum is losing its strength. We expect the price range between 0.10 and 0.12. Further downward pressure should be met with resistance around 0.10 in the coming days. A consolidation pattern is anticipated before the next major price trend emerges. Traders should anticipate a consolidation phase before seeking trading opportunities. There are possible signs of bottoming as the price approaches levels around 0.10 but it is not strong enough to call it a firm turnaround.
