What is the price of MFER token? Where can it be purchased?
On January 30, 2024, the well-known NFT project Mfers announced the launch of the MEME token mfercoin (MFER) on the Base chain. Mfers consists of 10,000 digital art pieces of matchstick figures created by the artist Sartoshi, which quickly became popular in the NFT community since its launch in November 2021. The project adopts the CC0 license, allowing free use of the works, sparking a large number of derivative creations and the emergence of the 3D version mferverse. Sartoshi transferred control of the project to the community, which is managed by a community multi-signature wallet, giving mfer holders the freedom and responsibility to continue developing mferverse.
According to Gate.io market data, MFER has seen a significant increase in the past 24 hours, with a peak price of $0.034, followed by a sharp decline. As of writing, MFER is trading at $0.0195, with a 24-hour gain narrowed down to 40%. MFER currently has a circulating market value of $19 million and ranks 3220th in the overall market.
MFER Token Market Analysis
Trading data
- Current price: 0.01955 USDT
- 24-hour increase: 38.95%
- 24-hour highest price: 0.02607 USDT
- 24-hour lowest price: 0.01346 USDT
- 24-hour trading volume: 9,255,250.89 MFER
- 24-hour trading volume: 164,878.23 USDT
Trading Strategy Advice
Strategy one: Short-term long strategy
- Direction: Bullish
- Entry price: 0.0195 USDT
- Stop Loss Price: 0.0175 USDT
- Target price: 0.0250 USDT
Reasons and features: MFER has surged significantly in the past 24 hours, indicating a strong buying signal. Support level: There is strong support near 0.0175 USDT, suitable for setting stop-loss. The target is set at 0.0250 USDT, close to the 24-hour high, in line with short-term price fluctuations.
Strategy 2: Range trading strategy
- Direction: Short-term range trading
- Entry Price: 0.0135 USDT (buy at the low end)
- Stop Loss Price: 0.0120 USDT
- Target Price: 0.0200 USDT (Sell at High)
Reasons and features: MFER has fluctuated greatly in the past 24 hours, making it suitable for range trading. Enter around 0.0135 USDT and take advantage of price pullbacks, with a target set at 0.0200 USDT and taking advantage of market rebounds for profits.
Future Outlook
The founding team of the MFER project believes that the era of cryptocurrencies is no longer limited to early developers. As cryptocurrencies play a decentralized role in social structures and transactions, people from various industries will become users, holders, and participants in cryptocurrencies. MFER hopes to become a MEME symbol within the crypto community, a meme coin based on the spirit of mfer.
Although the narrative of MFER aligns with the pursuit of decentralization and cultural symbolism in the cryptocurrency market, the price performance of MFER tokens since its listing has been disappointing. After reaching a high point of $320 million market capitalization upon launch, MFER has been on a continuous decline, with the current market capitalization only at $19 million. As a meme token, MFER lacks broader exposure and usage prospects, and its impressive performance in the past 24 hours may just be a flash in the pan.
