MEW Price Prediction: Long positions overcoming current sell pressure are expected to hit $0.00448

The Memecoin project MEW (Cat in a Dogs World) surged by 22% yesterday, with the price reaching a two-month high of $0.00406 before slightly retracting to $0.0037. Meanwhile, the volume skyrocketed by 522.9% to 284 million dollars, and the market capitalization also rose to 349 million dollars, with an increase of 18%. The influx of funds and the rise in on-chain activity have sparked market interest in its subsequent trends: is it a short-term speculative craze, or a signal for the start of a bull run?

The futures market is driving the main force, and the bullish sentiment is clearly warming up

As the overall market sentiment improves, investors quickly enter the MEW market to bet on future trends. Data shows:

• Open interest (OI) experienced a big pump of 57%, reaching 48.36 million USD;

• Derivatives volume surged 695%, reaching 358 million USD;

• The funding rate has turned positive, rising to 0.0046, indicating a bullish market.

  

• The long account ratio reaches 63.8%, while the short is 38%, indicating a clear advantage for the bulls.

This means that most investors are actively betting that MEW will rise further.

Profit-taking pressure emerges, selling pressure rises However, as the price rises, long-term holders are choosing to cash out their profits, leading to increased short-term selling pressure in the market.

• CoinGlass data shows that MEW has recorded positive exchange netflow for two consecutive days, with the current net inflow at 1.57 million USD, an increase of 500,000 compared to the previous day;

  

• This indicates that investors are transferring tokens to the exchange in preparation for selling when prices rise.

Further analysis of the aggregated spot trading data reveals:

• On July 16, the buying power dominated the market, with a buy volume of 13.09 million coins, driving the breakthrough;

  

• But on July 17, the sell orders quickly surpassed, with a sell volume of 31.36 million coins, compared to a buy volume of 23.94 million coins;

• The final Sell-Buy Delta reached negative 7.42 million pieces, and the selling pressure has significantly increased.

Key technical indicators suggest MEW has entered a watershed stage According to AMBCrypto's technical analysis, MEW is currently at a trend watershed.

• The Stochastic RSI indicator reached 92, in a severely overbought range;

• DMI indicator rises to 52, indicating strong upward momentum;

• If the bulls can regain control of the market and overcome the current selling pressure, MEW is expected to break through $0.004 and reach the target price $0.00448;

• Otherwise, if the sell-off continues, MEW may retrace to the key support level $0.0033.

  

Conclusion: MEW's recent rise has benefited from the bullish sentiment in the futures market and a strong influx of capital, but at the same time, profit-taking has quickly flowed back to the exchanges, creating significant selling pressure. The subsequent trend will depend on the outcome of the long and short game. For crypto investors, MEW is a typical case of short-term trend betting and an important barometer for the market liquidity returning to the altcoin sector.