#Meteora
🚀 Meteora ($MET ) surges +30.96%: what’s happening with the token and what to expect next?
The Meteora ($MET ) token is showing impressive momentum, climbing to $0.360 over the last 24 hours. Meteora is a key liquidity protocol and a leading decentralized exchange (DEX) built on Solana.
We’ve rounded up the main drivers behind this rapid rally and the key levels to watch:
1️⃣ Memecoin boom and explosive volumes
Details: The launch of the "STONK" memecoin via Meteora attracted over $2.8 million in local liquidity pools (TVL), while daily trading volume jumped from $17.7 million to $34.7 million.
Impact: Meteora overtook Raydium in 30-day revenue, cementing its position as a primary liquidity hub for memecoins on the Solana network.
2️⃣ Rapid capital inflow and open interest
Details: Open Interest (OI) for MET on Binance Futures surged by an unprecedented 440.54%. At the same time, traders are actively rotating profits from other tokens (e.g., $LIT ) directly into MET.
Impact: The massive influx of derivatives capital signals high volatility and strong trader interest.
3️⃣ Technical analysis and key levels
Support level: $0.34 (previous resistance, now acting as a key defense zone for buyers). Target (Resistance): $0.38 — the next key barrier to the upside.
Secondary Support: $0.332 (invalidation zone for the short-term bullish scenario).
Solana Factor: The MET token shows a strong correlation with SOL. Solana's overall trend and momentum remain crucial for MET's future movement.
⚠️ Summary for Traders:
The current trend is strongly bullish, though volatility remains high. Holding the $0.34 level paves the way for a test of $0.38, whereas a drop below it could signal a local correction.
🚀 Meteora ($MET ) surges +30.96%: what’s happening with the token and what to expect next?
The Meteora ($MET ) token is showing impressive momentum, climbing to $0.360 over the last 24 hours. Meteora is a key liquidity protocol and a leading decentralized exchange (DEX) built on Solana.
We’ve rounded up the main drivers behind this rapid rally and the key levels to watch:
1️⃣ Memecoin boom and explosive volumes
Details: The launch of the "STONK" memecoin via Meteora attracted over $2.8 million in local liquidity pools (TVL), while daily trading volume jumped from $17.7 million to $34.7 million.
Impact: Meteora overtook Raydium in 30-day revenue, cementing its position as a primary liquidity hub for memecoins on the Solana network.
2️⃣ Rapid capital inflow and open interest
Details: Open Interest (OI) for MET on Binance Futures surged by an unprecedented 440.54%. At the same time, traders are actively rotating profits from other tokens (e.g., $LIT ) directly into MET.
Impact: The massive influx of derivatives capital signals high volatility and strong trader interest.
3️⃣ Technical analysis and key levels
Support level: $0.34 (previous resistance, now acting as a key defense zone for buyers). Target (Resistance): $0.38 — the next key barrier to the upside.
Secondary Support: $0.332 (invalidation zone for the short-term bullish scenario).
Solana Factor: The MET token shows a strong correlation with SOL. Solana's overall trend and momentum remain crucial for MET's future movement.
⚠️ Summary for Traders:
The current trend is strongly bullish, though volatility remains high. Holding the $0.34 level paves the way for a test of $0.38, whereas a drop below it could signal a local correction.
