Kamala Harris-Themed Meme Coin Surges
The Kamala Harris (HARRIS) token has experienced a significant surge in value, climbing over 23% in the past 24 hours. As of 7:55 a.m. EST, it trades at $0.00002386, driven by investors eager to acquire the meme coin.
This price increase coincides with the upcoming announcement of vice-presidential running mate by Harris, the Democratic nominee for the 2024 US Presidential Election. Speculation suggests that Pennsylvania Governor Josh Shapiro or Minnesota Governor Tim Walz will be her choice.
HARRIS Tests Crucial Support
HARRIS currently rests at a key support level of $0.00002362. If the meme coin falls below this level within the next 12 hours, it may face a drop to the next mark of $0.00001532.
Conversely, remaining above $0.00002362 could provide a buying opportunity for traders. With increased interest, HARRIS may attempt another challenge at the resistance level of $0.00003376.
A break above $0.00003376 would strengthen HARRIS's technical position, potentially driving it as high as $0.00004390 in the short term.
Cautionary Flags
However, there are potential bearish signals to consider. The Moving Average Convergence Divergence (MACD) indicator suggests a reversal in momentum, as the MACD line approaches the MACD Signal line. Additionally, the 9 and 20 Exponential Moving Average (EMA) lines are narrowing, indicating a potential bearish crossing.
Shift to Pepe Unchained
Despite HARRIS's price support, investors are also turning their attention to Pepe Unchained (PEPU), a presale project endorsed by YouTuber ClayBro. PEPU aims to enhance the potential of the popular frog-themed meme coin PEPE by moving it to a dedicated layer-2 network. This would reduce transaction fees and improve processing speeds.
PEPU's Success
Despite the recent crypto market crash, PEPU has raised over $700K in the past 3 days through an ICO, bringing its total funding to over $7.4 million. Investors are attracted by the project's goal to improve PEPE's functionality and the high APY (263%) offered to early buyers.
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