NOIDA (CoinChapter.com) — Recently listed on Binance ACT I: AI Prophecy (ACT) Within a few hours on November 11, the token price surged 2000% from $0.019 to $0.47. ACT, a meme token built on the Solana blockchain, quickly gained trading attention, with trading volume surging more than 16,000%.
Due to volatility, AIn CT, Binance’s “seed tag.” This sparked both profiteering and caution among traders, as Binance warned users to thoroughly assess the risks before participating.
Binance listing increases ACT token attractiveness
The listing of ACT on Binance on November 11, 2024 was a pivotal moment for the token and attracted significant trading activity from the moment trading began. The exchange’s choice to list ACT reflects growing interest in speculative meme coins and Solana-based projects.
however seed tag Being assigned to ACT means increased volatility and risk, factors that Binance uses to signal potential price movements that can unnerve inexperienced traders.
Regulatory restrictions in some jurisdictions, including the United States and Canada, may limit the availability of ACT, potentially impacting trading volume in those jurisdictions. But the list has empowered traders in other regions.
One trader made incredible profits by leveraging the ACT listing. On-chain tracker Lookonchain highlighted that investors spent 2,658 SOL (about $457,000) to acquire 17.16 million ACT between October 25 and November 3.
Following Binance’s listing announcement, traders quickly took profits, selling 9.33 million ACT for 11,945 SOL ($2.48 million) and retaining 7.83 million ACT worth $2.74 million. This method helped the trader earn an impressive profit of $4.77 million in less than 18 days.
Token continues ridiculous rally
Meanwhile, ACT price continued to rise following a massive 2,610% surge on November 11, paring some of the gains after the token reached $0.542. However, the token continued its rally on November 12, surging another 51% to a new record of $0.63 before a correction was triggered due to profit booking.
Now, if Mimcoin continues its upward trend, ACT Coin price may challenge resistance near $0.65 again. A breakout and consolidation above the immediate resistance level could help ACT 1 price target resistance near $0.81 before the token price starts to rise.
On the other hand, with an overbought RSI hitting 94.64 on the daily chart, we can see ACT 1 coin price reversing the trend. Because overbought RSI levels typically precede reversals, traders view them as sell signals.
If you are looking for profits, you will see ACT 1 price testing support levels near $0.41 and $0.24.