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According to CoinGecko, Raydium’s trading volume in the past 24 hours stood at $296 million. This same service indicates that Comedian (BAN), a new meme coin whose market cap has been rising lately, accounted for 8% of the platform’s daily volumes.
Meanwhile, the OSOL/OI trading pair is single-handedly amassing 16% of Raydium’s daily trading activity.
The developing team behind the Solana-based meme coin minting app has been busy lately. On February 14, they launched the Pump.fun mobile app. The protocol makes it even easier for users to launch new tokens on the Solana network and incorporates new features including a watchlist and a portfolio management tool.
RAY Could Offer 33% Gains to Short-Sellers
Today’s drop has found support temporarily at the $3 level as buyers showed up to scoop up RAY at that level.
The token has been on a downtrend since its January peak. Back then, RAY’s price was boosted by the launch of Official Trump (TRUMP) as the launch of the President’s meme coin propelled the platform’s trading volume.
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