Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
BitMEX Founder Backs Smoking Chicken Fish (SCF) Memecoin Despite Price Dip

BitMEX Founder Backs Smoking Chicken Fish (SCF) Memecoin Despite Price Dip

CoinEditionCoinEdition2024/10/31 16:00
By:Anisha Pandey

BitMEX co-founder Arthur Hayes announced support for Smoking Chicken Fish (SCF). SCF crashed a massive 5.33% in the past 24 hours. SCF is down 63.19% from the ATH which was witnessed not long ago at $0.1463.

  • BitMEX co-founder Arthur Hayes announced support for Smoking Chicken Fish (SCF).
  • SCF crashed a massive 5.33% in the past 24 hours. 
  • SCF is down 63.19% from the ATH which was witnessed not long ago at $0.1463.

Smoking Chicken Fish (SCF) memecoin received backing from Arthur Hayes, co-founder of the crypto derivatives trading platform BitMEX. Despite this, the cryptocurrency has dropped 5.33% in the past 24 hours.

According to the data from CoinMarketCap, SCF is trading at $0.05427, with a market capitalization of $53.85 million and a trading volume of $5.68 million. The cryptocurrency’s all-time high occurred 18 days ago, when SCF reached $0.1463. The memecoin is currently down 63.19% from its all-time high.

Hayes expressed his support for the project on X, greeting his followers with “cowabunga.” The cryptocurrency has been bearish in the past 24 hours, but Hayes’ support could push the price higher in the short term.

It is important to note that SCF has fallen 17.75% in the past seven days and 31.74% in the last 30 days. The digital asset is down 4.83% since September and 44.6% in the past 14 days.

SCF Technical Analysis

An analysis of the SCF price trajectory shows that the memecoin is facing resistance around $0.071. To reach a new all-time high, the altcoin needs to break through this price level.

Read also: Arthur Hayes: China’s Quantitative Easing Will Trigger a Bitcoin Price Surge

BitMEX Founder Backs Smoking Chicken Fish (SCF) Memecoin Despite Price Dip image 0 BitMEX Founder Backs Smoking Chicken Fish (SCF) Memecoin Despite Price Dip image 1

The Relative Strength Index (RSI) for SCF reads a value of 42.61 which means that the bears are in control of the meme coin’s price action and the chances of higher highs in the near future are considerable if buyers take control following Hayes’ support.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like