News View Non-AMP

Magic Eden (ME) Token Soars 20% Amid NFT Season Hype

Published by
Mustafa Mulla

 The Magic Eden (ME) token, a cryptocurrency focused on NFTs, is making a notable comeback. After struggling post-launch due to a massive airdrop and market volatility, the token has now risen to $4, with a market cap of $511 million.

Magic Eden’s Price Surge

The ME token launched to great excitement, fueled by a high-profile airdrop that captured the crypto community’s attention. This buzz drove its price to an all-time high of $13.24. However, the initial surge was followed by a sharp correction and a prolonged phase of consolidation that tested investor confidence.

The ME token is now showing signs of recovery. Earlier today, its price hit $4.23 before settling at $3.97, reflecting a 10% gain in a single day and a 20% rise over the past week. Trading volume has also jumped 130% to $1.17 billion, signaling renewed investor interest and confidence.

NFT Season Anticipation Sparks Optimism

One of the main drivers behind the token’s recent performance is the anticipation of a strong NFT season. Magic Eden’s expanding multi-chain NFT ecosystem is drawing significant attention from both crypto enthusiasts and investors. This momentum has shifted sentiment around the token from bearish to bullish.

Experts predict the NFT season could push the ME token’s price significantly higher. Some forecasts even suggest it could reach $50 as the ecosystem grows and demand for NFTs increases.

Can ME Token Reach Its Peak Again?

Despite recent gains, the ME token still needs a 70-75% increase to return to its previous high of $13.24. Technical indicators show mixed signals: while moving averages and momentum trends suggest a short-term upward trajectory, the Relative Strength Index (RSI) is neutral but nearing the oversold zone.

As a top NFT marketplace, Magic Eden has strong long-term growth potential. However, uncertainties remain due to the token’s recent launch and limited trading history. Even so, growing interest in NFTs may continue to drive demand and boost the token’s value.

With investor sentiment improving and the NFT market gaining momentum, Magic Eden’s token is one to keep an eye on as the crypto space evolves.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Pi Network News Today, AI-Powered Pi App Studio Launches 7,932 Apps

Pi Network is making headlines again. On June 28, 2025, the project launched an AI-powered…

July 2, 2025

Pi Network Price Prediction for July 2025

As July 2025 kicks off, Pi Network faces both opportunity and challenge. While the community…

July 2, 2025

Pi Network Price Will Not Fall Below $0.40, Here’s Why

The Pi Network has seen its price drop steadily over the past months. From once…

July 2, 2025

New SEC Guidance Clears the Air for Crypto ETP Issuers: Details Inside

On July 1, the SEC (Securities and Exchange Commission) issued guidance for crypto ETP (Exchange…

July 2, 2025

H1 2025 Crypto Market Report- Market Trends, Key Metrics, and Institutional Flows

After peaking at $3.7 trillion in Q4 2024, the crypto market entered 2025 with weaker…

July 2, 2025

Senate Passes Donald Trump’s Big Beautiful Bill

The U.S. Senate has passed President Donald Trump’s massive $3.3 trillion spending bill, nicknamed the…

July 2, 2025