- USDUC climbed close to 1,000% after Binance.US listed the token for spot trading.
- Trading activity spiked fast, showing heavy inflows alongside rising volatility.
- The $0.01135 level now stands as the key support traders are watching.
Solana-based meme coin, Unstable Coin (USDUC, recorded a sharp price action on Thursday, exploding by close to 1000% following its listing for spot trading on Binance.US. This rally pushed the meme coin’s value to nearly $29 million before crashing. The move drew attention across trading circles, with many now watching whether the price of Unstable Coin can stabilize or continue sliding.
USDC Binance.US Listing Sparks Immediate Buying Pressure
Activity around this meme coin picked up on May 6 when Binance.US opened deposits for USDUC. This move alone was enough to draw early buyers into the market.
Traders moved in ahead of the official launch, pushing the price higher in anticipation of spot trading. By the time trading pairs went live on May 7 at 7:00 a.m. ET, the token had already posted strong gains, peaking at approximately $0.025.
While the speed of the move indicated a strong demand, it opened a window to a quick reversal. Within hours, sell-side pressure started, shrinking a significant portion of the gains. The market cap dropped to $14 million, coinciding with the plunge in price.
Whales Moved Early, Retail Followed Late
On-chain data points to significant early accumulation by some of the larger wallets before listing. These whale buyers came in at about $2 million, buying USDUC coins worth over $150,000. Once demand picked up, those traders enjoyed a significant edge as the price boomed.
However, smaller traders entered the fray following the listing, further increasing the demand. As a result, trading volume rose to almost $35 million from the previous trading volume. Nonetheless, the price increase was not as large as the volume increase, indicating that new money was coming in quickly.
Once early buyers began exiting, the same volume that pushed the price higher accelerated to the downside. That dynamic now hangs over the current market structure.
Key Support Defines Short-Term Direction
After the spike, USDUC corrected roughly 20%, finding support near the $0.01135 level. This zone now acts as the line separating continuation from breakdown.
Since then, USDUC’s price, as shown by the 15-minute chart, has stabilized at $0.0115, indicating some short-term recovery from the initial decline. Momentum indicators are picking up some positive momentum, but the interest is not great.
If buyers hold onto current levels, the next resistance is around $0.02 and then at $0.025. A move above that range would probably result in another quick move, for speculation rather than fundamentals.
Conversely, a $0.011 move lower would negatively impact the structure and draw in additional selling pressure. If that is the case, the price may fall to $0.0100, where another support level might emerge.
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