Key Points:
-
Fueled by increased activity in BNB Chain-based meme coins, FORM is
showing signs it could reach $2, a potential 40% increase, as its
ascending triangle pattern strengthens. -
Four.Meme is generating more daily revenue than Pump.fun, with
approximately 70% of its users currently seeing profits.
The FORM token, which powers the Four.Meme memecoin launchpad on the BNB
Chain, has experienced a remarkable surge of almost 85% in under two weeks.
This includes a significant rise of over 50% in the last day alone, sparked
by Binance co-founder Changpeng “CZ” Zhao’s popular ”
BNB meme szn” post on social media.
Technical indicators and on-chain data suggest that FORM could see further
price appreciation throughout October. Let’s take a closer look.
FORM’s Ascending Triangle Formation Suggests a 40% Rise
The FORM token is exhibiting early signals of a potential bullish trend reversal.
After a significant price decline of over 75% in recent months, the token
is now appearing to establish an
ascending triangle pattern. This pattern often signals the beginning of a new uptrend after a period
of falling prices.
As of Wednesday, FORM is trading near $1.42, recovering from a recent low
around $0.80. The triangle’s upper resistance level is near $1.50–$1.60,
while its rising lower trendline has provided support for higher lows since
the end of September.
If the price decisively breaks above the resistance level, it could confirm
the triangle pattern and potentially lead to a move towards $2, representing
a gain of approximately 40% from current prices.
Momentum indicators support this potential scenario, as the daily
relative strength index (RSI)
has rebounded significantly from oversold levels below 30. Increased trading
volumes also suggest that the upward momentum of FORM is strong.
Four.Meme’s Daily Earnings Outpace Pump.fun
FORM’s positive outlook aligns with a resurgence in the BNB ecosystem, where
trading activity driven by meme coins has surged after CZ’s meme season
announcement. This trend is apparent in
Four.Meme’s total value locked (TVL) metric.
The launchpad generated $1.40 million in revenue during the same timeframe,
exceeding its Solana-based competitor, Pump.fun, which recorded $885,420,
according to
DefiLlama data.
The price of Pump.Fun’s native token, PUMP, has dropped by over 20% in the
past week, further suggesting that traders are increasingly focusing on FORM.
Solana meme coins are also experiencing declines as attention shifts toward
their BNB Chain counterparts.
Related:
TRUMP memecoin issuer seeks $200M treasury as token plunges 90%
In contrast, most of the top tokens on Four.Meme have seen increases during
the same period.
Approximately
70% of Four.Meme’s traders were profitable
as of Wednesday, according to data from Bubblemaps.
BubbleMaps
This renewed excitement has also strengthened BNB’s position in the market,
allowing it to
reclaim the third-largest cryptocurrency spot by market capitalization, surpassing XRP (XRP).
What Could Alter the Bullish Trajectory for FORM?
Despite the current upward momentum, the FORM chart also reveals a possible
bear flag pattern, defined by parallel rising trendlines following the 50%
drop in September.
Such patterns often precede a continuation of the prior downward trend if the
price falls below the lower boundary. A closing price below $1.28 could shift
market sentiment to bearish, potentially leading to a more significant
correction towards the $0.50–$0.60 range.
If this scenario unfolds, the bullish breakout towards $2 would be negated,
indicating that the recent rebound in FORM’s price may only be a temporary
recovery.
This article is intended for informational purposes only and does not
constitute financial advice. All investment decisions involve risk, and
readers are encouraged to conduct thorough research before making any
investment decisions.