The Mubarakah meme coin surged by 105% just before Eid Al-Fitr, amid rumors of involvement from former Binance CEO Changpeng Zhao (CZ) and the growing popularity of BSC meme tokens.
Despite significant gains, high Relative Strength Index (RSI) signals suggest that Mubarakah may be overbought, raising concerns of a potential price correction.
The rally of Mubarakah is linked to various speculative factors like rumors of a CZ connection, social signals, and the upcoming Eid Al-Fitr holiday period.
BSC meme coins, including Mubarakah, are on the rise due to low fees, fast transactions, and community enthusiasm, with the sector holding a market cap of $18.63 billion and top tokens like Dogecoin, Floki Inu, and others gaining traction.