Elon Musk-inspired memecoin No Meme Token (NOMEME) is approaching a long-term support level.
NOMEME was last trading just above $0.00011, slightly to the north of its initial listing price on Uniswap of $0.00010 five days ago.
No Meme Token was launched in the wake of a tweet by Twitter, Tesla and SpaceX CEO Elon Musk, who shared a picture of a Milady Maker with the caption “There Is No Meme” and “I Love You” on Wednesday.
Milady Maker is a popular non-fungible token (NFT) collection on OpenSea and Musk’s tweet prompted an immediate pump in the collections price floor.
It pumped as much as 10x versus its listing price on Uniswap in the first few hours, but has since come under significant sell pressure and is around 90% down from last week’s highs.
But some observers still think that the meme coin could still pump.
Buying NOMEME is easy via the project’s simplistic website, which features a Uniswap embed.
All a user needs to do it connect their web3 wallet to the Uniswap plugin and they can begin buying NOMEME immediately.
Are Exchange Listings on the Way?
Early NOMEME investors are hoping that the cryptocurrency can follow in the footsteps of other memecoins like $SPONGE, which managed to secure listings across a number of major centralized cryptocurrency exchanges.
$SPONGE recently secured listings on Gate.io and Bitget, both top 15 exchanges by trading volumes.
While it remains far from certain as to whether No Meme Token will secure a major exchange listing, if it did, that would surely be a big boost for the token.
An exchange listing would introduce the cryptocurrency to a brand new audience of potential buyers and would likely pump its price.
$NOMEME could easily 10x from current levels to retest its all-time highs close to $0.0010.