SKI surges 25% on news of backing from a US lawmaker

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As a seasoned crypto investor who has weathered through the ups and downs of this rollercoaster ride, I must admit that I found myself pleasantly surprised by the meteoric rise of SKI following the news of Representative Michael Collins’ investment. Having learned from past experiences, I know better than to dismiss such events as mere coincidences, especially when it comes to meme coins like SKI.

The community-driven ethos and strong trading volume are clear indicators that this is not just a flash in the pan, but rather a sign of something more substantial brewing beneath the surface. The potential Binance listing adds fuel to the fire, as we all know that major exchange listings can catapult meme coins to new heights.

Given the current bullish sentiment and strong technical analysis pointing towards a potential breakout, I’m cautiously optimistic about SKI’s future prospects. However, as someone who has seen more than a few pump-and-dumps in my time, I’ll keep a close eye on this one to make sure it’s not just another flash in the pan.

Oh, and let me remind you all of an old saying: “Never invest more than you can afford to ski downhill without a parachute.” After all, even in the crypto world, sometimes it pays to have a sense of humor!

On December 2nd, there was a noticeable surge in the value of SKI, the digital currency associated with Ski Mask Dog, after news broke out about a U.S. legislator making an investment in this meme-based cryptocurrency.

On December 3rd, Ski Mask Dog (SKI) experienced a significant surge, rising by approximately 25%. This increase propelled the stock’s value to reach an intraday peak of $0.237. As a result, the market capitalization swelled from approximately $187 million the day before to exceed $235 million at the time of writing.

Constructed upon Coinbase’s Layer 2 blockchain, the SKI meme coin has garnered interest due to its robust and community-oriented ideology. In the past 24 hours alone, it has seen a trading volume exceeding $6 million.

Despite being left behind by its creator at first, SKI saw an incredible resurgence thanks to its dedicated fan base. This led to a notable increase in worth and prominence for the project.

Why did SKI rally today?

In response to the announcement that Representative Michael Collins, a Republican representative from Georgia, bought an extra $15,000 worth of SKI tokens (meme cryptocurrency), the price of SKI saw a surge in its value.

The first time in history a U.S Representative bought a memecoin not just once, BUT TWICE.

— Brian jung (@thebrianjung) January 2, 2025

As a crypto investor, I’ve noticed that meme coins like SKI can surge after being endorsed by well-known figures. This is because many retail investors tend to follow their lead, increasing demand once the token gains mainstream attention. In fact, I experienced this firsthand in December when Collin invested in SKI, which resulted in a 10% price increase for the meme coin.

As a crypto enthusiast with years of experience under my belt, I have witnessed numerous instances where social media posts by exchanges like Binance can spark significant speculation about potential listings. Recently, their X post featuring a man in a skiing suit checking charts on a ski lift caught my attention. Given the prevalence of the skiing meme within the crypto community, many interpreted this as a subtle nod to the meme coin SKI, causing a surge in community speculation about a potential Binance listing for this token. With my past experiences, I can say that such posts often indicate upcoming developments or listings on the exchange, so it’s an exciting time for SKI supporters!

Multitasking level: checking charts on the ski lift.

— Binance (@binance) January 2, 2025

Ski is now available on Binance Alpha, a segment within the Binance Wallet (previously known as Binance Web3 Wallet), which highlights coins that may be considered for future trading on the Binance Exchange.

On significant platforms like Binance or Coinbase, listings can significantly influence meme coins with modest market capitalizations, such as SKI. Frequently, these coins hit fresh record highs after such announcements.

Over 91% of the votes cast (a total of 13,800) on CoinMarketCap indicate a positive outlook for the meme coin SKI, suggesting continued price increases. Furthermore, the excitement surrounding this digital currency has led it to become a trending topic on Google in the United States.

As a researcher delving into the cryptocurrency market, I’ve noticed an optimistic forecast arising due to certain catalysts in play. Following the analysis of crypto expert TraderJohnny, it seems that SKI is primed for a breakout from a descending triangle pattern. Remarkably, a significant horizontal level provides robust support to the token.

As someone who has been closely watching the cryptocurrency market for years, I find it intriguing to observe the recent developments on the 1-day SKI/WETH chart. The steady volume accumulation and an Average Daily Range of 21.72% suggest a high level of sustained trading activity. This pattern is often indicative of significant market movements, which could potentially signal a bullish breakout. Given my past experience with similar patterns, I believe that this could be a promising opportunity for investors to consider entering the market and riding the potential wave of growth. However, it’s essential to remember that the cryptocurrency market can be highly volatile, so thorough research and risk management should always be employed when making investment decisions.

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2025-01-03 12:26