Mubarak, a meme coin newly announced on the Binance Chain, is making waves in the crypto world with its explosive growth. With just two days after launch on March 16, the market cap hit over $200 million. Over the past 24 hours, the coin has risen 41%, thanks to strong investor demand as well as a growing narrative regarding Binance being involved.
Some serious profits have been made from the newly released meme coin, on the BNB Chain, according to blockchain analytics platform LookonChain. A trader who invested at the price of just 0.4 BNB ($232) invested into a staggering $1.1 million profit—an astounding 4,860x gain.
At first, the trader paid $232 for 10.5 million $MUBARAK tokens he then sold a part of them for 576 BNB, or $363,500 USD, at the current position the trader still holds 5.16 million tokens, which is worth about $764,000 USD, on 3 different wallets.
But will the memecoin have the will to sustain this rally or is it just another hype-cycle?
At one end of the scale, all of this is due to Binance’s implicit support. Reports suggest that Binance chief executive Changpeng Zhao (CZ) invested at least $600 into the token. Additionally, Binance recently launched a perpetual contract which adds more credibility and trading volume.
This support has inspired renewed market interest and analysts have been suggesting $MUBARAK could be a breakout meme coin. Crypto analyst Thanos said it’s a “no-brainer” investment given the coin's speedy adoption and positive technical patterns.
Today the price is trading at $0.18500 with key resistance at $0.20000 and key support at $0.16000. The price action has formed a downward-trending bullish flag pattern which could be a sign of a breakout if there is more buying pressure.
RSI Indicator: 47.85 implies a neutral market environment between buyers and sellers.
MACD Signal: Just a little bit bearish, but it could be pushed higher with a crossover.
Key Breakout Levels: IF the memecoin breaks the resistance of $0.20000 we might see an uptrend to $0.22000–$0.24000.
Downside Risks: If resistance doesn’t break, we could see further consolidation or a retest of the $0.16000 support level.
Source: TradingView
With strong support from Changpeng Zhao and a pretty high trading volume, $MUBARAK looks like it's ready for some speculative play in the meme coin market. Obviously, this is a risky play, as meme coins are inherently volatile. But with the current consolidation stage ending, with a breakout above $0. 20000, the token looks pretty decent. You should be keeping an eye out for spikes in volume and big resistance levels to see what's next.
Also read: Pi Coin Price Prediction: Will It Drop Below $1 or Rebound Soon
Copyright © 2025 Coin Gabbar. All Rights Reserved.
