BNB-based meme coin PALU has surged in popularity following its listing on Binance earlier today. The announcement sparked a wave of buying pressure that propelled the token to an all-time high.
With technical indicators showing sustained bullish momentum, PALU could be on track to hit fresh record levels in the coming days.
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PALU Hits Record High After CZ’s Nod
BeInCrypto reported earlier today that PALU, a community-driven meme mascot token, has gained a listing on Binance. The token initially drew traction after Binance founder Changpeng Zhao (CZ) reposted fan artwork featuring a CZ-themed PALU mascot.
These developments have sparked a surge in PALU’s trading activity, pushing it to an all-time high of $0.0956 earlier today.
On X (formerly Twitter), analysts have been actively sharing posts about PALU’s explosive rise. One notable post from user Chinapumprocket suggested that the token’s rapid ascent is partly driven by whale accumulation.
“Whales are in! They’re knowing something???” the X user quizzed.
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Meme Coin PALU Flashes Bullish Signals
On the daily chart, the meme asset trades above its 20-day Exponential Moving Average (EMA), a signal of ongoing demand and positive price momentum. At press time, this key momentum forms dynamic support below the PALU’s price at $0.0066.
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The 20-day EMA measures an asset’s average price over the past 20 trading days, giving more weight to recent prices.
When a token trades above this threshold, it indicates bullish sentiment, as buyers are consistently stepping in to sustain upward pressure.
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For PALU, maintaining its position above the 20-day EMA confirms that momentum remains on the buyers’ side. If this structure holds, PALU could extend its gains.
Moreover, the setup of the meme coin’s Moving Average Convergence Divergence (MACD) indicator confirms the strengthening bullish bias.
At press time, PALU’s MACD line (blue) rests above the signal line (orange), while the green histogram bars have grown in size — a sign that buying activity is increasing.
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The MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines.
As with the meme coin, when the MACD line rests above the signal line, it signals declining selling pressure and growing buy-side strength.
Is PALU Running Out of Steam or Gearing for Another Breakout?
Historically, rapid price spikes following major listings are often followed by short-term retracements. But if PALU maintains its current trend, it could breach its immediate resistance at $0.0751 and revisit its peak.
However, the risk of profit-taking remains. In this scenario, PALU’s price could shed recent gains and tumble to $0.0591.
