MAMO plunged shortly after its Coinbase listing, ending a week-long rally that had seen the token soar over 120%.
Data from crypto.news shows that MAMO hit an all-time high of $0.227 on Thursday, Aug. 7, before retreating nearly 20% as selling pressure intensified. Despite the sharp dip, the token remains up more than 63% over the past week and has skyrocketed over 1,300% since its launch in May.
In the last 24 hours, MAMO’s trading volume spiked by more than 150%, suggesting a wave of profit-taking as traders looked to cash out following the token’s rapid rise ahead of its Coinbase debut.
Will MAMO price crash?
Initial sell-offs following an exchange listing are typical in the highly volatile crypto market, especially after a token reaches an all-time high, as early investors often look to lock in profits.
However, this downward pressure may be short-lived. Some bullish traders could view the recent dip as a buying opportunity, potentially leading to renewed accumulation at lower price levels.
At the time of writing, MAMO was trading above its intraday low of $0.171 and appeared to be recovering some of its earlier losses.
Several bullish signals now suggest a possible near-term reversal.
Notably, MAMO has secured two exchange listings within the past week. Its addition to Coinbase has boosted the token’s credibility among U.S. investors, while last week’s CoinEx listing has improved global accessibility.
Listings on major platforms often enhance retail participation, deepen market liquidity, and bolster investor confidence — particularly in the U.S., where regulatory compliance and brand trust play a crucial role.
Secondly, on-chain data from Nansen indicates continued whale accumulation. Over the past seven days, wallets identified as large holders have increased their MAMO holdings by 16.5%, pushing total whale-controlled supply to 2.41 million tokens. This accumulation trend signals that high-net-worth investors are anticipating further gains and are strategically positioning themselves for potential upside.
Third, MAMO’s exchange supply has dropped by 10.5% over the past week, falling to 27.7 million tokens. This decline suggests that traders are shifting tokens into long-term storage, reducing sell-side liquidity on exchanges.
Lower exchange balances, combined with increasing demand, often lead to upward price pressure—bolstering the outlook for a potential rebound.
If positive sentiment persists and market liquidity continues to improve, MAMO could be poised to challenge and possibly break above its recent all-time high.
MAMO price analysis
On the daily chart, MAMO is still trading above both its 20-day and 50-day simple moving averages — a bullish technical indicator that supports the continuation of its current uptrend. These moving averages often act as dynamic support levels, and holding above them signals that upward momentum remains strong.
The MACD indicator further supports the bullish outlook, as the MACD line has crossed above the signal line, accompanied by widening green histogram bars. This crossover is a classic signal of strengthening upward momentum and indicates that buying pressure could persist in the near term.
The Relative Strength Index (RSI), a key indicator for identifying overbought or oversold conditions, has eased to 64 after briefly exceeding the overbought threshold of 70 in the previous session. The current downward slope in the RSI suggests a cooling in momentum, though it still sits in neutral-to-bullish territory.
At the time of writing, MAMO is hovering near the 78.6% Fibonacci retracement level, measured from its recent high to the local swing low. A successful bounce from this level could turn it into a new support zone, potentially encouraging bullish traders to re-enter the market and target a retest of the all-time high.
If the token breaks above this resistance, it could enter price discovery mode, with the next psychological target likely around $0.25.
On the flip side, a drop below the 61.8% Fibonacci retracement level would weaken the bullish case. Such a breakdown could trigger further selling pressure, possibly driving MAMO down toward the $0.10 psychological support zone—particularly if broader market sentiment deteriorates.
