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Despite the extreme volatility in the broader market, new meme coins are gaining more traction and experiencing decent price pumps.
Among the new, low-cap meme coins that have continued to defy market odds is Test (TST)—a new Binance Smart Chain meme coin reportedly linked to Changpeng Zhao.
Since making its debut a couple of days ago, TST has seen repeated spikes, triggered by its connection with the former Binance CEO and its listing on the exchange’s spot trading department.
A now-deleted video tutorial cited by CZ, which shows how the token was deployed using Four.meme—the first-ever meme coin launch platform on the BNB chain—further added to the trading frenzy around TST.
While it cooled off after seeing almost 1100% gains in its first three days, TST is now seeing a dramatic surge again, jumping up by almost 200% on the daily chart to hit a peak price of $0.52.
Its market cap is also running up to $500 million, highlighting the excitement and speculative interest surrounding the token.
Can Test sustain this upward price action?
Is Test Meme Coin Truly Connected To CZ?
Following the launch of Test Token last week, an educational video was posted by the BNB team, highlighting how to develop a meme token on the Four.meme platform. TST was used as an example in the now-deleted video, which apparently exposed it to the broader investing community, especially the Chinese KOLs.
CZ made a comment on the video, citing a BNB chain team member whom he claimed said “we did the step by step video education for launching meme token on four.meme platform. In this video, we launched a token named TST as the example.”
The former Binance CEO further asked that the deleted video be reposted—a statement that further adds to the speculative trading frenzy around the token.
Test Token is described by CoinmarketCap as a project deployed by Binance on four.meme. The “About” section of the meme coin on the popular price-tracking website reads:
“Deployed by Binance. Say “Hello” to the latest member of the Binance Smart Chain Family, Test Token, deployed by Binance on four.meme!! Dev’s previous project hit 100b.”
This, alongside the viral video, has sparked rumors that Changpeng could be the brain behind Test. However, the Binance co-founder has vehemently denied having a connection with the meme coin and insisted neither he nor the BNB team holds it.
Despite the rebuttal, Test is gaining more ground and almost touched the $500 million market cap threshold before reversing to $283 million. That impressive performance has got many traders buzzing, with the likes of Altcoin Gold saying people no longer care about utility but the belief that riches await.
Meanwhile, the meme coin has already been listed on BingX and Binance, which could further boost its market demand and liquidity. More so, CoinMarketCap shows that the community’s sentiment continues to be bullish.
Is Test Token Poised For a Breakout To $1?
The 15-minute chart shows the TST/USD price trading in a rounding top pattern, currently at $0.2791. The price has slightly corrected from its recent ATH at $0.53, marking a 46% decrease as the bears attempt to outshine the bulls.
With $0.3071 acting as the next significant hurdle, a breakout could drive the price further, potentially reclaiming the recent ATH at $0.53. Conversely, failure to break above this level could result in a pullback toward the $0.2609 support level.
The TST/USD chart illustrates a slight fall in momentum, which may lead to further downside if the bulls fail to increase the buying pressure.
However, in spite of the slight retracement in price, the notable increase in trading volume suggests market participants are still optimistic about further price gains. The trading volume has gone ballistic, surging by over 500% to $1.14 billion, indicating heightened market activity.
The current price level of $0.2791 is approaching the next significant resistance levels at $0.36, $0.41, and $0.49. In the event that the bullish momentum persists and the price breaks above $0.49, the market could target even higher levels, possibly hitting the monumental $1 mark.
Test Meme Coin Price Prediction – Short Term
A closer look at the TST RSI indicates a massive reversal from the 70-overbought territory. It is currently at 40.54, which signals neutral-bullish momentum as sellers and buyers battle for market control.
Should the broader market regain its bullish strength and Bitcoin reclaim the $100k level once more, there could be renewed interest in Test meme coin, paving the way for further gains in the coming days. However, any weakness could trigger a pullback, with $0.26 acting as the first market sentiment test.
Test Meme Coin Price Prediction – Long-Term
It seems impossible to accurately forecast how the Test meme coin price will move in the long term. However, its heightened trading activity and astounding price growth has shown that the Binance Smart Chain is gradually growing in popularity among meme coin investors.
As investor appetite for meme coins on the network continues to increase—due to its launch of Four.meme—Test Token could gain even more attention, potentially pushing its market cap to $1 billion.
Already, Test, according to CZ, has created a Twitter account, meaning it is gearing up to form an active social media community. How it intends to achieve that is not known yet. However, in the event that it successfully builds a vibrant community and keeps them engaged, it will continue to stay relevant.
Besides, its arrival on Binance within days of launch is a big feat. If things like that continue, it may further broaden its accessibility among potential investors and propel its price to new heights.
That being said, Test’s lack of use cases means its price action will continue to remain volatile and may mirror the action of BNB.
Meme Index – A New Project Promoting Asset Diversification In The Volatile Meme Coin Space
There’s no doubt that Test has seen rapid growth within a short timeframe. However, since it is mostly driven by speculative interest, it could be vulnerable to sudden corrections, especially if the hype around it wanes.
This is why asset diversification is crucial in the meme coin space and the best way to do that is investing in a project that’s offering the first-ever decentralized meme coin index.
Meme Index’s core objective is to completely change how investors have long interacted with meme coins, allowing them to navigate the market in a way that aligns with their risk-taking propensity. The indices it has created are segmented into four, with each featuring tokens with different volatility levels.
At the top, there is the Meme Titan Index, containing high-cap meme coins. The second one is the Moonshot Index, featuring tokens that are close to hitting the $1 billion threshold.
The Midcap Index, which is the third on the list, is where the real volatility begins as it covers meme coins within $50 million to $250 million market cap. And finally, there is the Meme Frenzy Index, containing the highest-risk, highest-reward meme coins.
Unlike existing indices, Meme Index says members of the community will have complete control over how each of these indices is rebalanced.
The versatile nature of its index offerings has been commended by many publications, including Cointelegraph. Influential YouTubers like Alessandro De Crypto have also stated that the growing interest in meme coins could help MEMEX make an explosive start when it officially arrives in exchanges.
At the time of writing, the project has raised approximately $3.5 million in presale. Those willing to take advantage of the early-moving opportunity can visit the official website to join the presale and perhaps stake their tokens to further compound their gains.
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