MERL (Merlin Chain) rose 9.98% in 24 hours.

Gate News Bot news, September 24, according to CoinMarketCap data, as of the time of writing, MERL (Merlin Chain) is currently priced at $0.31, with a 9.98% rise in the last 24 hours, reaching a high of $0.38 and a low of $0.17. The current market capitalization is approximately $307 million, an increase of $27.78 million compared to yesterday.

Important news about MERL recently:

1️⃣ Market heat significantly increases MERL's popularity ranking has surged to 3rd place in the past 24 hours, with a price rise of 31.99% to $0.25. This surge in popularity reflects strong investor interest in the Merlin Chain project, which may be one of the key factors driving the recent price increase.

2️⃣ Large capital flow signs Recently, large wallet addresses have transferred a significant amount of MERL tokens out of exchanges, totaling approximately 98.24 million tokens, worth about 14.9 million USD. This flow of funds may indicate that some large investors are engaging in long-term holding or locking operations, which has reduced the market circulation supply and potentially supported the token price.

3️⃣ Market Liquidity Changes A large number of MERL tokens leaving the exchange may lead to a short-term contraction in market liquidity. In this case, smaller scale buying could quickly pump the price, which partly explains the recent significant rise in MERL.

From a technical perspective, the price of MERL has further risen from $0.29 on the 22nd to $0.31, continuing its strong upward momentum. However, investors should be wary of potential short-term profit-taking pressure and closely monitor whether the price can maintain its current level to confirm the sustainability of the upward trend.

This message is not an investment advice; investors should be aware of market volatility risks.