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Koma Inu (KOMA), dubbed as the son of Shib and protector of BNB, is showing signs of another potential rally, following a significant pullback after it reached a new all-time high (ATH) on December 11.
With the formation of an inverted hammer and hammer candlesticks signalling a bullish trend reversal, Koma Inu may be poised for a new ATH, particularly with support from DWF Labs and prominent exchange listings.
Prior to the current bullish reversal, Koma Inu witnessed a significant rally on December 11 fueled by its selection as the first recipient of DWF Labs’ $20 million Meme Fund.
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DWF Labs, a renowned crypto venture capital firm, has a history of supporting meme coin projects, and its backing has provided Koma Inu with the financial resources and strategic guidance necessary to expand its market reach.
Furthermore, Koma Inu has secured listings on major centralized exchanges (CEXs) such as Binance, Bybit, Phemex, SpuerEX, XT, and Bitget.
These exchanges, with a combined daily trading volume exceeding $46 billion, have given the meme coin exposure to a wider investor base, contributing to its price surge.
Additionally, Koma Inu’s inclusion in KuCoin’s GemVote event further boosts its chances of being listed on one of the world’s leading exchanges.
The support from these high-profile platforms combined with the ongoing token burn is responsible for fueling Koma Inu’s recent gains, positioning it for increasing its long-term potential.
After the pullback following its ATH, the coin has shown a clear bullish reversal pattern on the daily chart.
The formation of an inverted hammer candlestick, indicating market indecision with the potential for a shift in momentum to the upside, marked the beginning of this bullish trend reversal.
The confirmation of the trend reversal came shortly after with the appearance of a hammer candlestick, solidifying the bullish sentiment in the market.
With these key technical formations in play, Koma Inu appears well-positioned for further upward movement.
Investors and traders are closely monitoring the price action, as a continuation of this bullish trend could result in the meme coin reaching a new ATH.
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