Hachiko Price Surges 1,114% Following First CEX Listing

As of writing, Hachiko (HACHI), a meme coin inspired by the legendary loyal dog—Hachi, surged 1,114% over the past 24 hours, now trading at $0.002216, while trading volume jumped by 304%. This remarkable rise follows the token's debut on a centralized exchange (CEX).

Hachiko's Strong Upward Momentum

The price chart for Hachiko shows a clear and powerful upward trend. Prices shot up from $0.00017 to the current level. Increasing trading volumes indicate more buyers entering the market, driving momentum. 

Currently, HACHI trades above the 50-day Simple Moving Average (SMA), signaling bullish sentiment. Analysts believe this upward movement may continue if the trend remains strong. Technical indicators support this optimistic outlook. 

The Relative Strength Index (RSI) sits at 72.76, exceeding the typical overbought line of 70. While this might suggest a pullback, strong rallies often maintain elevated RSI levels. Additionally, the Moving Average Convergence Divergence (MACD) chart displays a bullish crossover. 

Will Hachiko Prices Continue to Soar?

Short-term analysis of HACHI/USD reveals a sustained bullish trend. Strong momentum favors further gains, backed by the solid MACD crossover and rising prices. 

Bulls now target the $0.0031 mark, a crucial resistance point that could test Hachiko's strength. If buying pressure remains, breaking this barrier might lead to new highs. However, traders should exercise caution.

The high RSI level indicates HACHI may be overbought, suggesting a potential correction or consolidation phase. A drop could pull prices back to the $0.00118 support zone, allowing for a more stable climb afterward.