MegaETH token sale oversubscribed by 8.9x with $450M committed

💡 DMK Insight

MegaETH’s hype could be a double-edged sword for traders right now. With ETH currently at $4,109.49, the promise of a faster blockchain might attract speculative buying, but it’s crucial to remember that hype often leads to volatility. If traders jump in without solid fundamentals backing MegaETH, we could see a sharp correction once the initial excitement fades. Keep an eye on the broader ETH market; if it starts to falter, MegaETH could be dragged down with it. On the flip side, if MegaETH can deliver on its promises, it might carve out a niche that could support ETH’s price. Watch for key resistance levels around $4,200 and support near $4,000. If ETH breaks below that support, it could signal a broader market pullback, impacting MegaETH’s momentum significantly.