UNI price fell for a few trading sessions to find support in the demand zone.
Uniswap records increased users as Pepe Mania captures the meme coin market.
Uniswap, a decentralized crypto exchange, witnessed a hike in its transaction count on the exchange due to memecoin frenzy. The reason for the buzz is mostly due to increasing popularity of memecoins, especially Pepe Mania. The launch of the memecoin brought a huge increase to the exchange, which was 66% more than the previous peak. The active users on the exchange increased by 28.3% in the past 7 days, with a drop of 13% in UNI price. The decline in trade size and prices could be the reason for the decrease in fees and revenue collected.
The Picturesque
Source: UNI/USDT by TradingView
UNI price marked a fall of more than 14% for three consecutive days. The falling prices found support at $5.430, near the demand zone. A minimal buyer activity is predicted to occur near the demand zone. The Bollinger Bands diverge wide to match the
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