While the broader crypto market struggled to find direction in April, VIRTUAL bucked the trend to record significant gains. The altcoin has soared 183% over the past month, standing out as one of the few tokens to record substantial gains in an otherwise lackluster market.
VIRTUAL is up 22% in the past 24 hours, making it the top-performing crypto asset today. It is poised to continue its rally, especially as institutional interest grows.
Smart Money Fuels VIRTUAL’s Rally
VIRTUAL initiated its uptrend on April 22 and has consistently marked new daily price highs since then. As its price climbs, there has been a corresponding rise in its Smart Money Index (SMI), which currently stands at 3.07.
The SMI indicator tracks the trading activity of institutional investors, often referred to as the “smart money.” It analyzes intraday price movements, focusing on the first and last trading hours.
When the SMI rises with an asset’s price, major investors are accumulating positions, reflecting growing confidence in the asset’s upward momentum. The current uptick in VIRTUAL’s SMI suggests that institutional players are actively accumulating the token, likely positioning for further gains.
Further supporting the bullish outlook is the token’s rising Chaikin Money Flow (CMF). As of this writing, this momentum indicator stands at 0.25 and remains in an upward trend.
The CMF indicator measures money flow into and out of an asset. A rising CMF like this reflects increased capital inflows and positive sentiment among traders.
Therefore, VIRTUAL’s CMF reading reinforces its price surge and hints at the potential for a continued rally in the short term.
VIRTUAL’s Price Action Hints at Further Upside
VIRTUAL’s triple-digit rally since April 22 has caused it to trade within an ascending parallel channel. This pattern is formed when an asset’s price consistently makes higher highs and higher lows, moving within two upward-sloping, parallel trendlines.
It signals a bullish trend, suggesting that the asset’s price may continue rising as long as it stays within the channel. If demand strengthens and VIRTUAL climbs, remaining within the channel, it could trade at $2.26.
However, a resurgence in profit-taking activity will prevent this bullish projection. If selloffs begin, the VIRTUAL token could lose recent gains, break below $1.55, and fall toward $0.96.
BeInCrypto sat down with members of the LBank team to analyze the possible resurgence of the meme coin market as a leading crypto narrative and what their fusion with artificial intelligence (AI) can have on their reach.
LBank also discussed the impact of the four-month-old Markets in Crypto-Assets (MiCA) regulation on its operations across Europe. They described a fundamental change in investor confidence in light of greater regulatory clarity and simplified accessibility.
Have Meme Coin Highs Given Way to Devastating Lows?
In recent years, the meme coin market has largely been characterized by overwhelming highs and devastating lows. The first few months of 2025 have further confirmed the volatile nature of these tokens, to the point that a vocal part of the crypto community believes that their recent lows have marked the end of the meme coin lifecycle.
These claims are not unfounded, especially now that the US President has become a meme coin player. When Trump launched his meme coin in mid-January, TRUMP reached a market capitalization of nearly $8.8 billion, a number never before seen by a meme coin launch.
When insider traders capitalized on the surge to sell off their holdings and retain millions of dollars in gains, retail investors bore the brunt of the massive sell-off, suffering hundreds of thousands of dollars in losses.
“The decline in meme coin market cap since January can be attributed to a combination of market dynamics and sentiment shifts. A key driver was the rapid rise and subsequent crash of the TRUMP token, which drew significant market capital due to its viral appeal but collapsed sharply, eroding investor confidence and triggering a broader risk-off sentiment,” Eric He, Community Angel Officer and Risk Control Adviser at LBank told BeInCrypto.
After similar experiences with the MELANIA token and the LIBRA launch, some of these retail investors realized that meme coins —as unregulated and unpredictable as they are— may not be the best investments.
Is the Meme Coin Frenzy Coming to a Halt?
Given the devastating effects that these episodes have had on the meme coin market, trading has reduced significantly. The crypto community seems to have become saturated with news of pump-and-dump schemes and rug pulls, likely contributing to a halt in the meme coin frenzy.
The total meme coin market capitalization has been free-falling since January’s peak following the presidential token launches. Now, its levels resemble those of September 2024. The greater economic downturn that traditional and crypto markets experienced over the past several weeks has only worsened prospects.
Yet, despite this downward pressure, the market still experiences a high level of activity. It has a $14.5 billion trading volume and a $57 billion market capitalization.
Total meme coin market capitalization. Source: CoinGecko.
According to the LBank team, the meme coin industry is due for a revival.
LBank’s Belief in the Revival of the Meme Coin Market
Though the decline in meme coin performance has been significant, the LBank team expressed that these circumstances are far from unexpected. Meme coins are inherently tied to community support and social momentum.
The sustained trading volumes and large market capitalization serve as tangible indicators that, even in a downturn, the market is seeing active community engagement and liquidity. Investors still see value in the tokens’ cultural and speculative appeal.
“We see it as a healthy market correction rather than a fundamental shift. Meme coins have always been volatile, but the fact that trading volumes remain high shows continued interest. What’s happening now is not the end of the trend—it’s just a recalibration before the next wave,” Mario Iemma, Head of Spanish Markets at LBank, told BeInCrypto.
In fact, Iemma believes that meme coins will not be dying out anytime soon.
AI agents represented the first significant shift in the evolution of the cryptocurrency industry. These autonomous systems proved that they could make decisions and perform tasks independently. This technology enhances intelligence, adaptability, and fairness in financial mechanisms.
Now, developers have unlocked artificial intelligence’s potential on tokens. Systems like Grok have already made news by using AI to automatically and independently design and launch tokens.
However, with a nascent technology like AI, the LBank team emphasized the need for responsible and thorough deployment for the long-lasting success of AI-generated tokens. This success hinges on two particular factors: accessibility and security.
Security and Accessibility Challenges for AI-Generated Tokens
The concept of security is frequently associated with any emerging technology. Artificial intelligence is no exception, especially in a particularly unregulated industry like crypto.
According to He, AI-generated token projects’ degree of security and transparency will determine their success.
Iemma agreed, adding that if AI-generative tokens become widely accessible, this development will also require additional layers of oversight.
“That same accessibility demands better filters, vetting, and AI-based security audits—areas where exchanges like LBank are already investing resources,” he said.
While reflecting on the security risks associated with artificial intelligence and the breaches in consumer trust that meme coins have had on the crypto community, the LBank team also emphasized the need for greater regulation in the industry.
The development of cryptocurrency regulations varies significantly across the globe. Notably, the European Union implemented comprehensive rules almost five months ago, while key markets such as the United States are still establishing adequate frameworks.
MiCA’s Effect on the European Crypto Market
Last December, with the implementation of the Markets in Crypto-Assets (MiCA) regulation, the European Union became the first jurisdiction to establish a comprehensive and unified regulatory framework for crypto-assets across all its member states, marking a significant milestone.
According to the LBank team, MiCA gives users and institutions a trustworthy framework. This development has proven critical for industry growth across the region.
“MiCA has forced firms to become more transparent and compliant, which is a good thing for long-term trust. We’ve seen exchanges accelerate their legal and operational upgrades. For users, it creates a safer, more predictable environment,” Iemma said, adding, “With clearer rules, banks and investment firms are more willing to explore crypto partnerships, custody solutions, and even tokenized assets. Regulation reduces reputational risk, and MiCA is helping bridge that gap.”
However, this experience can be largely attributed to established firms in the industry and investors with access to substantial resources. Other players, however, have struggled to gather the requirements to apply for a MiCA license.
Future Accommodation for Smaller Crypto Businesses
In discussing the impact of MiCA since its enactment last December, He highlighted how different industry players have responded to the landmark regulation. He noted that startups struggle the most to obtain an operational license.
When evaluating the cost-effectiveness of an operational license, He’s conclusions make sense.
MiCA is an expensive regulation. It mandates minimum capital requirements based on the crypto services offered. These requirements range from €50,000 for advisory and order-related services to €125,000 for exchange and trading platforms and up to €150,000 for custody services. Businesses must maintain this capital as a financial safeguard.
Beyond minimum capital requirements, companies must factor in government and legal fees, local presence costs, bank setups, and ongoing operational costs. But for prominent exchanges like LBank, the benefits outweigh the costs.
Future MiCA updates could address the high compliance costs for smaller businesses. Meanwhile, other regions developing their crypto regulations should consider this aspect to avoid creating similar barriers.
Made in USA coins have delivered a mixed performance in the first week of May, with PENGU, SUI, and RENDER showing very different trajectories. PENGU surged by 107% over the past week, signaling a strong recovery after months of correction.
SUI also impressed, jumping 70% and positioning itself among the largest Made in USA coins. Meanwhile, RENDER struggled to gain traction, underperforming both the broader market and the leading AI coins.
Pudgy Penguins (PENGU)
PENGU was once the leading meme coin on Solana, reaching a peak market cap of $2.9 billion on January 6.
However, after its explosive rise, the token entered a prolonged correction phase, with its market cap falling below the $1 billion mark by January 29.
Since then, PENGU has struggled to regain its previous momentum, reflecting broader cooling interest in meme coins during that period.
Despite the correction, recent price action suggests that sentiment around PENGU may be shifting again.
Over the past seven days, PENGU has surged by 107%, including a gain of more than 16% in just the last 24 hours. PENGU could soon test the $0.011 resistance level if this strong momentum continues.
A break above this point could open the path toward $0.0126, and if bullish pressure remains strong, further targets at $0.0171 and even $0.0223 could come into play — breaking above the $0.020 mark for the first time since January 27.
SUI
SUI has been one of the standout performers among altcoins over the past week, surging 70% and positioning itself just behind Cardano, Solana, and XRP in market cap among the major Made in USA coins.
With such a powerful move quickly, SUI is approaching critical technical levels that could determine whether the rally continues or faces a pullback.
Recently, SUI tested the resistance at $3.73 but failed to break through it. If it manages to test this level again and successfully break above it, the next target would be $4.25, which would also mark SUI’s first time trading above $4 since January 31.
However, if bullish momentum fades, SUI could retrace to test the $3.25 support zone.
Losing this support could lead to a deeper correction toward $2.92 or even $2.51, making the coming price action especially important for assessing whether SUI’s rally can extend further.
RENDER
RENDER has been lagging behind the broader market, posting only a 2% gain over the last seven days, far less than most other major Made in USA coins.
It has also underperformed relative to the top AI-focused tokens, such as TAO, FET, and VIRTUAL, which have shown much stronger momentum.
This lackluster performance suggests that while artificial intelligence narratives continue to gain traction, RENDER has struggled to capture the same level of enthusiasm, raising concerns about its near-term outlook compared to its peers.
Technically, RENDER’s EMA lines are signaling potential weakness, with the possibility of a death cross forming soon.
If the downtrend materializes, RENDER could first test support at $4.25; losing that level could open the door for deeper drops to $3.82, $3.55, and even $3.14.
However, if RENDER manages to regain positive momentum, a rebound toward $4.63 could still be in play.
Solana-based meme coin FARTCOIN has emerged as the top-performing cryptocurrency in the market today, surging by 19% over the past 24 hours.
It trades at its highest level since January 30, marking a 12-week peak. With buying activity still underway, the meme coin seeks to extend its rally in the short term.
FARTCOIN Buyers Tighten Their Grip
On the FARTCOIN/USD daily chart, bullish momentum continues to build. The token’s positive Balance of Power (BoP) indicator reflects a strong dominance of buyers in the market. At press time, this is at 0.69.
The BoP indicator measures the strength of buyers versus sellers in the market. When its value is positive, buyers are dominating and exerting more pressure than sellers.
Therefore, FARTCOIN’s rising positive BoP suggests increasing demand and the potential for continued upward price movement.
Furthermore, the bars forming FARTCOIN’s Elder-Ray Index have steadily increased in size over the past few days, highlighting a consistent rise in bullish pressure.
The Elder-Ray Index measures the strength of buyers (bull power) and sellers (bear power) by comparing an asset’s high and low prices to its exponential moving average (EMA). When its value is positive, bull power is dominant.
This growth suggests that FARTCOIN’s buyers are gaining greater control of the market, pushing prices higher with each passing session.
FARTCOIN Eyes Breakout
As of this writing, FARTCOIN trades at $1.06, just below the major resistance level of $1.16. If demand strengthens and the meme coin manages to flip this price level into a support floor, its rally would gain momentum, potentially pushing the price toward $1.46.
