BitMEX Founder Backs Smoking Hen Fish (SCF) Memecoin Regardless of Worth Dip

• BitMEX co-founder Arthur Hayes introduced help for Smoking Hen Fish (SCF).
• SCF crashed an enormous 5.33% up to now 24 hours. 
• SCF is down 63.19% from the ATH which was witnessed not way back at $0.1463.

Smoking Hen Fish (SCF) memecoin obtained backing from Arthur Hayes, co-founder of the crypto derivatives buying and selling platform BitMEX. Regardless of this, the cryptocurrency has dropped 5.33% up to now 24 hours.

In accordance with the information from CoinMarketCap, SCF is buying and selling at $0.05427, with a market capitalization of $53.85 million and a buying and selling quantity of $5.68 million. The cryptocurrency’s all-time excessive occurred 18 days in the past, when SCF reached $0.1463. The memecoin is presently down 63.19% from its all-time excessive.

Hayes expressed his help for the undertaking on X, greeting his followers with “cowabunga.” The cryptocurrency has been bearish up to now 24 hours, however Hayes’ help may push the value greater within the brief time period.

It is very important be aware that SCF has fallen 17.75% up to now seven days and 31.74% within the final 30 days. The digital asset is down 4.83% since September and 44.6% up to now 14 days.

SCF Technical Evaluation

An evaluation of the SCF worth trajectory exhibits that the memecoin is dealing with resistance round $0.071. To succeed in a brand new all-time excessive, the altcoin wants to interrupt by this worth stage.

Learn additionally: Arthur Hayes: China’s Quantitative Easing Will Set off a Bitcoin Worth Surge

The Relative Power Index (RSI) for SCF reads a price of 42.61 which implies that the bears are answerable for the meme coin’s worth motion and the possibilities of greater highs within the close to future are appreciable if patrons take management following Hayes’ help.