Magic Eden $ME
is the native token of the **Magic Eden NFT marketplace**, originally built on **Solana** and now expanded to **Ethereum, Bitcoin Ordinals, Polygon, and others**.
Fundamentals
* ME is used for **governance, rewards, staking, and ecosystem incentives**.
* Its value is closely tied to:
* **NFT market activity**
* **Trading volume on Magic Eden**
* Expansion into **Bitcoin Ordinals & cross-chain NFTs**
* During strong NFT hype cycles, ME tends to outperform.
* Weak NFT demand usually puts pressure on price.
Technical Behavior (General)
* ME is **highly volatile** and momentum-driven.
* Strong moves often follow:
* NFT market rallies
* Major platform announcements
* Liquidity is improving, but it still reacts sharply to market sentiment.
* Correlated with **SOL and ETH trends**, plus overall altcoin momentum.
Risk Profile
⚠️ **High risk / high reward**
Best suited for traders who understand NFT market cycles rather than long-term passive holding.
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