🌎 SKI Token Surges 25% After US Lawmaker Buys In

Meme Coin SKI Sees 25% Surge After US Lawmaker Invests

SKI, the native token of Ski Mask Dog, experienced a significant price rally on December 2, following reports that a United States lawmaker had invested in the meme coin.

SKI soared 25% to an intra-day high of $0.237 on December 3, bringing its market cap up from around $187 million recorded the previous day to over $235 million. Built on Base, Coinbase’s Layer 2 blockchain, the SKI meme coin has captured attention for its strong community-driven ethos, boasting over $6 million in trading volume within the last 24 hours.

Why Did SKI Rally?

SKI’s recent rally followed news that Representative Michael Collins, a Republican from Georgia, increased his exposure to SKI tokens by acquiring an additional $15,000 worth of the meme token as part of his latest investment in the sector. This move marked the first time a US Representative had invested in a meme coin twice.

The first time in history a U.S Representative bought a memecoin not just once, BUT TWICE.

Meme coins like SKI often rally after endorsements from high-profile figures, as retail investors tend to follow their lead, driving demand once the token captures mainstream attention. A similar rally transpired in December following Collins’ previous investment in SKI, which led to a 10% jump in the meme coin’s price.

Potential Binance Listing and Community Sentiment

Community speculation about a potential Binance listing for SKI also surged after Binance’s recent X post featured a man in a skiing suit checking charts on a ski lift, which many interpreted as a subtle nod to the meme coin. SKI has already made its way onto Binance Alpha—a platform within Binance Wallet that showcases tokens potentially under consideration for future listings on the Binance Exchange.

Listings on major exchanges like Binance or Coinbase often have a major impact on meme coins with small market caps, such as SKI, with many of them reaching new all-time highs following such news. Community sentiment around the meme coin remains largely bullish, with 91% of 13.8k votes predicting a further rally in SKI’s price, according to data from CoinMarketCap.

Crypto Analyst Predictions

According to crypto analyst TraderJohnny, SKI appears set to break out of a descending triangle pattern, with strong support holding at a key horizontal level. He pointed to steady volume accumulation and an Average Daily Range of 21.72% on the 1-day SKI/WETH chart, which is typically a sign of sustained trading activity, strengthening the case for a potential bullish breakout.

As the hype surrounding SKI continues to grow, investors are advised to stay informed and consider the following tips: