HEMI’s explosive run shows no signs of stopping | Credit: Hameem Sarwar
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Key Takeaways
HEMI’s price surged nearly 500% since its Aug. 22 TGE before pulling back
Trading volume skyrocketed to $893 million from $20 million in ten days.
HEMI is holding above its 20 EMA, suggesting it could break the $0.12 resistance.
HEMI, the utility token powering the Bitcoin programmable layer Hemi, has been on a tear. Over the past 30 days, HEMI’s price has soared nearly 500%.
As a result, it set a new all-time high at $0.12. Today, the token is trading about 16% below that peak.
However, signs have emerged that the explosive rally may not be over.
In this analysis, CCN explains the drivers behind HEMI’s surge and why its price could bounce again.
Hemi Mirrors Aster’s Run
For those unfamiliar, Hemi had raised $15 million to accelerate development for its Bitcoin programmability network. Eventually, the Token Generation Event (TGE) went live on Aug. 22.
Since then, HEMI’s price has increased by 489%. According to CCN’s findings, the rally tied directly to the hype around tokens listed on Binance Alpha and those backed by Yzi Labs (formerly Binance Labs).
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Like HEMI, ASTER is backed by Yzi Labs. Thus, some market participants expect the explosive ASTER move to spill over, sparking more speculation and drawing fresh liquidity into HEMI.
Pullback Looks Temporary
From an on-chain perspective, the altcoin’s trading volume has soared to $893 million. About ten days ago, the same metric was less than $20 million.
This massive spike shows how quickly liquidity has rushed into the token. While HEMI’s price may have dipped, it’s already bouncing from swing lows.
Therefore, if the trading volume pushes past $1 billion and the market value keeps climbing, the momentum could flip fast. In that case, HEMI might ignite a renewed rally.
HEMI Price Finds Support
From a technical perspective, the 4-hour chart shows HEMI’s price trading above the 20-period Exponential Moving Average (EMA).
This signals that short-term momentum remains bullish, making it less likely for the token to break below the $0.081 support.
In addition, Bull-Bear Power (BBP) has stayed positive despite the recent dip. This suggests that HEMI buyers are still in control, and selling pressure hasn’t been strong enough to switch momentum to bearish territory.
When a token holds above key EMAs while BBP remains green, it points to accumulation phases, where dips are bought rather than sold off. For HEMI, this strengthens the case for stability above support and increases the probability of another leg upward if demand continues to build.
If momentum holds, HEMI’s price could break above resistance at $0.12. A successful breakout may allow for a rally toward $0.19, extending its explosive run.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
