$MMT Token Soars by 77% as Trading Volume Explodes on Binance

Momentum's native $MMT token has surged by over 77% in the last 24 hours, pushing its price to around $0.35. The sudden rally is being driven by a massive surge in trading volume on Binance, which reached nearly $218 million, marking a 1,230.05% jump.

This is significant compared to $MMT's market cap of roughly $68 million, suggesting that fresh capital is entering the token. The strong liquidation of short positions is also adding fuel to the rally, with over $5.94 million in short liquidations compared to just $954.9K in long liquidations.

Top traders are positioning for further upside, with a Binance top trader position ratio above 1.44. However, the token is already deeply overbought after gaining more than 150% in the past 60 days.