Uniswap Buys Pons Tokens Amid Price Rally
Uniswap has made a significant move by purchasing Pons tokens in an undisclosed deal. According to Uniswap, this purchase is for long-term alignment with the memecoin launchpad token and its rival on the Robinhood chain.
Pons has emerged as a leading memecoin launchpad on the Robinhood chain, routing tokens off its bonding curve to Uniswap V4 and rivaling Uniswap Labs' pools.trade launchpad launched last month. The PONS price has reached a record high above $0.6800 at press time.
Uniswap's own price is also on the rise, hovering around $6.30 as it extends a strong bullish phase. However, momentum remains overheated on the daily chart, with the Relative Strength Index (RSI) near 81 and the Moving Average Convergence Divergence (MACD) rising steadily above zero.
A breakout above the December 28 swing high at $6.5690 could mark a fresh annual high for Uniswap and potentially target the 127.2% Fibonacci extension level at $8.7227.