On December 2, Ski Mask Dog’s native token, SKI, experienced a significant surge following news of investment from a U.S. lawmaker. The token rose by 25%, reaching an intra-day high of $0.237 on December 3 and increasing its market cap from $187 million to over $235 million. Built on Coinbase’s Layer 2 blockchain, Base, SKI has garnered attention for its strong community-driven approach, achieving a trading volume of over $6 million in the last 24 hours.
Representative Michael Collins, a Republican from Georgia, sparked the rally by purchasing an additional $15,000 worth of SKI tokens, marking him as the first U.S. Representative to buy a meme coin twice. Endorsements from high-profile figures often lead to rallies as retail investors follow suit, a phenomenon seen previously when Collins’s investment led to a 10% jump in SKI’s price.
Speculation regarding a potential Binance listing further fueled the momentum, as a suggestive post from Binance hinted at the connection. SKI is already featured on Binance Alpha, a platform for tokens potentially considered for future listings. Such listings can substantially impact meme coins with small market caps, often pushing them to new all-time highs.
The community remains optimistic, with 91% of over 13,800 voters on CoinMarketCap anticipating further price increases. The hype has propelled SKI to trend on Google in the U.S. According to crypto analyst TraderJohnny, SKI is poised for a breakout from a descending triangle pattern, supported by steady volume accumulation and significant trading activity, suggesting a bullish outlook for the token.
