Ski Mask Dog (SKI), the native token of the Ski Mask Dog meme coin, experienced a significant rally on Dec. 2 after reports surfaced that a United States lawmaker had invested in the digital asset. The price of SKI surged by 25% to reach an intra-day high of $0.237 on Dec. 3, boosting its market capitalization from approximately $187 million to over $235 million.

Based on Base, the Layer 2 blockchain of Coinbase, the SKI meme coin has garnered attention for its strong community-driven approach, with over $6 million in trading volume in the past 24 hours. Despite being initially abandoned by its creator, the passionate community behind SKI resurrected the token, leading to a remarkable increase in both value and popularity.

The recent spike in SKI’s price followed news that Representative Michael Collins, a Republican from Georgia, had invested an additional $15,000 in SKI tokens as part of his latest foray into the crypto space. Meme coins like SKI often witness rallies after receiving endorsements from prominent figures, prompting retail investors to follow suit and drive up demand as the token gains mainstream recognition.

Additionally, speculation within the community about a potential listing on Binance for SKI gained traction after a post on Binance’s X platform featured a skier checking charts on a ski lift, hinting at the meme coin. SKI has already found its way onto Binance Alpha, a section of Binance Wallet showcasing tokens being considered for future listings on Binance Exchange.

Furthermore, listings on major exchanges like Binance or Coinbase can have a significant impact on meme coins with smaller market caps, such as SKI, often resulting in new all-time highs for these digital assets. Community sentiment surrounding SKI remains optimistic, with 91% of 13.8k votes on CoinMarketCap predicting a further increase in the token’s price. The buzz surrounding SKI has even propelled it to trend on Google in the U.S.

Analysts are also bullish on the future of SKI, with predictions of a breakout from a descending triangle pattern and strong support at key horizontal levels. Steady volume accumulation and an Average Daily Range of 21.72% on the 1-day SKI/WETH chart suggest sustained trading activity and bolster the case for a potential bullish breakout in the near future.