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The Simon’s Cat price soared 9% in the last 24 hours to trade at $0.00002398 as of 3.15 a.m. EST on trading volume that climbed 6% to $54.6 million.
The popular meme coin has been seeing its price rise since August 30, after initially dropping to a support at $0.000018. Over the last few days, the token’s price has been fluctuating, but the overall trend has been bullish in the past five days, allowing Simon’s Cat to perform better than many other cryptos, including both the altcoins from the meme coin sector and those outside of it.
The project predicted its success back on August 31, when it shared a post on X saying that September would bring the CAT token’s takeover.
The price surge on August 30 started after the CAT token’s listing on Coinstore, one of the leading crypto exchanges in Asia and globally.
🔥 NEW LISTING ON COINSTORE 🔥
👏Welcome: @SimonsCatMeme $CAT👏
⏰Trade time：2024/08/30 11:00（UTC+8）
👇Watch this space for more👇
🌎 Official website: https://t.co/SC5neVqmFa
👩👦 Officail Telegram: https://t.co/Iy2x2Z8Nvu pic.twitter.com/mZcECfWIxc— Coinstore (@CoinstoreExc) August 30, 2024
Its growth was stopped by a resistance at $0.000025, however, and not for the first time in the past few days. Moving forward, traders should keep a close eye on the project and monitor it for buying opportunities.
Simon’s Cat Price Prediction
After reaching and briefly breaching the resistance at $0.000025, the CAT token’s price was rejected to its current value. However, there are several technical indicators that suggest that the token could soon see another price surge.
The first hint of this is the fact that CAT has seen a rather sharp price drop as traders quickly moved to sell the surging meme coin. In their rush to take profit, they have pushed its Relative Strength Index (RSI) value into the oversold zone at 27.95.
This is opening a major buying opportunity for day traders, who are likely to start buying the dip, which will, in turn, create demand and push CAT’s price back up.
The token’s Bollinger bands are still relatively wide, even if the price is pushing the lower band further down. However, this is also likely to change soon. The only question is whether the token will develop a strong enough momentum to breach the resistance at $0.000025 this time, or if the barrier will stop its progression again.
A Promising Alternative To Simon’s Cat
While Simon’s Cat has a strong chance of recovery in the coming hours, the token is currently in free fall, which makes it risky to purchase right now. Instead, investors looking for new opportunities might consider a presale alternative like Crypto All-Stars (STARS).
This is a relatively new cryptocurrency that has only been in presale for a few weeks. However, during this time, it attracted massive amounts of attention from investors and experts.
While many have already bought the token, allowing it to raise over $928k so far, some are waiting to see whether demand will build up before they join.
Right now, the STARS presale is approaching its first million, after which many expect the whales to start joining the ICO as well. The token promises to revolutionize staking in the meme coin sector thanks to its invention of a brand new staking smart contract known as the MemeVault.
Unlike regular staking smart contracts that allow the user to stake an individual project’s native crypto, MemeVault allows users to stake both STARS and major meme coins including Dogecoin, Pepe, Floki, Brett, Milady, Turbo, and others.
The project thus aims to position itself at the heart of meme coin staking, and its technology could easily grow and potentially include more meme coins or potentially all cryptos someday in the future.
This is the allure of Crypto All-Stars and the reason why its ICO blew up. It is also why many investors are considering buying the STARS token now, while it is still in the early phases of its presale, and its price sits at only $0.0014191. STARS can be bought with ETH, BNB, USDT, or credit/debit cards.
Another thing worth noting is that the crypto expert and popular YouTuber ClayBro, who has over 130k subscribers, speculated that Crypto All-Stars has the potential to soar by 29x after launch.
Visit the official STARS website here.
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