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The MemeFi price soared 21% in the last 24 hours to trade at $0.01128 as of 02:29 a.m. EST on trading volume that surged 151% to $612 million.
MemeFi Price Indicators Indicate A Possible Price Rally
After a steep decline, the MemeFi price consolidated in a range (marked as support) around $0.0060, before forming a rounded bottom. MEMEFI then dropped slightly to $0.0102 support, which the bulls seem to be using to rally the asset, according to data from GeckoTerminal.
The 50-day Simple Moving Average (SMA) is shown at $0.00831, well below the current price of $0.01128. Interpretation: The price being above the 50-day SMA suggests bullish momentum, with the SMA acting as a potential dynamic support level.
Moreover, the Relative Strength Index (RSI) is at 61.27, which is in the neutral-to-bullish zone (below the overbought threshold of 70). This indicates the price has room to move higher before becoming overbought. Momentum is strong, but the RSI should be monitored for potential overbought conditions if it nears 70.
If the price of MemeFi continues to surge, the bulls could push MEMEFI to complete the ‘handle’ part of the cup and handle pattern. If this happens, the price of MemeFi could surge even more, as the bulls target $0.016.
Conversely, if the MEMEFI price breaches the current support, the next possible target could be at the next support zone at $0.00708.
Meanwhile, investors are rushing to buy the newly launched meme coin Catslap (SLAP), which aims to dethrone the top cat-themed meme coin Popcat (POPCAT) as a new altcoin season looms.
According to ClayBro, a prominent crypto analyst with over 131K subscribers, Catslap could be a meme coin to surge 50X after launch.
New Memecoin Catslap Goes Parabolic – Best Crypto To Buy Now?
If you already missed the boat on Popcat, Mog Coin, and Cat in a Dogs World, you may want to consider a new cat-themed meme coin narrative at the very start of its journey: Catslap Token.
Catslap is a new meme coin combining cryptocurrency and a gamified experience where players compete globally by slapping in an addictive online game. It’s based on a cat that enjoys slapping people, which is proving to be a strong narrative, with more than 8.2 million slaps unleashed worldwide thus far.
I’m gunning for the crown. $SLAP to a billy 😺 pic.twitter.com/n7yQYRZGH9
— CatSlap (@CatSlapToken) November 27, 2024
SLAP had a fair launch direct to DEX after its launch last week and has soared 2,488% since then and 28% in the past 24 hours.
The surge is driven by expectations of significant growth, bolstered by an aggressive marketing campaign and partnerships with leading crypto wallets such as Best Wallet, giving it exposure to a 60,000-strong community.
Catslap Token has entered the crypto market with a bang, climbing to a market capitalization of almost $25 million in short order amid speculation of a possible Coinbase or Binance listing.
Dog days are over bro pic.twitter.com/i3og5i1uZY
— CatSlap (@CatSlapToken) November 26, 2024
You also have an opportunity to earn passively with the project’s staking mechanism, which offers a 40% annual percentage yield (APY). Tokens are locked for 90 days, with an option to unstake early. Unstaking before the 90 days burns a portion of your tokens, and therefore reduces selling pressure.
You can buy SLAP on Best Wallet or visit the Catslap Token website.
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