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The Popcat price dropped 8% in the last 24 hours to trade at $1.22 as of 2.30 a.m. EST on trading volume that surged 12% to $134.75 million.
The popular meme coin saw an even larger 16% dip in the last seven days, although for the most part in the last week it fluctuated between a support at $1.20 and a resistance at $1.30.
Popcat Price Prediction
The Popcat price dropped toward the support at $1.20 in the last 24 hours, but fortunately, technical indicators suggest that the support is likely to hold out and prevent it from going further down.
The token’s Bollinger bands have started seeing a sharp tightening, which suggests that there is some indecision in the market, as traders seem to be unsure what the price will do next. Right now, the price is halfway between the lower band and the middle point between the two bands, and while it could continue sinking to the bottom band, it could also go back up, if traders move in to buy the dip.
The project’s Relative Strength Index (RSI) shows that something like that might happen, as its value is currently at 30 — the very start of the oversold zone. Typically, when the RSI drops to the value of 30, traders start buying the dip, which increases the demand and pushes the token’s price back up.
However, it is worth noting that Bitcoin’s price drop has brought another major bearish wave to the crypto market, which might prevent POPCAT from recovering for the time being. After all, the RSI has been fluctuating around the value of 30 for the past six hours, going as deep down as 25.53 before recovering to 31.21 and then dropping again.
In other words, Bollinger bands show that traders are hesitant to make a decisive move, and the RSI shows that the token is in the right place to see a recovery. If the market sentiment starts changing in the hours to come, POPCAT has the potential to see a strong recovery, but it will be up to Bitcoin to allow it.
Promising Alternative To Popcat
While POPCAT seems to be a risky purchase right now, the new meme coin Catslap (SLAP) is a token that analysts say has the potential to trade against the market thanks to the hype around its addictive slapping game.
Catslap Token allows you to slap things with a click of a button. Initially, it offered nothing but a satisfactory slap sound. With each slap, you would increase the total number of slaps as measured by the Slapometer, and add one more slap to your country’s score.
However, this changed recently when the project introduced its new and unique Slap-To-Earn feature. That allows you to connect your wallet and start slapping and receiving rewards for it.
Only days ago, the project hit a milestone of 10 million slaps, which it celebrated by burning 10 million SLAP tokens. Since Slap-To-Earn was introduced, the number of slaps skyrocketed to more than 60 million.
So, with the slapping game rapidly attracting users who are becoming SLAP holders, and a big announcement on the way in three days, buying SLAP could be a great opportunity.
Popular crypto YouTuber ClayBro, who has over 132k subscribers, recently predicted that Catslap could become the next viral meme coin with 100x potential, and judging by the community’s reaction to its game, he might be right.
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