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The Popcat price soared over 22% in the last 24 hours to trade at $0.3042 as of 6:06 a.m. EST as investors rush to buy the crypto.
With the recent gain, the POPCAT price is now more than 15% up on the weekly time frame as well.
Popcat Price Tries To Break Above Resistance – Does It Have The Bullish Backing Needed?
Daily chart for POPCAT/USD (Source: GeckoTerminal)
The Popcat price is attempting to overcome the resistance level at $0.3048, according to data from GeckoTerminal. Should the meme coin clear this technical obstacle within the next 48 hours, it might have the room needed to rise to the subsequent resistance at $0.4367.
However, a rejection from the $0.3048 mark in the next 24 hours could lead to a retracement to the closest support at $0.2169. Continued sell pressure if the meme coin drops to this point might then lead to a plunge to as low as $0.1323 in the short term.
Buyers Have Re-Entered The Order Books, Could Try To Push The Popcat Price Up Higher
Technical indicators on the daily chart suggest the Popcat price might keep climbing in the next 24 hours, with both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) showing bullish signs.
In the last couple of days, the MACD line started to collapse towards the MACD Signal line, which suggested that POPCAT’s positive momentum was cooling off. However, bulls have recently re-entered the crypto’s order books, causing the gap between the MACD lines to grow again and reviving the meme coin’s bullish momentum.
While POPCAT’s momentum showed signs of cooling in the last few days, buyers seem to have grown stronger during the same period, as suggested by the RSI on the daily chart. In the last couple of days, the indicator has risen from the mid 50s to the mid 60s, signaling increasing buyer strength.
What’s more, the positive slope of the RSI line indicates that bulls are still accumulating strength against their bearish counterparts. The current reading below 70 also suggests the Popcat price has room to rise before it enters overbought territory.
As the Popcat price nears resistance, investors are piling into the presale for a new meme coin rival called BTC Bull Token (BTCBULL).
99Bitcoins, a popular YouTube channel with over 725K subscribers, predicts BTCBULL could soar 10X after its launch.
Investors Stand To Receive Free Bitcoin For Simply Holding BTCBULL
BTC Bull Token is a Bitcoin-branded meme coin that aims to support the leading crypto on its journey to $1 million per coin and beyond. As BTC climbs to new heights, the project will reward its holders with a series of Bitcoin airdrops and BTCBULL token burns at certain price milestones.
According to BTC Bull Token’s website, the next Bitcoin airdrop will happen when BTC hits $150K for the first time. Thereafter, every new $50K milestone will see free Bitcoin distributed to investors via airdrops.
The token burns will also be triggered at certain price milestones, with the first set for when Bitcoin reaches $125K. Every subsequent $25K increase in BTC’s price will also remove BTCBULL tokens from the supply.
The demand from investors looking to get in on the BTCBULL airdrops could introduce strong upward pressure on the meme coin’s price. Additional interest from investors could come from the fact that the project offers much more affordable BTC exposure than buying Bitcoin directly. Coupled with the shrinking supply, the potential demand will likely lead to a BTCBULL rally.
BTCBULL Presale Closes On $5 Million
BTC Bull Token is pulling investors in at a rapid pace through its ongoing presale, and has already raised more than $4.9 million in early-stage funding. With the bullish predictions by experts like 99Bitcoins, the opportunity to receive free Bitcoin, and the project’s meme coin appeal, it’s easy to see why an investor frenzy has erupted around the project’s ICO.
Interested investors can participate in the presale and purchase BTCBULL tokens for $0.002474 apiece via the widget embedded on the project’s website. Available payment options include both crypto and bank card.
After buying some BTCBULL, investors can then lock up their tokens in the project’s presale staking pool for an 84% APY.
Buyers that want to secure the best deal will want to act fast, because BTCBULL’s price will undergo a series of staged increases as its ICO progresses. The next price hike is set to come into effect in less than 2 days.
Check out BTCBULL on its official website.
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