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The BookOfPussyCats Price plunged 98% over the past 24 hours to trade at $0.00007328 as of 8:10 a.m. EST.
The steep correction comes after the token went on a tear, and it’s still up 189% over the weekly timeframe after surging to a high of $0.0066.
BookOfPussyCats Price Prediction: BOCA Facing Massive Correction
BOCA is now in a downtrend, as indicated by the late large red candlestick patterns showing a sharp price decline. Looking at chart indicators, we notice that the BookOfPussyCats price has broken below the lower band, which typically signifies an oversold condition.
However, a price movement outside the bands could signal a possible return of bullish conditions but can also indicate strong momentum, which, in this case, would be downward.
On the other hand, gauging the trend’s strength, we see that the Average Directional Index (ADX) is well above 25, sitting around 38.47, indicating a very strong trend. Given the sharp price drop, we can infer that this strong trend is downward.
The Moving Average Convergence Divergence (MACD) is below the signal line (orange), and the histogram bars are below the zero line and growing in length, indicating increasing bearish momentum.
Based on these observations, the technical analysis suggests a strong bearish trend for the meme coin as holders might now be offloading for profits after the recent pump. However, should the market become over-extended to the oversold side, we could see a recovery run with respect to previous support levels.
1-hour BOCA/USD Chart | Source: DEXTools
A Promising Alternative?
Meanwhile, as the BookOfPussyCats price corrects, Slothana (SLOTH) is emerging as a promising alternative for meme coin lovers. Slothana is a cryptocurrency based on sloths that launched amid a market war between cat and dog-themed meme coins.
SLOTH broke away from that and carved out its own niche. This slothful office worker is exhausted after working from 9 to 5, an idea that resonates with cryptocurrency investors, many of whom face the same challenges.
Because SLOTH is so laid-back, it quickly caught the attention of the market, with crypto analyst Jacob Bury identifying it as a token with the potential for 10x gains on launch.
The token raised $10 million in less than two weeks, and is now extending a last chance to buy offer before launch. There are less than nine days left, and these extensions sometimes close early.
🚀 Hold onto your branches, Slothana faithful! 🌿 We're gearing up to drop some major news: the official launch date is on the horizon! ⏰ Get ready to mark your calendars and set your alarms, because a countdown timer will soon grace our site. Let the hype for the Slothana…
— Slothana (@SlothanaCoin) April 14, 2024
Visit the official website to buy SLOTH tokens here. One SOL buys 10,000 SLOTH.
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