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The Cat in a dogs world price dropped 35% to trade for $0.005551 as of 06:06 a.m. EST time as trading volume drops 49%.
With this dump, the MEW token slipped below its $500 million market capitalization support zone to the current market capitalization of $462 million. This made it the biggest loser.
$MEW has retested its 500mil MC support zone and has registered 2 solid green bars which could indicate trend reversal. This is further validated by RSI which was sitting in oversold territory (<30).
Watch this space #MEW pic.twitter.com/BuVy0WRa3Z
— brownjesus.eth (@jizzuschrist69) March 31, 2024
However, the Cat in a dogs world price is defending the $0.0045 support, with a break and close above $0.006073 likely to signal a trend reversal.
In the meantime, the odds continue to favor the downside, with the Relative Strength Index (RSI) subdued below the 50 mean level. The histograms of the Awesome Oscillator (AO) are also flashing red as they edge toward negative territory steadily.
Also, notice the volume indicator is reducing in size, with all indicators suggesting a strengthening bearish trend.
Increased selling pressure could see the Cat in a dogs world price slip below $0.004564. This would mean the altcoin has fallen below the confines of the bullish technical formation. In a dire case, the load-shedding exercise could see the MEW price extend to the $0.004000 psychological level.
The Parabolic Stop and Reverse (SAR) indicator accentuates the bearish thesis as it tracks the Cat in a dogs world price from above. For as long as this price-tracking indicator continues to follow the asset’s price from above, the odds will continue to favor the downside.
TradingView: MEW/USDT 4-hour chart
Converse Case
On the flip side, a re-entry by the bulls, seizing the opportunity to buy the dip could see the Cat in a dogs world price push north. A flip of the $0.006073 resistance into support would provide the jumping-off point for the MEW price to confront the midline of the ascending parallel channel.
Nevertheless, traders would only be encouraged to execute more buy orders if the bulls can haul the Cat in a dogs world price above the upper boundary of the channel.
In the midst of this uncertainty, traders are turning to Sponge V2, a 2.0 token that analysts say has 100X potential.
Promising Alternative To Cat in a dogs world
Sponge V2 is a veteran in the meme coin space, coming to the stage after the discontinuation of its predecessor, Sponge V1. The project is gaining traction with over $9.579 billion in tokens staked. This is likely driven by its innovative staking reward rates, offering 169% for Ethereum and a staggering 378% for the Polygon network.
This reflects strong investor interest and community support. This momentum is further amplified by the project’s roadmap, which includes upcoming exchange listings, solidifying Sponge V2’s growth trajectory.
The project’s successful staking activity has recorded a rapid expansion bucked by unwavering community support. The project’s website highlights its impressive milestones, including a 100x surge in 2023 and upcoming major exchange listings, attracting significant attention within the crypto space.
Despite past performance not guaranteeing future success, the remarkable growth has certainly caught the eye of investors.
Sponge V2‘s unique “stake-to-bridge” mechanism, fosters inclusivity and ensures equal participation for both new and existing investors. This approach not only encourages community engagement but also provides a clear path for everyone to benefit from the project’s growth.
🚀Missed 100x in 2023?💥 $SPONGE is BACK with V2 – Bigger, Better, and ready to absorb the damp!
Hurry and stake now to join the ride! 🔥#SpongeV2 #Web3 #Crypto #Alts pic.twitter.com/VMooQjC79H
— $SPONGE (@spongeoneth) March 25, 2024
Besides staking, the project has expedited the launch of a fully decentralized Play-to-Earn (P2E) game with significantly lower transaction fees. This is because MATIC transaction costs range from 0.1 and 0.5 MATIC ($0.077-$0.38), relative to Ethereum’s $2.5 to $20 range. The migration is a tune-up to significant on-chain savings.
Don't forget, #SPONGERS! 🧽💦#SpongeV2 is bringing exciting utility through our upcoming #P2E game! 🔥
Get ready to earn $SPONGE tokens by playing the game and ranking on the leaderboard.
Stay tuned for more info! 🚀#MemeCoin #Crypto #Alts #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024
Sponge V2 transcends its status as a mere meme coin. Its distinctive combination of high-reward staking and an upcoming play-to-earn game is attracting early investors who seek both enticing returns and potential in-game utility. Buy and stake $SPONGE today and it could set up your crypto portfolio for spectacular returns even as analysts rank it among their best choices for promising meme coins.
Also Read:
- How to Buy Sponge V2 On Presale – Alessandro De Crypto Video Review
- 100X Meme Coin Sponge Prepares For Second Takeoff With Launch of V2 – Is $SPONGEV2 The Best Crypto to Buy Now?
- Can Sponge V2 Experience a 100x Surge Similar to Sponge V1 Upon Its Launch in 2024? Conor Kenny Presale Review
- $SPONGE Crypto Price Surge Sparks Speculation on SPONGE V2’s Meme Coin 100x Potential
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