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The Cate price plunged 30% in the last 24 hours to trade at $0.02406 as of 4.10 a.m. EST on trading volume that plummeted 43% to $13.62 million.
The recently launched cryptocurrency is a meme coin that describes itself as “Cat with an E,” similar to how the DOGE meme is Dog with an E. More than that, the token was inspired by the cat that lived alongside the original Doge.
On September 15, the project even posted a tweet in which it tagged Vitalik Buterin, the co-founder of Ethereum. The post consisted of an image taken in 2018 when Buterin visited Atsuko Sato, Doge, and Cate, and it said that it wanted to make a lasting impact in memory of Doge by donating $100,000 to a charity of Buterin’s choice.
Something similar happened earlier this year with a different project called Neiro, which sent Buterin its tokens. The move was made by the project’s original founder, just before they abandoned it, and the tokens were sent to Buterin to list him as a major holder. After the community took over the project, Buterin donated the money to charity.
Cate has been more transparent with its intentions, seeking to honor Doge’s legacy by trying to give back and make a positive difference. However, the token’s price was a different matter, fluctuating between $0.030 and $0.040 throughout this week, and now it broke the support and started spiraling down.
Cate Price Prediction
The Cate price reached its peak around September 14 when it climbed to its ATH of $0.05171. Since then, however, its price saw a 52% drop to its current value of $0.02406. As mentioned, the token initially dropped to the support at $0.030, while the resistance at $0.040 kept it from going further up.
Now, the support seems to be broken, but technical indicators suggest that Cate might bounce back up in the short term.
The token’s Bollinger bands saw a sharp narrowing in the last few hours, but they are starting to widen once again, which is a bullish signal. For the moment, the price is still closer to the lower band than the middle area or the upper one, but this too could change fairly quickly.
An even more promising signal comes from the project’s Relative Strength Index (RSI) — an indicator that shows that traders have oversold CATE when its price first broke the support at $0.030. Since then, the RSI value has been steadily growing toward the neutral area.
For now, the token doesn’t seem to be in a hurry to head back up toward the overbought zone, suggesting that many traders are still uncertain and are waiting to see what happens. But, the bulls were strong enough to push the RSI back to the neutral area by buying the dip, so this might be enough to encourage other traders and investors to join in hours to come.
Promising Alternative To Cate
Given uncertainty around the Cate price, traders might want to consider a presale alternative like Memebet Casino (MEMEBET Token), which has raised over $247k.
Memebet Casino is a new crypto project belonging to an online crypto casino of the same name. The project is a platform that allows players to place wagers using many major meme coins.
Specifically, the project calls itself “the only web and Telegram casino where you can wager with meme coins.” Buying its MEMEBET Token also comes with other benefits, such as massive P2E airdrops, special degen rewards, and exclusive VIP benefits.
The project has attracted the attention of crypto experts such as a well-known crypto YouTuber ClayBro, who has over 130k subscribers. The influencer said that Memebet Casino offers a chance for amazing gains in meme coin Telegram gaming.
MEMEBET Token sells for $0.0252 right now and you can purchase the project’s tokens with ETH, USDT, or credit/debit cards.
But there are less than 2 days left before MEMEBET Token’s price sees its next scheduled increase, which means anyone interested in buying should make their move soon.
Visit the official MEMEBET Token website here.
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