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The Catizen price dropped 14% in the last 24 hours to trade at $0.7596 as of 00:31 a.m. EST on trading volume that plunged 20% to $318 million.
There is a notable increase in interest in CATI following its listings on multiple decentralized exchanges. The buzz surrounding its listings has motivated more investors to join the community.
Can the increasing buzz push the Catizen price toward a reversal?
Catizen Price Bearish – A Bullish Trend Reversal Possible?
After its launch on September 20, the Catizen price has been in a sustained downtrend, trading within a falling wedge pattern from the $1.2 resistance to the $0.73 support level, according to data from GeckoTerminal.
CATI now trades below the 50-day Simple Moving Average (SMA) (0.8567), which is a confirmation of the downtrend.
Moreover, the Relative Strength Index (RSI) also trades on a downtrend, currently at 30 as it hurtles below the 30-oversold region, which shows that CATI is under intense selling pressure.
The RSI also shows that the token is now undervalued, which may be a buying signal for the bulls. In this scenario, the bulls may buy more to push the Catizen price through a bullish trend reversal, as they target the previous resistance zone at $1.2.
However, if the bears continue pushing the price of Catizen down, CATI could plunge further below the falling wedge, with $0.65 now acting as the immediate support zone.
Meanwhile, as investors flee CATI, they are piling into a new meme coin called Crypto All-Stars (STARS), which YouTuber ClayBro, with over 130K subscribers, says has the potential to soar 26X after its launch.
Crypto All-Stars Secures Over $1.5 Million In Blockbuster Presale
Crypto All-Stars helps keep the fire alive in the meme coin sector by offering its tokens a new utility: passive income generation via unified staking.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
Crypto All-Stars allows top meme coins like Dogecoin ($DOGE) and Pepe ($PEPE) to be staked together, enabling their holders to earn rewards in the native $STARS token via the breakthrough MemeVault protocol.
Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk can also be staked on the platform, and more meme coins will be added in the coming months.
You can also earn passively through the project’s native staking mechanism, which offers a stunning 972% annual percentage yield (APY).
You can buy the token now for $0.0014593. But the price will increase in about two days, so act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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