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The Ginnan The Cat price skyrocketed 122% to trade at $0.00001058 as of 4:25 a.m. EST on trading volume that dropped 6% to $46.3 million.
The meme coin, launched only days ago, initially saw its value drop below the launch price, only to start blowing up late on August 5.
Both the price drop and the following surge have been caused by the wider market’s sentiment. But the project has a strong and supportive community that has been spreading the word about its potential and recent launch on social media.
OOPS I DID IT AGAIN?!
The overdose fam doesn't miss, you already know it
Told you that $GINNAN narrative is wayyyyy too good to fail – and now you see it with a new ATH.
58mil is looking sexy isn't it? https://t.co/q4glOTJxSq pic.twitter.com/qeWZf6Yuh9
— OverDose (@Overdose_AI) August 6, 2024
The rally that took hold of the crypto sector in the last two days has enabled the token to reach a new all-time high earlier today. The big question now is what will happen next?
Ginnan The Cat Price Prediction
So far, Ginnan The Cat has seen a strong price performance, but as of the time of writing, its strength is already beginning to fail. The project reached its ATH only half an hour before the moment of writing, and its price has already dropped from $0.00001114 to $0.00000985.
This could just be a temporary price rejection, as technical indicators suggest that GINNAN still has plenty of potential for growth. Its Bollinger bands continue to widen, and the price is mostly sticking to the upper band, pushing it further up.
Meanwhile, the project’s Relative Strength Index (RSI) value has entered the overbought zone, reaching the value of 80 earlier, and currently at 74.46.
Small volatility in the RSI value is not too concerning, but the fact is that the RSI has reached the overbought zone. Whenever this happens, many experienced traders take it as a signal to sell and take profit, which could lead to a strong price drop.
It is also worth noting that the rest of the crypto market is currently seeing a bearish wave which brought corrections after the recent gains, so and positive price performance from GINNAN is trading against the market, which rarely lasts for long even for the largest, established cryptos.
In other words, while GINNAN’s price is currently still strong and sitting high up, it is more than likely that the token will see a strong correction in the coming hours. This leaves traders with a choice to either sell now or HODL and wait for the price to see another surge.
But, with the major rally expected to come later this year, there will likely be more than a few who will opt to wait a few months if that means they will see much higher profits when the year-long bull run finally arrives.
Promising Alternative To Ginnan The Cat
If you believe that it is too late to buy GINNAN now, and are looking for a strong alternative, you might be interested in considering Shiba Shootout (SHIBASHOOT). This is a Shiba Inu clone that places the popular meme dog into a Wild West setting.
Shiba Shootout doubles as a meme coin and a P2E project, thanks to its recently launched game, Shiba Sharpshooter. The game takes place in a fictional Wild West town known as Shiba Gulch, where the player can participate in duels and win SHIBASHOOT tokens if they win.
The game is available right now for both Android and iOS mobile devices, but a big upgrade is coming that will allow players to earn SHIBASHOOT tokens for winning.
🚀 Join the 'Shiba Shootout' presale for $SHIBASHOOT tokens!
1️⃣ Prepare your crypto wallet.
2️⃣ Go to our presale section on the website.
3️⃣ Connect your wallet.
4️⃣ Swap crypto for $SHIBASHOOT!
Get set for the ultimate digital duel! 🌐💥https://t.co/OmlNvMLbUw pic.twitter.com/NV21EXliN4
— shibashootout (@shibashootout) August 5, 2024
So far, its ICO has raised over $884k and the YouTube channel Cryptonews calls it a ”crypto gem” with the potential to 100x on launch.
For now, Shiba Shootout remains in presale, meaning that it is immune to market volatility. But its price still increases over time as the presale goes from one stage to the next, and currently it is selling for $0.0198 per token.
If you are interested to invest, make sure you act before a price hike in less than 6 days.
Visit the official SHIBASHOOT website here.
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