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The Mad price plunged 12% in the last 24 hours to trade at $0.00005050 as of 11:17 p.m. EST on trading volume that soared 60% to $11.3 million.
Mad Price Could Still Soar
The MAD/USD 4-hour chart reveals significant bullish activity, with the Mad price momentum building after a prolonged period of consolidation. A notable Inverse head-and-shoulders pattern, a classic bullish reversal structure, is visible.
This structure formed between late November and early December, with the neckline breakout occurring near the $0.00004506 level, according to data from GeckoTerminal. The price successfully retested the neckline before rallying further, confirming the breakout.
Meanwhile, the 50-day Simple Moving Average (SMA) is trending upwards and currently at $0.00004479, providing near-term support. The 200-day SMA at $0.00002923 remains far below, underscoring a strong long-term bullish trend.
The Relative Strength Index (RSI) is at 52.34, which is in neutral territory. This indicates the current price movement is balanced, with neither overbought nor oversold conditions. The RSI’s recent decline from overbought levels provides room for further upside before encountering potential exhaustion.
Based on the inverse head and shoulders breakout and overall bullish trend, the price appears poised for another upward leg. The immediate resistance level lies near $0.000070, where the price might encounter psychological selling pressure. If this level is breached with strong volume, the bulls could target $0.00008-$0.00009.
Mad Price Chart Analysis. Source: GeckoTerminal.comIn the short term, the price may experience some consolidation or a minor pullback toward the $0.0000450-$0.0000480 support zone before resuming its uptrend.
Meanwhile, investors are rushing to buy the newly launched meme coin Catslap (SLAP), which ClayBro, a prominent crypto analyst with over 131K subscribers, says could be the next meme coin to surge 50X.
Catslap: Best Alternative To MAD?
Catslap’s price has risen 5,557% since it launched three weeks ago, and given the popularity of the project’s viral, play-to-earn slapping game, there may be more upside ahead.
The project introduces an innovative Slap-2-Earn mechanism for crypto enthusiasts.
The game has already recorded a massive 646 million slaps on its Slapometer globally. The popularity of the game has boosted community engagement and there are now 18,796 individuals holding SLAP tokens.
Its “Hot Token” status on Best Wallet, a fast-growing crypto wallet, connects it to over 60,000 users, boosting visibility and momentum.
Token holders can also earn passively via the project’s staking mechanism, which offers a 40% annual percentage yield (APY).
We be cooking. Staking now live, all website buys will be staked for 7 days at 40% APY. Early unlock by burning 🔥🔥 pic.twitter.com/ZIUK9pd3sZ
— Catslap (@CatSlapToken) November 21, 2024
The token surged after its listing on MEXC last week, and its developer is now teasing another major announcement in about 7 days. That’s rumored to be another CEX listing, with some speculating it could be Coinbase.
SLAP is currently trading at $0.00578 after a 10% increase in the last 24 hours, according to data from CoinGecko.
You can purchase SLAP Token from its official website here.
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Catslap (SLAP) - New Cat Meme Coin On Ethereum
- Listed on MEXC
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- 10,000+ Holders
- Slap To Earn Utility
- Token Burns
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