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The Popcat price plunged 24% in the last 24 hours to trade at $1.1319 as of 11:15 p.m. EST on trading volume that skyrocketed 135% to $271 million.
POPCAT is the biggest loser in the latest cryptocurrency market dip, which saw the meme coin sector’s market capitalization plunge 15% to $127.7 billion.
The POCAT token has also been overtaken by Mog Coin as the largest cat-themed crypto by market capitalization. MOG’s market cap now stands at $1.38 billion, while Popcat has plunged to $1.1 billion, according to CoinGecko.
Popcat Price Generally Bearish
The Popcat price is in a downtrend, as shown by the declining peaks and troughs, especially in the most recent candles. The steep drop in the most recent price action signals strong bearish momentum.
Furthermore, the chart shows a possible rounding top pattern, which is a bearish reversal signal. This is confirmed by the sharp price drop after the completion of the curve. A breakdown has occurred, and the price is trading below the significant support levels near $1.20, according to GeckoTerminal data.
The significant drop from $1.58 has resulted in the price of Popcat dropping below both the 50-day and 200-day Simple Moving Averages (SMAs). The 50-day SMA crossed below the 200-day SMA, which formed a death cross around the $1.56 level, further cementing the general bearish momentum.
Moreover, the Relative Strength Index (RSI) is at 28.32, which is well below the oversold threshold of 30. This indicates that the asset is in oversold territory and that the asset is under intense selling pressure.
The strong bearish trend suggests further downside potential. If the Popcat price fails to recover above $1.20, the next support level could be near $1.10 or even lower.
Conversely, due to the oversold RSI, there might be a brief relief rally to retest the $1.20-$1.25 levels as resistance, as the bulls target the previous resistance around $1.44.
Meanwhile, investors looking to recoup losses after the cryptocurrency market dip are rushing to buy the newly launched meme coin Catslap (SLAP), which aims to dethrone Mog Coin as the top cat-themed meme coin.
According to ClayBro, a prominent crypto analyst with over 131K subscribers, Catslap could surge 50X.
Catslap – The Next 100X Meme Coin?
Catslap’s price is up 5,529% since it launched 19 days ago, and it looks like there may be more upside ahead given the project’s value-added benefits for token holders.
New $SLAP ATH & Gary Gensler is stepping down. Send it to the moon 😻 pic.twitter.com/PzaPD8fdn7
— Catslap (@CatSlapToken) November 21, 2024
Its addictive slapping game, which comes with a $100k in play-to-earn rewards, has already recorded more than 484 million slaps worldwide on its Slapometer. The game has also helped drive engagement across its community, and there are now 17.6k token holders.
Its “Hot Token” status on Best Wallet, a fast-growing crypto wallet, connects it to over 60,000 users, boosting visibility and momentum.
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
Token holders can also earn passively via the project’s staking mechanism, which offers a 40% annual percentage yield (APY).
The token surged after its listing on MEXC last week and its developer is now teasing another major announcement in about 9 days. That’s rumored to be another CEX listing, with some speculating it could be Coinbase.
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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