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The Cat in a Dogs World price slumped 15% in the past 24 hours to trade for $0.004257 as of 03:04 a.m. EST on trading volume that climbed 8%.
This disparity between the MEW price and trading volume points to declining sentiment in the crypto market, as also indicated by the steady dump in the Bitcoin price.
The drop can also be attributed to profit booking following the listing of the MEW token on WazirX, an India-based trading platform.
⚡️ MEW/USDT trading is live on WazirX ⚡️
You can now buy, sell, and trade $MEW in the USDT market of WazirX! @MewsWorld
Repost & spread the word 🙌
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) April 26, 2024
With this dump, MEW’s fifth position on metrics of market capitalization among Solana-based projects is threatened.
🚨 REPORT: Memecoin $MEW (@MewsWorld) has become the 5th largest coin on @solana by Monthly on-chain trading volume.
($1.15 Billion Monthly on-chain volume) pic.twitter.com/i2Viip7gs8
— SolanaFloor | Powered by Step Finance (@SolanaFloor) April 26, 2024
Nevertheless, some believe that MEW is among the meme coin tokens with 10X growth potential in May, alongside POPCAT, TRUMP, MOG, and BabyDoge.
Top Meme-Coins For 10X Profits In May!
1.. $POPCAT
2.. $MAGA (TRUMP)
3.. MOGCoin $MOG
4.. Baby Doge Coin #BabyDoge
5.. Cat in the dogs world $MEW pic.twitter.com/aK5tLfQK7F— Cardano Whale 🐋 ADA (@BILOO_IQ) April 28, 2024
The token is also trending on Bitget Exchange’s spot list, with some saying it could recover even as the Bitcoin price dumps. This is because history has shown cat-themed tokens rallying every time BTC price drops.
🔥 $MEW
🔥 $PEPE
🔥 $BGB
🔥 $SOL
🔥 $ONDODid you check these #altcoins today?
🚀 Trade now on #BitgetSpot: https://t.co/U6w0Bi2rtY @MewsWorld @pepecoineth @solana @OndoFinance pic.twitter.com/kVf38aZbOI
— Bitget (@bitgetglobal) April 29, 2024
The Cat In A Dogs World Price Prediction
On the daily timeframe, the Cat in a Dogs World price looks primed for a recovery. This is shown by the fact that it continues to hold above the 50% Fibonacci placeholder of $0.004430 despite the recent dump.
The Relative Strength Index (RSI) shows the same picture, holding just above the mean level of 50. If the bulls can defend above this level, the Cat in a Dogs World price could use it as the jumping-off point for its recovery.
Resurgence among the bulls could see the cat in a Dogs World price push north. A flip of the $0.005360 blockade into a support would encourage more buy orders. The ensuing buying pressure could send the Cat in a Dogs World price all the way to the peak of the market range at $0.007045. Such a move would constitute a climb of around 65% above current levels.
To confirm the continuation of the uptrend, the Cat in a Dogs World price must record a higher high above the April 24 peak of $0.007462.
TradingView: MEW/USDT 1-day chart
On the other hand, enhanced seller momentum could see the dump continue for the Cat in a Dogs World price. For the bullish thesis to be invalidated, however, the MEW price must lose the support due to the 50% Fibonacci placeholder of $0.004430 decisively. A daily candlestick close below $0.003527 would invalidate the bullish thesis.
If the crucial support at $0.003527 is lost, the Cat in a Dogs World price could continue the fall, going as low as the bottom of the market range at $0.001815, levels last tested on April 13.
Meanwhile, experts are urging forward-looking investors to consider 2.0 meme coin Sponge V2. Crypto analyst ClayBro asks if it might be the next 100X crypto.
Promising Alternative To Cat In A Dogs World
Sponge V2 is a new meme coin that’s building on the success of its predecessor, Sponge V1, which soared 100x last year in a bear market.
With this proven record of accomplishment, the much-anticipated Sponge V2 token promises continued growth and innovation. One of its distinguishing features is its emphasis on community engagement and utility.
To increase community engagement, Sponge V2 is introducing a new P2E racer game where players can compete against each other for a chance to win $SPONGEV2 tokens as rewards.
Get your $SPONGE now! 🛍️🧽 #AltSeason #BTC #PEPE #ETH pic.twitter.com/Z14ZeDRDgR
— $SPONGE (@spongeoneth) April 28, 2024
Earn Rewards With Sponge V2 Staking
Sponge V2 also introduces an attractive staking option that offers an annualized return of 164% on Ethereum and 342% on Polygon. More than 9.8 billion tokens have already been staked.
Meme coins with a good staking program are in high demand.
Sponge V1 built a peak market cap of $100 million and listed on multiple centralized exchanges. In the same spirit, Sponge V2 plans to list on even larger exchanges, further enhancing its accessibility and visibility within the crypto community.
By merging gaming elements like P2E and rewards via staking, the project seeks to broaden its audience. If you are attracted to Sponge V2, buy soon because it is now offering a last chance to buy before it launches on top-tier exchanges.
Also Read:
- How to Buy Sponge V2 On Presale – Alessandro De Crypto Video Review
- 100X Meme Coin Sponge Prepares For Second Takeoff With Launch of V2 – Is $SPONGEV2 The Best Crypto to Buy Now?
- Can Sponge V2 Experience a 100x Surge Similar to Sponge V1 Upon Its Launch in 2024? Conor Kenny Presale Review
- $SPONGE Crypto Price Surge Sparks Speculation on SPONGE V2’s Meme Coin 100x Potential
- 5 New Cryptocurrency to Invest in 2024: Promising Game-Changers with 1000x Potential
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- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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