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The Popcat price surged more than 34% over the past 24 hours to trade at $0.007554 as of 9:00 am EST as investors pounced on the Solana meme coin.
The Popcat Price Pulls Back As Traders Begin To Take Profit
4-hour chart for POPCAT/USDC (Source: TradingView)
The Popcat price is resting on the 9 Exponential Moving Average (EMA) line. This is after it underwent a correction following its high of $0.01009 today. As a result of this pull back, a double top pattern has formed on the cryptocurrency’s 4-hour chart.
If the Popcat price falls below the 9 EMA line, it may break below the neckline of the chart pattern at around $0.005 soon. This bearish thesis could be invalidated if the meme coin is able to stay above the 9 EMA line for the next 24 hours. A 4-hour candle close above its 24-hour high of $0.01009 could also prevent the bearish thesis from playing out.
In these more bullish scenarios, the Popcat price could begin climbing to the next major resistance level at $0.01400. Continued buying pressure could elevate the altcoin’s value to as high as $0.01910.
Sellers Are Starting To Take Over On Popcat’s Chart
Technical indicators suggested that the Popcat price may drop in the next 48 hours. The Moving Average Convergence Divergence (MACD) hinted at a continuation of the crypto’s current short-term bearish trend.
Traders will want to keep an eye on the slope of the MACD Histogram, which is currently negative. This may lead to an intersection between the MACD and the MACD Signal lines in the upcoming days. Should these two lines cross, it will trigger a significant bearish technical flag. It could also signal that the negative trend will continue in the following few hours.
In addition to this, the Relative Strength Index (RSI) is sloped negatively towards oversold territory. This may be indicative of diminishing buyer strength. If bulls do not step in soon, bears may proceed to drag the Popcat price lower.
While the Popcat price tries to fend off sellers, Sponge V2 is positioning itself to become the next PEPE as it looks to launch off the success of its predecessor.
A Meme Coin Set To 100X
Sponge V2 is a promising meme coin that is offering investors who missed the 100x returns delivered by Sponge V1 a second chance at substantial gains.
During the meme coin craze in May 2023, Sponge V1 unexpectedly reached a $100 million market cap. Given this meteoric rise, some analysts say the meme coin may surpass Pepe this time around.
This success was mainly fueled by a series of achievements, including listings on major exchanges, a rapid growth in its number of holders, as well as the fact that it garnered 30,000 social media followers in just a few days.
The success of Sponge V1 prompted the Sponge team to introduce the next 100x opportunity, Sponge V2. The new iteration of the project is set to be “bigger and better” than its predecessor. The project includes a Play-to-earn racing game, and there are also several major listings on the horizon for Sponge V2.
Last Chance To Purchase Sponge V2 Before Big Listings
Attention, #SPONGERS!
We’re thrilled to announce that our liquidity is now locked!
With 4,270,902,045 tokens already staked valued at $3,497,953 with an impressive current 378% APY, $SPONGE is stronger than ever!
Visit our website to find out more! #SpongeV2 #Web3 pic.twitter.com/1tYOhx3Lcb
— $SPONGE (@spongeoneth) January 8, 2024
Time is running out for investors to buy Sponge V2 before it gets listed on some of the biggest crypto exchanges globally. Anyone looking to get in on the project before it is too late has two options available.
The first option is to buy and stake Sponge V1 through the project’s official website. Option two is for investors to stake their already-owned Sponge V1 tokens. Once the project goes live, investors who staked Sponge V1 will receive their V2 tokens.
In addition to the potential to achieve 100x returns with Sponge V2, the project also includes a staking program with an attractive Annual Percentage Yield (APY) of 378%.
Sponge V2 can be purchased here.
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