Cat coins are fiercely competing for dominance, with top crypto kitty contenders vying to be the top cat in the market. As the current leader, Popcat is battling to maintain its position. Let’s dive into the details.
Recent weeks have seen an absolute surge of interest in animal-themed cryptocurrencies, so far the crypto market has seen the rise of long-standing Dogcoins (and newcomers such as DogWifHat), frog coins, baby hippo coins, and even Goat coins.
But ever the internet’s favorite meme, it is clear that the Cat coin crown is the most contested, as four crypto cats appeared on the now infamous Murad meme coin supercycle prediction list this month.
However, the cats don’t stop there. According to data from CoinGecko, over 13 cat coins currently possess large market capitalizations above the $50M mark, illuminating the intense competition in the now $4.39bn cat coin space.
POPCAT Price Analysis: Will Popcat Retain The Cat Coin Crown?
As cat coins continue to surge in activity, the leading token, POPCAT, is currently trading at a market price of $1.34 (representing a 24-hour change of -1.12%).
Despite the localized retracement, POPCAT appears to be in the process of recovering from a sudden scare in the short time frame following the emergence of a feared ‘death cross’ between the 20DMA and 200DMA on Wednesday, 16.
Yet, in an impressive display of strength, POPCAT holders mounted a defense of the support level at $1.16, enabling bulls to regain control of price action with a move back up above moving average support in the last 24 hours.
This has corrected the much-feared ‘death cross,’ with an ascendant 20DMA rising to break back above the 200DMA in a very welcome ‘golden cross’—suggesting upside movements are likely from here.
Following this technical strengthening, some minor localized retracement has occurred, slipping below the aggressive ascendance of the 20DMA (at $1.35), leaving the price consolidating above support at $0.31.
Shifting attention to POPCAT’s RSI indicator, which is now reading a neutral 51, it seems momentum is halting while consolidation awaits a further tightening of Bollinger band volatility.
Overall, with POPCAT awaiting a bullish bounce following the golden cross move, upside targeting suggests POPCAT price will next push up to $1.487 (a potential +10.81% move).
Meanwhile, downside risk seems reduced with a well-defended local support level immediately below price action at $1.31 (a potential -1.75%).
This suggests that heading into the weekend, POPCAT has a risk: reward ratio of 6.17, which is very alluring for derivates traders.
However, a measly +10.8% gain for FOMO spot traders fails to appetize in the meme super cycle environment.
Pepe Unchained Layer-2 Could Hit $1Bn As It Reboots PEPE Ecosystem
Meanwhile, stepping away from the multi-billion market caps and looking at growing opportunities in the meme coin space, there is perhaps no more exciting opportunity this week than Pepe Unchained.
Seeking to address one of the most common complaints amongst meme coin traders—high gas fees—Pepe Unchained is on a mission to free the legendary Pepecoin from its ERC-20 prison by launching a much-needed dedicated meme coin layer-2.
What does this mean? In a nutshell, Pepe Unchained will deliver faster transactions at a lower cost, enabling a highly scalable playground for the best meme coin developers in the crypto space.
But this is so much more than a new layer-2 piggy-backing on Ethereum; it is about developing a new hive for meme coin activity, and that requires ecosystem growth.
The OG developers working on the Pepe Unchained project are keenly aware of that.
As such, they’re already planning a whole suite of ecosystem development tools, including block explorers to enable research, super low-cost cross-chain bridges to draw in meme coin traders from across the industry, and, a new developers grant fund.
With Frens With Benefits, Pepe Unchained will fund developers in the space to build on the latest layer-2 solution, so expect big things to come.
Better yet? You can claim your slice of the pie and profit from this huge new venture.
The experienced development team (which boasts more than 100 years of combined blockchain development XP) is bootstrapping this project with crowdfunding via the $PEPU presale.
Pepe Unchained’s presale raised a jaw-dropping $20.52M this week, as eagle-eyed investors across the space industry target $PEPU as one of the hottest launches of 2024.
So don’t miss out on this incredible opportunity, next time you hear about Pepe Unchained, you will probably be trading on it (and regreting ignore this news!).
To stay current, engage with the Pepe Unchained community on X and Telegram.
Visit Pepe Unchained Here
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