Jump into Popcat price analysis, as Popcat meme coin has been the center of focus on crypto twitter. But is the cat coin meme coin ready for another run?
For weeks, crypto Twitter was abuzz with talk of Popcat reaching $1, an ambitious target when this meme target started below $0.3. But finally, after weeks of talks, it reached this target over the weekend.
Easy!
$1 $POPCAT achieved. https://t.co/besvOiICNT pic.twitter.com/Blo7yQhpVA
— VikingXBT (@VikingXBT) July 21, 2024
But what can we expect from Popcat now? Our last Popcat analysis was done on July 3rd, and it will be worth a look before going through this analysis!
Popcat price analysis: Support and Resistances
(Popcat USDT – Support and Resistances)
Adding support and resistance to the Popcat chart, we can see that Popcat price has really respected previous levels and traded very technical.
$0.354 has acted as both support and resistance and has been a very good level to both buy and sell, respectively of where the price came from.
The same thing with $0.655. So one could ask yourself, would it not make sense for this level to be retested?
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What can we learn from the moving averages?
(Popcat USDT – Moving Averages)
If we proceed to add in a moving average. A moving average is very simply the average closing price of an asset over the length you choose when adding it. So D100 MA will be the average closing price of an asset over the last 100 days (hence the D before 100).
We are using the 100 MA on Popcat, and when we look at the moving average, we can see that the price has respected it very well in the past. Every time it has pulled away from the price, the price has returned to it (or the moving average has caught up).
We should expect the same thing to happen here: prices will consolidate for a while until the moving average can catch up.
(Popcat USDT – Relative Strength Index)
Adding the Relative Strength Index, which is an indicator that tracks the strength of an asset. The indicator considers an asset oversold when it reaches below 30 and overbought when it comes above 70.
It does not necessarily mean the asset will pump or dump when it reaches each area. In fact, the longer an asset can stay overbought or oversold, the more bearish or bullish it is.
When we look at Popcat and the RSI, we can see that on the initial move back in March, the price managed to stay overbought for a long period of time and then went up astonishingly 30x.
Since then, the price has not managed to stay overbought for more than a day, if even, and the price went back down as soon as it reached overbought this time.
We can also see that the price has generally bounced around the 50 RSI level. We should watch out for that.
What’s our plan for Popcat?
$POPCAT: I think looks decent still but would be concerned if this prints a lower high/shoulder. If this happens and popcat sells off, all cat beta is going to die. Still bullish for now and still think cat memes will do pretty well and play catch up. But lets see pic.twitter.com/pEdFb7G8ja
— Altcoin Sherpa (@AltcoinSherpa) July 24, 2024
Some experts, such as Altcoin Sherpa, who’s an excellent analyst, will be concerned if it prints a lower high and revisits lower. We do not fully agree here as it’s important to establish bases for later on and turn old resistances into strong supports.
To conclude our analysis, we can gather that Popcat was slightly overextended to the upside and reached psychological resistance at $1.
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The moving averages are falling behind, and we want to see them catch up. The RSI became overbought and we want to see it cool off.
So $0.655 seems like a good level to watch out for next.
Pepe Unchained: More Than $5 Million Raised In Presale
Pepe Unchained – A layer 2 blockchain created for speed, security, low fees around the famous figure of Pepe. The entire ecosystem is powered by the token $Pepu.
What Is A Layer-2 And What Are The Advantages?
While Level 1 provides a secure, decentralized foundation, Level 2 solutions offer scalability and cost efficiency. L-2s themselves are nothing new, but some are more successful than others. An example is Base, the layer-2 of Coinbase.
Base has recently seen a significant increase in daily activity, suggesting growing interest and adoption. The success derives from the privileged use that users make of it to launch and trade meme coins. Some successful meme coins on Base are $Brett and, more recently, $Andy.
Pepe will get his own chain – better, faster, and the first memecoin Layer 2!
Launching at the end of the presale 🐸🧠 pic.twitter.com/sN34G39QuH
— Pepe Unchained (@pepe_unchained) July 22, 2024
PEPU could follow the same path as Base, thanks to its dual nature of blockchain and meme. Investors don’t seem to have missed Pepu’s potential, and in fact, more than $5 million has been raised so far in the presale.
The price is currently $0.0086304 per $Pepu, and early investors can enjoy a 370% APY for their staked tokens.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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