Catecoin price has dropped by more than 15 per cent since Wednesday. However, today’s trading session is showing signs of a bullish move in the markets.
Why Catecoin has Grown in Popularity
The growth of memecoin has been exponential in the past few years. This is also where the Catecoin cryptocurrency captures its users. The cryptocurrency is a memecoin that is the first cat-themed catcoin with real-world applications. This is unlike other coins such as Shiba Inu and Dogecoin, which boast of being dog-themed meme coins.
What has made the catcoin cryptocurrency gain popularity with its user base is the first successful cat-themed memecoin. This has attracted investors who see it as a viable option with opportunities to grow and reach levels seen in other major memecoins such as Dogecoin and Shiba Inu. Based on the past 24 hours’ trading volume, the userbase is still enthusiastic about the project. This is after its trading volume increased by more than 17 per cent in the past 24 hours.
Catecoin Price Prediction
When analyzing a memecoin, it is important to put in mind that the price gains and loss are based purely on speculations with no underlying utility of the asset being traded. Looking at the 4-hour chart below, we see that the prices tried to break the $0.0000019 resistance level, failing each time.
However, the prices also looks like they are not likely to hit the $0.00000130 support level. This is based on the current momentum of the downward trend, which in the past has not been enough to push the memecoin downwards. The last few hours have also seen catecoin gaining in the markets.
My Catecoin price prediction is that the prices will return to the $0,00000199 resistance level. I also expect that if the prices hit this level, the prices to possibly break the support level after previously failing twice. This will likely set up a long-term bullish trend.
Catecoin 4-Hour Chart