Crypto News-Announcements

Sillycat Price Prediction: SILLYCAT Surges 125%, Leaving Competitors Meow Meow Coin, Popcat, and Taylor Swift’s Cat Trailing, But Traders Ey…

By Inside Bitcoins

The Sillycat price soared more than 125% over the past 24 hours to trade at $0.000000005122 as of 12:20 a.m. EST as investors rush to get in early on the new meme coin.

During the same period, SILLYCAT left the other top performing cat-themed coins, Meow Meow Coin (MEOW), Popcat (POPCAT), and Taylor Swift’s Cat (BENJI), trailing in the dust, according to CoinGecko data.

The Sillycat Price Breaks Out Of Consolidation

The Sillycat price managed to break out of the short-term consolidation channel between $0.000000002739 and $0.000000005248 over the past couple of hours. Should it close an hourly candle above the upper boundary of this zone in the next 6 hours, it may have the foundation needed to rise to the next major resistance level at $0.000000007158. Continued buy pressure may then boost the meme coin to as high as $0.000000008303 in the coming 24-48 hours.

This bullish thesis may be invalidated if the Sillycat price closes an hourly candle below $0.000000005248 in the next few hours. In this alternative scenario, the crypto may fall to the lower boundary of the aforementioned sideways channel at $0.000000002739.

The Sillycat Price May Correct Soon As Bulls Lose Strength

Technical indicators on the altcoin’s 1-hour chart suggest the crypto is currently in a short-term bullish cycle. However, buyers seem to be losing their strength against sellers, which could be the early sign of a bearish trend reversal.

The 9 Exponential Moving Average (EMA) line is above the longer 20 EMA line on the hourly chart. This indicates that momentum over the past 9 hours has been more bullish than SILLYCAT’s momentum in the past 20 hours. A positive trend line has also emerged on the meme coin’s hourly chart after the altcoin printed a second higher low earlier today. Both of these are bullish technical flags.

However, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the hourly chart are starting to show bearish signs. The MACD line is dropping towards the MACD Signal line. Traders may see this as an early signal that the meme coin’s bullish trend will end soon. In addition to this, the slope of the RSI line is negative, which could suggest bulls are losing their strength against bears. 

While the Sillycat price attempts to challenge resistance, experts say Sponge V2 could 100X on launch, like its predecessor $SPONGE did on launch. It’s up 166% already in the past week. 

A Promising Alternative

Sponge V2 is the latest iteration of the popular SPONGE meme coin. During the 2023 bear market, the altcoin reached a peak market cap of $100 million. Now, the team aims to give investors who missed the 100X growth last year a second opportunity at substantial gains through the V2 launch.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *