Crypto’s biggest feline, the $1.23 billion market cap Popcat ($POPCAT), has tumbled the hardest out of any of the ten biggest meme coins in the last seven days and appears to be on a sustained losing streak.
Since last Thursday, Popcat has shed 17.4% of its price and currently trades at $1.26. A cursory glance at the historic data shows the asset’s recent price performance has been consistently negative. In the last fortnight, Popcat shed 33%, and over thirty days the meme coin depreciated by 28%.
This is abnormal when compared with other sector leaders. Dogecoin ($DOGE), the original and largest meme coin, is up 143% from thirty days ago, while Pepe ($PEPE), the biggest non-doge meme coin, has advanced 105%. Even Shiba Inu ($SHIB), which underperformed relative to its peers, still advanced 35% over the last month.
Clearly, Popcat has not been one of the best meme coins to buy this November.
Broadly speaking, the meme coin sector’s gains have largely been catalyzed by Bitcoin’s ($BTC). The world’s oldest and biggest cryptocurrency rose 34% over the last thirty days to trade at $95,394 as of this writing.
It is thought that Bitcoin’s software update back in April, which halved the issuance of new supply, alongside the re-election of pro-crypto US President Donald Trump, have spurred the latest rally, although it’s too early yet to call it a bull run.
Popcat: Is Crypto’s Biggest Cat Meme Coin Collapsing?
The question on the minds of ardent meme coin fans right now is whether or not we’re watching Popcat collapse. It’s hard to say with certainty because meme coins are so volatile, but the coin is certainly in the midst of a crash.
Between Wednesday, November 13, and Monday, November 18, Popcat posted a triple peak around $2 with the highest being on November 17, when the price rose to $2.05. Since then, the meme coin has lost 30% of its value, but there are signs that it could rally support and stabilize by December.
Firstly, support and resistance for the token have generally risen over the last three months, as shown by the respective green and red lines on the chart below. Popcat is now in danger of losing support. However, when we examine the relative strength index (RSI) we can see that the token has rarely been oversold over the period in question, and if it has, it’s been only a fleeting circumstance.
That tells us that, for the most part, Popcat holders kept diamond-hands about their stashes. However, with the festive season approaching, Popcat is now facing stiff competition from other cat themed meme coins, one of which launched last Thursday.
Investors Ditch Popcat For Catslap
Popcat could be on its way out of the top ten meme coins, and in its place a new viral cat-themed project is rapidly winning the hearts of crypto investors.
For the last week, investors have gone crazy over a viral Ethereum meme coin that debuted on Uniswap last week. Within 24 hours it had blown up over 1,500% as investors snapped it up, intrigued by the project’s tap-to-slap mini game.
The game is over on Catslap’s official website, where players click (or tap) the screen in order to animate a gif of the viral slapping cat.
The game logs each by country and distributes rewards to the nation at the top of the leaderboard.
The project’s X account already boasts almost 10,000 followers in less than a week of trading.
Catslap has a maximum supply of 9 billion, with 50% for liquidity, 20% to staking—where investors can earn 40% for locking up their tokens, 10% to community rewards, 10% to development, and 10% to its team (with this latter allocation vested for ten years).
Procure Catslap via Uniswap or directly via the official website, where 1 SLAP is $0.00244132.
The website urges investors to “buy and stake $SLAP before major announcement!” along with a timer displaying just over six days left.
Move over Popcat, because Catslap is Web3’s next viral meme coin.
The post Is Popcat Going to Zero? $POPCAT Is Down 30% In A Month, As This New Cat Meme Coin Is Taking Over appeared first on Cryptonews.
