The price of popular meme coin Popcat ($POPCAT) is exploding today, even as the meme coin sector contracted an eye-watering 14% in the last 24 hours down to $62.3 billion.
Over the last day, Popcat grew in price by 7.7%, while its seven-day gains amount to 15%.
The token now retails at $1.54, after recapturing the psychologically important $1.50 mark in the early hours UTC, despite spending most of the weekend below it.
Popcat’s rally started on Thursday October 24, when the token rose to claim a new all-time high (ATH) of $1.67. The token’s current price represents an 8.1% pullback.
As previously mentioned, many traders exited meme coin positions in the last 24 hours.
This has had a negative effect on many leading cryptocurrencies, however, sector leader and original meme coin Dogecoin ($DOGE) is up 6.2% in the last hour.
Dogecoin appears to be broadly tracking market leaders Bitcoin ($BTC) and Ethereum ($ETH), which both rose a little more than 2% and currently change hands at $68,671 and $2,528 respectively.
Popcat’s Recent Performance
A glance at Popcat’s trading charts for the last three months shows a token testing new resistance levels, as highlighted by the setting of a new ATH on Thursday.
Source: TradingView
Broadly speaking, both resistance and support for Popcat have consistently climbed since late summer.
However, there are subtle indications that Popcat’s rally may peter out soon.
Firstly, Popcat is trading about five cents higher than its 30-day moving average.
This highlights the exceptional nature of Popcat’s performance over the last week.
Reinforcing this is a steadily rising relative strength index that currently sits at 58.
Should this rise to 70, the token will be over-valued.
This indicates some profit-taking is likely to happen by mid-week which will stabilize Popcat on or near to its current price.
Meme Coin Fans Exit PopCat For Crypto All-Stars $3 Million Presale
Popcat is a meme coin that was built solely for entertainment purposes. Given its clear lack of fundamentals, investing in it is virtually tantamount to gambling.
However, over in the presale market, some meme coin launches are easily and quickly bagging 10x or even 100x profits for investors.
Even in the meme coin sector, builders are adding and optimizing their utility, value, and community-building incentives to create some unmissable presales.
One new protocol called Crypto All-Stars hopes to change the negative perceptions around meme coins by letting crypto fans put them to work.
While meme coins’ inherent volatility attracts people, their whimsical nature also hinders their utility. Now, one team has found a way for meme coin holders to generate consistent value from their holdings.
Crypto All-Stars is a unified staking protocol that allows users to earn serious rewards by combining the world’s most celebrated meme coins.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them in the MemeVault and earn passive income in the form of $STARS with a rewards rate currently set at 549%.
The team says many more will be added soon.
Popcat could be a likely contender, given its high standing in the meme coin community.
The project has gained so much popularity that its presale has already raised over $2.8 million.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow Crypto All-Stars on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Stars Presale Website Here
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