Popcat up over 90%, as SHIB and DOGE see price declines
Over the previous 14 days, Popcat (POPCAT) has witnessed a strong bullish momentum, rising by 113.8%, whereas established meme cash like Dogecoin (DOGE) and Shiba Inu (SHIB) report worth declines.
Popcat worth evaluation
Over the previous seven days, Popcat has outperformed the general cryptocurrency market, with its worth growing by over 99% in comparison with a 3.90% lower within the world market.
It has additionally outperformed different meme cryptocurrencies, which have seen a 3.3% enhance in the identical interval. Popcat reached an all-time excessive of $0.6840 on Could 4.
The present worth is 12.5% under this peak. Conversely, the all-time low (ATL) was recorded on Jan. 5 at $0.0408, making the present worth 16,417.60% increased than its ATL.
On the time of writing, Popcat is buying and selling at $0.5844, with a 24-hour buying and selling quantity of $49,458,132. The token’s complete provide stands at 979.98 million POPCAT.
As seen on the charts, the outlook for Popcat is mostly constructive, with the worth anticipated to vary between $0.3922 and $0.9363, averaging round $0.6834.
POPCAT tokens will be traded on numerous centralized crypto exchanges. The preferred change for purchasing and buying and selling Popcat is OrangeX, the place the POPCAT/USDT buying and selling pair has a 24-hour buying and selling quantity of $4,447,410.83. Different common choices embrace Crypto.com Change and Gate.io.
The latest itemizing of Popcat on the Bybit change has been a major improvement for the mission. This itemizing and Bybit’s buying and selling competitors have contributed to the latest worth surge and elevated buying and selling quantity.
Shiba Inu, Dogecoin wrestle
Each Dogecoin (DOGE) and Shiba Inu (SHIB) have traded sideways, underperforming in comparison with different altcoins which have skilled reduction bounces.
DOGE and SHIB’s lackluster efficiency will be attributed to their sturdy constructive correlation with Bitcoin. Knowledge from IntoTheBlock reveals that the worth actions of those meme cash are carefully tied to Bitcoin (BTC).
Because of this, Dogecoin and Shiba Inu have mirrored Bitcoin’s latest uninspiring worth motion.
Technical evaluation additional paints a bearish outlook for these meme cash. Dogecoin’s web community development is declining, indicating a scarcity of recent customers getting into the ecosystem.
Moreover, Dogecoin whales have been comparatively inactive, with few giant transactions, suggesting weak investor confidence within the meme coin.
Shiba Inu faces related challenges, with its on-chain metrics flashing bearish indicators. The ‘Focus’ metric signifies that SHIB whales and traders are offloading a few of their holdings reasonably than accumulating extra of the meme coin.
As a result of their latest efficiency, each Dogecoin and Shiba Inu have dropped within the cryptocurrency rankings by market capitalization. Dogecoin has fallen from the eighth to the ninth place, whereas Shiba Inu has slipped from the eleventh to the thirteenth spot.
Regardless of latest setbacks, Dogecoin and Shiba Inu have comparatively wholesome 365-day MVRV (market worth to realized worth) ratios, indicating that holders stay worthwhile. Nonetheless, their potential for restoration is determined by a robust rebound within the broader cryptocurrency market.
Shiba Inu has additionally considerably elevated its burn fee, with over 29 million SHIB tokens destroyed prior to now 24 hours. This has sparked optimism amongst traders and helped the token surpass the $0.000025 mark.
Concerning worth predictions, if the present pattern continues, Shiba Inu’s worth could attain resistance ranges of $0.00002591, $0.00002966, and $0.00003719 earlier than the top of 2024. Conversely, if the pattern reverses, the worth might fall to assist ranges of $0.00001358 and $0.00001629.
Dogecoin trades at $0.1224 at press time, whereas Shiba Inu exchanges palms for $0.00001700.
