As a researcher with experience in the cryptocurrency market, I believe that the recent surge in Cat in a Dogs World (MEW) price is a result of the positive news from Binance. The announcement of listing MEW’s token in its perpetual futures marketplace has given investors confidence in the coin, leading to a significant price increase.
As a researcher studying the cryptocurrency market, I’ve observed an intriguing development in the price trend of MEW (Cat in a Dogs World) following favorable updates from Binance. For three consecutive days, the token has surged, reaching its peak at $0.0050 – a level not seen since June 11th. This impressive rally represents an astounding increase of over 42% from its previous low on Friday.
In a noteworthy turn of events, Cat in a Dogs World, a widely recognized meme token on the Solana blockchain with a market capitalization surpassing $432 million, experienced a significant rally on Monday amidst a general downturn in cryptocurrency markets. The cause for celebration among investors was an exciting announcement made by Binance, the globally dominant crypto exchange.
Binance announced that it will make its token available for trading in its perpetual futures marketplace. This means users can now trade the futures contracts with up to 50 times leverage. Typically, the value of cryptocurrencies increases following their listing on major exchanges.
As a researcher studying the cryptocurrency market, I’ve come across an intriguing newcomer called Cat in a Dogs World. Launched just a few months ago, this meme coin aims to make its mark among established dog-themed tokens such as Shiba Inu, Floki, and Baby Doge Coin.
As a researcher studying the crypto market, I’ve observed that at its zenith, MEW (Meme Economy Wagmi) boasted a market capitalization in excess of $586 million. This impressive figure placed it among the largest meme coins presently in circulation within the industry. However, much like other tokens, MEW has experienced a retracement and has largely relinquished its earlier gains as the sentiment towards crypto has deteriorated.
Despite this, information from DEXTools indicates that more than 183,000 investors currently hold this meme coin, placing it among the most popular in the meme coin market.
Cat in a Dogs World price forecast
On May 20th, the four-hour price chart indicates that MEW hit its lowest point at $0.0028 during the intense sell-off of meme tokens. However, it has since bounced back and attempted to surmount the significant resistance level priced at $0.0050.
The token’s price has rebounded, surpassing both its 25-day and 50-day Exponential Moving Averages (EMAs). Additionally, it has climbed above the Woodie pivot line and moved into the Ichimoku cloud indicator.
As a researcher studying market trends, I’ve noticed that oscillator indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have been signaling positive movements in the market. Specifically, the RSI is approaching the overbought threshold, suggesting potential for further price increases.
Based on current market trends, it’s expected that the Cat in a Dogs World token price will keep climbing towards the first resistance level at $0.005500, with buyers continuing to drive up the price. However, once the excitement surrounding its Binance listing subsides, the token is predicted to resume its downward trend.
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2024-06-17 18:51