Hoppy meme coin hits 2-month high as holders jump

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As a seasoned researcher with years of experience in the cryptocurrency market under my belt, I must say that the recent surge in Hoppy (HOPPY) has caught my attention. Having closely followed the meme coin phenomenon since its inception, I can attest to the unpredictable yet exhilarating nature of these digital assets.

As a proud holder of Hoppy, an Ethereum-rooted meme token, I’ve witnessed a significant surge that propelled it to heights not seen in over two months. This impressive rise can be attributed to a notable growth in the number of fellow investors joining our community.

Over the past two days, HOPPY experienced an upward trend, peaking at $0.00012 – its highest point since July 23.

The gathering displayed a similar trend to that of other internet-themed coins. For instance, Shiba Inu (SHIB) increased by 15% during the last week, while other meme coins such as Dogewhats (WIF) surged by over 40% within the same timeframe.

The surge in this performance is attributed to the recent recovery of Bitcoin (BTC), pushing its price up from approximately $52,000 earlier in the month to around $64,000. Typically, meme coins exhibit strong performance when both Bitcoin and Ethereum are experiencing growth.

Over the last thirty days, there’s been a significant rise in the count of Hoppy holders, moving from 13,200 on August 25th to 13,852 now.

In contrast to many other meme coins, Hoppy’s distribution is more varied, as the top ten token owners account for just 24%. Even more striking, the top 100 owners collectively hold 54% of all the tokens, as reported by Coincarp.

Smart trading with meme coins has made them one of the top sources of wealth creation this year. For instance, a trader who invested $9 in Hoppy back in July is now sitting on approximately $6,500 in gains. This same investor currently holds over $673,000 in potential profits, yet to be realized.

Hoppy has more upside

As a crypto investor, I’ve noticed some promising indications for Hoppy. It exhibited a double-bottom pattern, ranging from $0.000037, between August and September. Recently, it surpassed its neckline at $0.000083, reaching its peak on Aug. 26, suggesting there might be more room for growth.

Hoppy’s price has surpassed the 50% Fibonacci retracement level and the lower boundary of Andrew’s pitchfork indicator, and it has also climbed above its 50-day moving average, suggesting potential further growth towards the 61.8% retracement point which is located at $0.00013.

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2024-09-25 17:58