Solana’s Cat-Themed Tokens Knowledge 11% Decrease: Is the Rally of Cat Memecoins Coming to an Conclusion?

• The marketplace for meme cash observed a significant drop in volume as very well as rate.
• Some sector indicators hinted at the chance of a shift in pattern.

There has been a surge in attractiveness for meme cash like POPCAT and cat in a puppies planet [MEW] that are based mostly on Solana [SOL].

These meme cash have demonstrated high levels of volatility, tough established canine-centered meme coins like BONK and dogwifhat [WIF].

MEW and POPCAT on the Increase

Though pet-based mostly coins like Dogecoin [DOGE] and Shiba Inu [SHIB] have dominated the meme coin industry for years.

The introduction of cats-based mostly meme cash like POPCAT and MEW suggests a change in this craze.

SolanaFloor, a distinguished source for blockchain updates, tweeted about the current boost in marketplace capitalization for MEW and POPCAT.

Just a couple of days ago, AMBCrypto described that MEW had found a outstanding 200% surge in benefit around the past month, surpassing POPCAT in market capitalization.

Even with these spectacular gains, both meme coins professional a sharp decline in price, with MEW and POPCAT dropping by more than 11% in the previous 24 hours.

Presently, MEW is buying and selling at $.004315, whilst POPCAT is valued at $.4157.

Is the Enjoyment Diminishing?

Evaluation from Santiment’s data by AMBCrypto indicated that the volumes of both of those meme coins took a hit along with their charges.

A decrease in quantity and value generally indicators a small-term downturn in the rate trend.
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Resource: Santiment

In gentle of this, we delved into the 4-hour charts of equally meme cash to gauge their potential trajectories. The MACD of MEW confirmed a bearish craze, but its Relative Energy Index (RSI) hit the oversold zone, indicating potential shopping for pressure and a subsequent value boost in the in the vicinity of foreseeable future.

On the lookout at Coinglass’ information, we noted a fall in MEW’s Open Interest in tandem with its cost, signaling a probable reversal in pattern.

Resource: TradingView

Even though there is hope for a bullish turn in MEW’s selling price, the similar can not be stated for POPCAT, as its RSI indicated a downward movement from the neutral zone, suggesting a even more decrease in value just before a potential rebound.

While MEW and POPCAT could deal with price tag declines, their swift expansion has sparked conversations in the crypto neighborhood.

Curious about MEW’s market cap in BTC? Obtain out below!  

With a bearish trend in the market in accordance to MACD, it will be exciting to see how these cat-themed meme coins navigate by their the latest setbacks.

We will be keeping an eye on how quickly they can bounce back from their the latest dips.

Supply: TradingView