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The Catfish value skyrocketed 340% within the final 24 hours to commerce for $0.001192 as of three:15 a.m. EST time.
It comes amid rising market optimism after the Bitcoin value blasted previous the $50,000 psychological stage.
Meme cash are within the frontline for the altcoins benefiting from this broader market rally and CATFISH is trending excessive on Solana’s DEXTools scorching pairs.
? Catfish has simply entered Solana Dextools scorching pairs
Token: #CATFISH
Twitter: @catfishonsol
Dextools: https://t.co/aIxQGM3acY— CryptoTrending (@DexBotOG) February 13, 2024
Catfish Worth: Technical Evaluation
On the 4-hour timeframe, the Catfish value is sitting on an important Fibonacci stage, 61.8%, at $0.001193. The Relative Power Index (RSI) is southbound, suggesting falling momentum. Nonetheless, contemplating its place at 63, the value power is robust. The pullback comes as CATFISH was overbought, with the RSI beforehand above the 70 stage.
It subsequently seems to be a wholesome correction, with the bulls trying to refresh after exhausted purchaser momentum. The Shifting Common Convergence Divergence (MACD) can also be rising, transferring in constructive territory. These add credence to the bullish thesis.
Elevated shopping for stress may see the Catfish value overcome resistance because of the 786% Fibonacci stage at $0.001516. In a extremely bullish case, the beneficial properties may extrapolate to fill the market vary at $0.001926. Such a transfer would represent a 30% climb above present ranges.
TradingView: CATFISH/USD 4-hour chart
Converse Case For Catfish Worth
On the flipside, if promoting stress will increase, the Catfish value may lengthen the autumn to lose the assist because of the 50% Fibonacci stage at $0.0009670. Within the dire case, the meme coin may roll over to the 38.2% Fibonacci stage at $0.0007405.
However, for the prevailing bullish outlook to be invalidated, the Catfish value should break and shut under the 23.6% Fibonacci stage at $0.0004603. This might set the tone for the meme coin to lose the assist supplied by the ascending trendline.
Promising Different To Catfish
With meme cash benefitting from the power within the Bitcoin value, buyers are additionally taking a look at different promising alternate options for his or her portfolio diversification. Sponge V2 is the most recent meme coin sensation, arising after its forerunner, Sponge V1, was discontinued on Feb. 5.
? Consideration, #SPONGERS!
Right here is a few necessary data to recollect about $SPONGE V2!$SPONGE V1 has formally been discontinued, and V2 has been launched on #Polygon! ?
Be taught extra in regards to the token particulars under ?https://t.co/TCdxgXx40w
?1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
The token stands among the many meme cash that analysts say may report exponential beneficial properties at launch. The undertaking has migrated to the SPONGE V2 Polygon model of the digital asset, a transfer that was accelerated by a latest malicious assault on its liquidity pool.
? Vital data ?
Our V1 Snapshot can be taken on the fifth of February at 11pm UTC, $SPONGE V1 will then instantly be discontinued.
Comply with this thread emigrate your Decentralised and Centralised tokens to V2 earlier than it is too late! ?
? 1/4 pic.twitter.com/qPSTIX6dNT
— $SPONGE (@spongeoneth) February 2, 2024
The token will quickly checklist on a number of exchanges. Nonetheless, earlier than this occurs, the staking operate continues to present buyers a number of alternatives for incomes earnings passively.
Purchase and stake Sponge V2 to start out incomes rewards at present.
Women will come and go however $SPONGE will all the time keep! ??
Stake your $SPONGE tokens now earlier than February fifth! ⏰
Keep in mind, holders on each DeFi and exchanges ought to stake their Sponge V1 by our web site to have the ability to declare SPONGE V2.#SpongeV2 #Crypto #AltSeason #BTC #100x pic.twitter.com/VWqy88wDBA
— $SPONGE (@spongeoneth) February 4, 2024
Spongers will acquire tokens by staking $SPONGE earlier than the declare date. Token holders are at present having fun with annual share yields (APY) as excessive as 197%, with upwards of 8.196 billion tokens already staked. That is among the many the explanation why analysts rank it among the many prime 5 cryptos to spend money on now.
With the Solana hype fading, and Ethereum being the main altcoin, the latest bullish flip out there may probably encourage confidence in meme cash on its community. That recommend extra funding may quickly movement to initiatives like Sponge V2 that run on the Ethereum ecosystem.
Purchase and stake $SPONGE at present and it may arrange your crypto portfolio for spectacular returns, with crypto analyst Jacob Bury anticipating a attainable 1000X explosion at launch.
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