In the latest Solana meme coin pump, the new cat-themed coin ‘Aqua Cat on SOL’ (AQUACAT) has seen its price skyrocket by 33,895% overnight, as traders around the world try to get a piece of the pie.
This article will provide an analysis of AQUACAT’s current price trends and look to see whether a soon-to-launch meme coin, DOGEVERSE, represents a more promising investment opportunity at this time.
oh and the chart looks like this. higher #aquacat pic.twitter.com/COmPmKNGgQ
— Tuna (@_tun4_) May 6, 2024
Aquacat is unique among cat coins because it’s not exactly a cat. It’s a lovable sea-otter coin masquerading as a cat as he rides the waves of success in the high-octane Solana meme coin market.
As price action mounts a well-defended consolidation move, Aquacat on SOL is currently trading at a market price of $0.000910 (representing a 24-hour change of +24%).
This comes after AQUACAT launched at just 17:00 UTC on May 5, before mounting a multi-day +338,000% climb to hit an all-time high of $0.00134 at 13:00 UTC on May 6.
In the 24 hours since, price action has remained in consolidation, in a well-defended range between support at $0.0007 and resistance at $0.0012.
Meanwhile, markets remain highly indecisive – with buy-sell pressure completely equalized, representing 50% of transactions each over the past day.
Indeed, glancing at the RSI, price action has failed to cool off below minor bearish divergence despite the consolidation – suggesting a dip lower could form the lynchpin of the next upside move.
With a current market cap at $891k, current price levels represent a relatively alluring entry, with the potential 100x move on the cards if the project is able to sustain and grow like POPCAT.
But while AQUACAT marks an alluring entry
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