With the recent bullish sentiment shift in the crypto market, Solana has undergone a massive rally, providing traders with enormous returns. Due to the broader market recovery, traders also indulge in meme coins as they are known for massive rallies in a crypto bull run.
Meme coin enthusiasts are investing heavily in Popcat (POPCAT) and an emerging token, Cutoshi (CUTO), which is set to mimic Popcat’s massive return this year.
Solana (SOL) Moves In Triangular Consolidation After Massive Rally
After making a new all-time High (ATH) at $263.83 with the recent rally, Solana has faced a significant correction and has entered a range-bound price action between the $224 and $245 price levels. The price has dropped over 2.7% in the last 24 hours, and Solana trades over 12% below the ATH at $231.82.
Due to this correction, the Relative Strength Index (RSI) has dropped to 52 and the MACD oscillator is dropping fast toward the zero line, indicating increasing bearish momentum for Solana. The price has moved below the short-term 10-day and 20-day Simple Moving Averages (SMAs).
Solana is moving in a symmetrical triangle pattern and has bounced from the lower trendline of this pattern today. The price may continue consolidating within this triangle until a significant sentiment shift occurs. If the price falls, Solana has an immediate support level near $230 and two more significant supports close below this level at $224 and $220, which could stop the fall.
Will Popcat Regain Demand And Breakout For A Rally?
Popcat had been trending in an uptrend channel since August 2024 but faced significant bearish pressure near the $1.75 price and quickly fell below the lower trendline of this channel in early November. The Popcat price dropped to the support level at the $1.2 price mark and reversed from here due to the broader market turning bullish.
The price rallied over 60% within two weeks, and Popcat crossed the $2 mark and made an ATH at $2.07. After this new ATH, the momentum vanished due to a lack of demand,d and Popcat consolidated above the $1.75 price level. However, the bears applied pressure from this zone again, and the price again reached the $1.2 support level, correcting over 30%.
Popcat consolidated in the $1.2-$1.4 range for over a week but has moved above this and currently trades at $1.51. It is facing rejection from a crucial declining trendline. Popcat might break out of this trendline and go on another rally if demand reignites.
Cutoshi (CUTO): Hybrid Token Rivals Solana Meme Coins
Cutoshi is the new Ethereum-based hybrid token on the ERC-20 network that has seamlessly merged the fun aspects of meme coins with the practicality of utility tokens.
Its meme aspect is inspired by the Chinese Lucky Cat, famous for providing good luck and prosperity to its owners. Bringing the Lucky Cat to the blockchain via its native token, CUTO, Cutoshi aims to bring good fortune to its holders and their digital assets.
The utility part is inspired by Bitcoin and Satoshi Nakamoto’s vision of an efficient global DeFi economy in which the power lies in the hands of the people rather than a centralized organization.
Thus, Cutoshi has developed a harmonious meme ecosystem that offers members the best of the meme coin community and DeFi functionalities. To spread the mass adoption of DeFi, Cutoshi has also kept a learning academy in the ecosystem through which newcomers can learn about the complex Web3 concepts with easily understandable and engaging modules and transition into the decentralized economy faster.
The Cutoshi token presale has reached stage four and has raised over $1.32 million with the massive support of its growing community. CUTO is now valued at $0.031 and early investors who invested in the first stage doubled their money within weeks. Recent investors will also gain such quick ROI as the token’s value will surge similarly in further rounds.
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