Cat In A Dog's World (MEW) Market Performance Shows Moderate Volatility After the Whale's Exit

The token traded between a 24-hour low of $0.009228 and a high of $0.009704, reflecting cautious market sentiment.

After a whale sold 416.8 million MEW tokens, securing a profit of 6,270 SOL ($1.52 million), the token’s market performance showed moderate volatility, trading between a 24-hour low of $0.009228 and a high of $0.009704.

At press time, MEW was down 25.4% from its all-time high of $0.01288, which was achieved on 17 November.

According to data from Lookonchain, the whale purchased the tokens on 15 July for 10,000 SOL, using a Dollar-Cost Averaging (DCA) strategy, and sold them for 16,270 SOL, securing a profit of 6,270 SOL ($1.52 million).

The selloff triggered a mild activity in MEW’s price as the market reacted to the sudden influx of tokens. This activity resulted in increased volatility and trading volumes, highlighting how whale transactions can significantly influence token prices and market stability.

An analysis of the MEW/USD 4-hour chart by AMBCrypto showed a consolidating price action following recent market volatility.

The price was hovering around $0.0095, attempting to recover from Tuesday’s lows of $0.0088.

The Supertrend indicator showed a bearish trend as long as the price remained below the $0.0102 resistance zone, marked by the red band. However, recent higher lows suggested growing bullish momentum.

The Accumulation/Distribution indicator showed a decline in demand with a value of -46.89M, indicating ongoing sell pressure.

MEW / USD 4-hour chart. Source: Tradingview

Despite this, the presence of multiple support bounces near the $0.009 level signaled that buyers were defending this key area.

If the price successfully held above $0.009, it could build a foundation for a bullish reversal.

Should MEW break above the $0.01 level, the trend may flip bullish, targeting an upside move toward $0.012.

The True Strength Index, while currently bearish, was approaching a potential crossover, which would confirm strengthening bullish momentum.

MEW price struggles as liquidity and interest fallMEW’s trading volume experienced notable spikes during price rallies, such as in early August when volume exceeded $1.8 billion, and late October, reaching over $1.5 billion.

These periods of high activity coincided with price increases, demonstrating strong buying interest.

However, since mid-November, trading volume has declined significantly, averaging below $500 million, as the price dropped from its peak of approximately $0.013 to its current range around $0.009.

The decline in volume showed reduced market participation and lower liquidity.

Open Interest in MEW Futures mirrored the price action, peaking at approximately $230 million during late October’s rally.

This rise in OI indicated strong speculative interest, with traders opening positions during the price surge.

MEW Futures Open Interest. Source: Coinglass

However, OI has since declined alongside the price, falling below $50 million by late November.

This reduction reflects a lack of new positions being opened and traders closing existing contracts, a sign of decreased confidence in sustained upward momentum.

The combined data highlighted a bearish shift in market sentiment. These trends suggested that for MEW to regain upward momentum, it requires a significant increase in both trading activity and speculative interest.