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Cryptocurrency News Articles

Catizen (CATI) Potential Rise Supported by Toncoin’s Network Momentum

Nov 08, 2024 at 04:00 pm

According to CobraVanguard, a well-known cryptocurrency analyst on TradingView, Catizen (CATI) is currently developing a falling wedge pattern on the daily chart.

Catizen (CATI) Potential Rise Supported by Toncoin’s Network Momentum

A close look at Catizen’s (CATI) daily chart reveals the formation of a falling wedge pattern, as highlighted by CobraVanguard, a renowned cryptocurrency analyst on TradingView. This technical setup has garnered attention among traders, who anticipate a bullish breakout from the wedge.

According to CobraVanguard, a breakout from the falling wedge pattern could propel CATI’s price to reach the Fibonacci level of 0.618, targeting $0.8 as a potential milestone. The token’s price is currently hovering around $0.3242, showing a decrease of 3.19% over the last 24 hours.

This analysis also considers the impact of network token sentiment on CATI’s performance. Toncoin’s network momentum is closely tied to CATI, suggesting that any positive developments in TON’s market performance could have a ripple effect on Catizen.

The synergy between Catizen and Toncoin is further evident in their gemeinsame ventures. As reported by CNF, Catizen has partnered with HashKey Group, a development that solidifies its presence within the Ton ecosystem.

This collaboration aims to promote Web3 gaming and digital asset services globally, with a particular focus on the Ton ecosystem. The partnership seeks to integrate Web3 experiences into traditional gaming through a unique and scalable approach to updating games using blockchain technology.

Moreover, Toncoin (TON) has witnessed a remarkable surge in user adoption, with the number of TON holders increasing from around 7.12 million to almost 108 million between March 15 and October 17. This surge has enabled TON to outpace Ethereum in acquiring new users, with an estimated daily growth rate of nearly 500,000 holdings.

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Other articles published on Nov 22, 2024