Simon's Cat Price Prediction: CATUSD Token Surges 17% as It Breaks Above a Bullish Pennant

The Simon's Cat price surged 17% in the last 24 hours to trade at $0.00002261 as of 6:00 p.m. EST on a 5% rise in trading volume to $87 million.

The price of Simon’s Cat (CAT) has surged 17% in the last 24 hours to trade at $0.00002261 as of 6:00 p.m. EST on a 5% rise in trading volume to reach $87 million. The meme coin’s price initially faced resistance at the $0.00002205 level, but it managed to break through this resistance and continue its uptrend.

The CAT/USD 1-hour chart shows a shift from a bearish trend within a descending channel to a potential bullish breakout. According to GeckoTerminal data, the meme coin’s price was initially stuck in a downtrend between roughly $0.00002205 and $0.00001900, indicating ongoing downward pressure.

However, the price has formed a rounded bottom pattern near the $0.00001910 level, signaling a possible reversal as buyers gain momentum. Currently, the price sits around $0.00002245, having broken out of the bearish channel and moved above the 50 Simple Moving Average (SMA), now positioned at about $0.00002047.

CATUSD Analysis Source: Dextools.io

The price now faces a resistance zone between $0.00002250 and $0.00002400, an area previously acting as a supply zone. This level is critical for developing a cup and handle pattern.

The Moving Average Convergence Divergence (MACD) indicator also shows bullish signs, with the MACD line (blue) above the signal line (orange), suggesting that buying pressure is currently stronger than selling pressure.

However, the histogram bars have declined in height, which could indicate a temporary pause or weakening in momentum before the next move higher. The bullish momentum will be kept intact if the MACD line stays above the signal line. On the other hand, if the prior crosses below the latter, it could signal a shift to a bearish trend and a possible pullback.

Meanwhile, the Relative Strength Index (RSI) is at 52.30, indicating a neutral momentum. This level is near the midpoint of the RSI scale, indicating that the market isn’t currently overbought or oversold, leaving room for further price gains without the immediate risk of a reversal.

If the RSI continues climbing towards 70, it would confirm strengthening bullish momentum and likely result in the formation of a cup and handle pattern.

Simon’s Cat Price Prediction

The CAT price is currently at a crucial juncture. If it breaks above the resistance zone at $0.00002400, it will likely confirm the cup and handle pattern, potentially driving the price toward the take-profit range of $0.00002800 to $0.00003000.

However, if the price fails to overcome the $0.00002400 resistance, it may continue the downturn to the 50 SMA at $0.00002047 or even further down to the rounded bottom support at $0.00001910. Nevertheless, the overall trend is expected to stay bullish as long as the price holds above the 50 SMA, supporting the potential for continued upward movement in the short to medium term.

Pepe Unchained Storms Past $11 Million – Next 100X Meme Coin To Explode?

A the Simon’s Cat price attempts to keep its bullish momentum alive, investors are also buying into the layer-2 meme coin Pepe Unchained ($PEPU). This new layer-2 meme coin has just zoomed past $11 million in early funding, signaling strong investor confidence in the project’s future.

According to an analyst from 99Bitcoins, a prominent crypto channel on YouTube, PEPU has 100X potential and is one of the best cryptos to buy now.

Pepe Unchained is more than just a Pepe-themed coin. It leverages the meme coin trend while introducing innovative technologies that appeal to crypto enthusiasts looking to enhance their profits.

Pepe Unchained combines utility with meme appeal, featuring a creative depiction of Pepe with a large brain, helping it carve out a unique niche in the crowded meme coin market.

We’ve smashed through $11M! 🐸💪 pic.twitter.com/gmbUxi6JhL

— Pepe Unchained (@pepe_unchained) August 29, 2024

Unlike many other projects, it utilizes layer-2 technology to address the shortcomings of layer-1 networks. PEPU’s seamless integration with Ethereum also ensures smooth transfers and compatibility with decentralized applications (dApps).

The project offers