Popcat Price Prediction: POPCAT Plunges 8% As Investors Flock To This New Meme Coin Rival For Parabolic Gains

The Popcat price nosedived by over 8% in the past 24 hours, reaching $1.34 at 11:12 p.m. EST as traders liquidated their holdings in the meme coin.

This decline continues Popcat's negative weekly performance, pushing the altcoin over 26% into the red over the past 7 days.

Popcat Price Perched on a Critical Support Level

A GeckoTerminal 4-hour chart for POPCAT/USD illustrates that the Popcat price is currently testing a critical support level of $1.2475. Breaching this technical safety net within the next 12 hours could prompt the meme coin to tumble to the subsequent support at $0.9256 over the following couple of days.

Conversely, a rebound from the $1.2475 level in the coming 12 hours could halt the bearish momentum. In this scenario, the crypto may attempt to challenge the resistance level at $1.5694. Surmounting this obstacle could pave the way for POPCAT to rise as high as $1.8751.

Bears Maintain Control over Popcat Price

Technical indicators on POPCAT's 4-hour chart signal that sellers possess a slight advantage over buyers. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators both indicate bearish dominance. However, early indications suggest a potential shift towards bullish momentum.

The RSI suggests that POPCAT is nearing oversold territory, with its current value hovering in the mid-30s. Some traders may perceive these low RSI readings as an opportune buying moment, as evidenced by a recent uptick in the indicator's values.

If additional buyers enter the meme coin's charts over the next 8 hours, we could witness a spike in RSI readings, potentially accompanied by a rise in the Popcat price.

However, momentum still favors the bears, as the MACD line's position below the MACD Signal line indicates a potential short-term drop in the Popcat price. While the gap between the two lines is widening, signaling an intensification of bearish momentum, the flat Histogram readings suggest that buyers may aún have the potential to sway the momentum in their favor.

As POPCAT grapples with selling pressure, investors have flocked to a new rival meme coin dubbed Catslap (SLAP), which has experienced a meteoric rise since its launch last week.

Catslap Surges Amid Speculation of Tier-1 Exchange Listing

The Catslap Token has made a strong debut since entering the market just days ago, with its price skyrocketing from $0.0001179 to an all-time high of $0.006912. It has since corrected to $0.003266, but SLAP remains over 3,100% higher since its launch.

This strong performance may just be the beginning. An analyst from the Crypto Gains YouTube channel, with over 134K subscribers, believes SLAP has the potential to surge by another 100X.

The team's decision to launch the project on a decentralized exchange (DEX), bypassing the traditional presale route, is a contributing factor. Trading immediately on a DEX eliminates the risk of post-presale dumps commonly experienced by many projects. It also provides every investor with a fair opportunity to participate in the project at its nascent stage.

Despite its recent inception, the meme coin has amassed over 6.29K holders and boasts daily trading volumes in the millions of dollars, indicating significant interest in the project. This heightened activity is anticipated to continue in the lead-up to a "major announcement" from the Catslap team in approximately 8 days.

Many speculate that this announcement could involve a listing on a tier-1 exchange. Given the current traction around SLAP, it is not far-fetched to imagine that a major platform may have already taken notice of the meme coin. Recent listings of Dogwifhat by Coinbase and Robinhood demonstrate that these exchanges are receptive to popular meme coins like SLAP.

Could Catslap Emulate the Success of Hamster Kombat?

Others speculate that the Catslap team might unveil a play-to-earn (P2E) feature for the project's native game. While there has been no confirmation of this feature's implementation, the allocation of 10% of the token's supply to community rewards hints at its possibility.

If a P2E element is introduced, Catslap could replicate the virality of the renowned Telegram mini-game Hamster Kombat and its HMSTR token, which has a market cap exceeding $244 million despite a 62% decline from its all-time high.