This week's review of the current cryptocurrencies is dominated by memecoin, taking positions one through four on the list. The only market without memecoin among the top five is bitcoin, which currently holds the fifth position. It should be noted that most of the top five markets have suffered losses in the last 24 hours, with the exception of Cate.
However, Bitcoin (BTC) stands out as the only market with a steady upward trend over the past seven days, even taking into account its small 24-hour loss. Among the top five, the KITE has been particularly impressive, achieving a significant gain of 28.7% over the past 24 hours. Let's delve deeper into the analysis of each market to get a clearer picture of their individual performance. Simon's Cat (CAT) Major Divergence: bullish Leading the pack is the Simon's Cat market, which despite a small loss of 2.3% over the past 24 hours, remains on an upward trajectory. Although the upward momentum is slowing, the market is successfully maintaining higher lows. Simon's Cat is a relatively new entrant that appeared on the chart on August 22. The noise from the early launch likely contributed significantly to its surge higher as the price rose from $0.00000106 to almost $0.00003 by the end of the month. On August 27, investors showed a strong desire to take profits, but a significant number remained optimistic, resulting in high trading volume, especially during the third four-hour session. Despite the high trading volume, the price remained stagnant for the session due to a balance between supply and demand. This was followed by a period of consolidation. The price has now advanced to approximately $0.0000328, but is now slowing down. Although a downtrend seems unlikely in the short term due to low trading volume, a break below the $0.00003 level could potentially initiate a bearish phase. Current Price: $0.0000309 Market Cap: $223 million Trading Volume: $85 million
Cate (CATE) Underlying Bias: Indecision As noted in the introduction, the Cate market stands out for its optimistic outlook, as evidenced by its recent performance. This market has been launched recently. According to CoinMarketCap, it has seen a remarkable increase of 4,51% over the past seven days and an increase of 28.7% over the past 24 hours. Although the Cate market continues to benefit from early-stage optimism, it may be approaching a potential turnaround to establish a more stable price level. As shown in the chart, the market is currently facing resistance at $0.05. This development of the crypto signal may lead to profit-taking by investors.
Current price: $0,0408
Market capitalisation: $41 million
Trading volume: $28 million
Dogs (DOGS)
Main bias: indecisiveness
Another market that has recently attracted attention is DOGS. Unlike other newly released memecoins featured in this week's analysis, DOGS entered the market during a period of prevailing pessimism among the investor community. This lack of optimism early on hindered the market's ability to reach higher price levels compared to its starting point.
Since its launch, DOGS has aimed to capture the $0.0012 level, but has consistently remained below that threshold. The market is currently trading around $0.001, indicating a balance between supply and demand at this level.
Current price: $0,00108
Market capitalisation: $557 million
Trading volume: $348 million
Department of Government Efficiency (dogedepartment.com) (DOGE)
Main bias: Bear
In fourth place is the Department of Government Efficiency marketplace (dogedepartment.com). After reaching a high of $0.0003 yesterday, the market experienced a downtrend with declining highs. However, the bears failed to maintain the momentum and the bulls successfully defended a crucial support level at $0.00001, reversing the market's downward direction.
Investors should closely monitor the market performance around the price level of $0.000016. A break above this level could signal an upward shift, potentially leading to a price correction towards $0.00003.
Current price: $0,0000158
Market cap: $6.6 billion
Trading volume: $824 million
Bitcoin (BTC)
Main deviations: bulls
Bitcoin bulls demonstrated impressive resilience by successfully defending the $54,000 support level. Price has bounced off this threshold multiple times, reinforcing its importance as a formidable upside zone capable of resisting bearish pressure.
Although bitcoin (BTC) is the only market showing a consistent upward trend, apart from its small 24-hour loss, it is currently experiencing a temporary reversal. However, upside activity is evident around the $60,000 level, with traders actively buying in this area. The lower shadow of the current candlestick indicates potential bullish momentum. The market may resume its upward trajectory in the next trading session.
Current Price: $59,967.60
Market cap: $1.2 trillion
Trade volume: $20 billion
