NAIROBI (CoinChapter.com) — Solana memecoins are gaining attention as top performers in the market, with their collective valuation crossing $12 billion. Among the most notable are Goatseus Maximus (GOAT), Popcat (POP), and Cat in a Dogs World (MEW), all showing strong price movements.
Goatseus Maximus (GOAT) Leads the Solana Memecoins Surge
Launched on Oct. 10, 2024, Goatseus Maximus (GOAT) has stormed the Solana memecoin sector. Within just two weeks, the token reached a market cap of over $607 million, propelled by rumors that the Marc Andreessen-funded AI bot, Truth Terminal, launched the token.
Although this was false, Truth Terminal promoted GOAT on X, creating a wave of hype that sent the token soaring.
According to David Zimmerman, an analyst at K33 Research, AI memecoins like GOAT have gained “massive attention” due to their unique position at the intersection of artificial intelligence and memes. He further noted that many tokens within the sector have surpassed the $100 million market cap mark, making them significant players across the Solana network.
In the past week alone, GOAT posted a 35.5% gain, a staggering 167.6% rise over the last seven days. It remains the top performer in the Solana memecoin space, drawing interest from both retail investors and traders looking for quick profits. The token now hovers near the $1.60 resistance level, and with bullish momentum intact, traders are eyeing further gains.
Popcat and Cat in a Dogs World Maintain Momentum
While Goatseus Maximus steals the headlines, Popcat (POP) and Cat in a Dogs World (MEW) are also attracting attention. In the past 24 hours, the token has gained 18%, with a 36.5% rise over the last week, pushing its price to $1.63. Popcat’s momentum has drawn attention, but what really stands out is the recent $3.4 million outflow from centralized exchanges (CEXs) over the last 24 hours, which is 2.15x higher than its recent average.
Popcat is trading above the 50-day and 100-day EMAs, currently at $1.099 and $0.8967. This suggests the uptrend is still strong, with these EMAs likely to act as support if any short-term pullbacks occur.
Popcat faces immediate resistance near $1.70, and a successful break above this level could see it testing the $2.00 psychological barrier. On the downside, if a correction occurs, the $1.40 level provides initial support, with stronger support at $1.099 (the 50-day EMA).
Cat in a Dogs World (MEW) Sees Strong Gains as Bulls Push Higher
Cat in a Dogs World (MEW), also launched in late March 2024, is another new Solana memecoin showing strong resilience. It is priced at $0.01057 and has a 15.1% gain amid the ongoing market dip.
Currently, Cat in a Dogs World (MEW) resides near the upper Bollinger Band, suggesting the increasing volatility. The spread of the bands suggests greater price action to come. Furthermore, the Relative Strength Index (RSI) is 73.10, which is overbought. An RSI above 70 typically means there’s a likelihood of a price correction and therefore we might see some downward movement in the prices shortly.
Finally, the Solana memecoin market is growing exponentially, with a market cap of $12 billion. Despite this, Goatseus Maximus (GOAT) has risen by nearly 167% in the past week, and Popcat (POP) and Cat in a Dog’s World (MEW) have also experienced strong price movements.
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