CateCoin (CATE) is doing the cat walk as it skyrockets by over 250% amid the crypto markets bizarre movement. The slow yet steady gains of CATE shows how low market cap coins can advance and give decent rewards.
CATE Pumps Up Price by 16.63%
According to CoinMarketCap, CATE meme coin is rising steadily as it pumps the price by 16.63% or 0.000001057. More so, CATE has spiked in price triggered by the increase in trading activity and hype coming from social media.
Judging by the current technical analysis on the weekly price charts, CATE is soaring as it consistently edges through the third straight green candle. CATE has recently been able to outrank the $0.000000714 and $0.000000779 resistance zones which have been turned into a support zone.
Accordingly, CATE was able to breach the $0.00000103 resistance level for a bit there but has now retraced.
No doubt, CateCoin is extremely bullish especially as it racked up in terms of volume. CATE is also shaping up into a classic bull flag pattern with the potential of breaking out seen on the upside. If CATE can keep this price momentum going, then it can revisit $0.000001.
Another scenario is if CATE switches into bearish mode and lose its bull flag precipitating a bearish reversal momentum. CATE coin is performing way better than other crypto as it was able to bounce from the support zone as shown with its correction on the 0.236 Fibonacci level.
If CATE can maintain its traction, its price can shoot up to over $0.0000013 at the end of this year. However, all of these will depend on Bitcoins performance because the king of crypto influences how the other meme coins perform and behave in the market.
CATE Consistent Traction May Push Price Higher
According to CoinMarketCap, CATE has a very low market capital of $29 million. With that being said, increased and consistent traction will lead to a pump in value to as much as 10x to 20x for CateCoin.
In a space dominated by dog meme coins, CATE is the first-of-its-kind meme coin that enables meme creators to create and earn from NFTs.
Right now, CateCoin is depicted as one of the most powerful meme coins in the market. CATE has so much to offer that encompasses the value of other meme coins.
cate offers NFTs, gaming, mobile wallet, and Dapps. More so, one of the selling points of CATE is that long-term investors can easily generate up to 15% APY when they stake and 2% of the transaction fees are dispersed to investors.
Crypto total market cap at $1.06 trillion on the daily chart | Source: TradingView.com Featured image from Zee News, chart from TradingView.com