CateCoin (CATE) is doing the cat walk as it skyrockets by over 250% amid the crypto market’s bizarre movement. CATE’s steady, but slow gains show how even low-market cap coins can grow and offer decent rewards.
Prices Rise by 16.63% at CATE
CoinMarketCap reports that the CATE meme currency is steadily rising as it raises its price by 16.63%, or 0.000001057. CATE’s price has risen more due to increased trading activity and social media hype.
The technical analysis for the weekly charts shows that CATE is on the rise as it continues to break through the third green candle. CATE recently surpassed the resistance zone of $0.000000714 & $0.000000779, which has been made into support zones.
CATE, however, was able to break the resistance of $0.00000103 for a while but is now back on track.
CateCoin’s volume has been a boon. The bull flag structure of CATE could also be seen as a potential breakout on the upside. CATE could revert to $0.000001 if it maintains its price momentum.
A second scenario would be for CATE to switch into bearish mode, losing its bull flag and triggering a bearish momentum. It is doing better than most cryptos because it has been able bounce off the support zone. This was evident by the correction made at the Fibonacci level of 0.236.
CATE’s price could rise to $0.0000013 if it can keep its momentum. However, all of these will depend on Bitcoin’s 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
CoinMarketCap shows that CATE currently has $29 Million in market capital. CateCoin’s value will increase by 10-20x with consistent, higher traction.
CATE, the meme coin is unique in that it allows meme creators to earn NFTs from their memes.
CateCoin has been referred to as the strongest meme coin on the market at the moment. CATE offers so many benefits that it can be used to augment the other meme coins.
Cate offers gaming, NFTs and mobile wallets. The best part about CATE? Long-term investors can earn up to 15% in APY when they stake. Investors also get 2% of transaction fees.
Source: TradingView.com| Source: TradingView.com Featured image by Zee News. Chart by TradingView.com