The wait for the altcoin season continues. However, the cat-themed meme coins are taking center stage. 

These feline-inspired tokens are outperforming major altcoins and are also setting new all-time highs, signaling the onset of a “Cat Season” in the crypto market, as noted by popular analyst Bluntz.

“catszn is truly underway” said Bluntz

Popcat Hits a New ATH

POPCAT, a Solana-based meme coin, hit a new all-time high today, reaching $1.67 after consistent gains throughout October. This marks the third ATH for the meme coin this month, solidifying its strong upward momentum. The coin’s continued rise has captured the attention of investors, boosting confidence in its short-term growth potential.

Many investors are optimistic that POPCAT could surpass $2.00, provided holders remain resilient and avoid taking profits too early. A continued rally will require sustained confidence in the coin, as profit-taking could undermine its upward trend.

Read More: How to Buy Solana Meme Coins: A Step-By-Step Guide

However, if selling begins, POPCAT could experience a significant drawdown. With the next major support at $1.00, a sell-off could erase much of the recent gains, potentially invalidating the current bullish outlook and leading to further market volatility. 

cat in a dogs world (MEW) Forms a New All-Time High

MEW has reached a new all-time high of $0.0106, marking its fourth ATH in the last 14 days. The cat-themed meme coin has continued its upward trend, generating significant interest from investors. This streak of rising prices highlights the growing momentum behind MEW, making it one of the top performers in the meme coin market.

In the last 24 hours, MEW saw a 15.6% increase, preventing a potential drop below $0.0090. This rise offers investors a chance to capitalize on profits as the coin continues its bullish trajectory. The support at $0.0090 remains crucial to sustaining the current upward momentum.

However, like POPCAT, MEW faces the risk of profit-taking by investors. Should large-scale selling occur, it could erase recent gains, potentially invalidating the current bullish outlook.

Simons Cat (CAT) Makes a Massive Jump

CAT has been one of the best-performing cryptocurrencies this week, surging nearly 80% in just four days. The meme coin is currently trading at $0.00004379, capturing significant attention from investors. Its rapid price appreciation highlights this digital asset’s strong bullish sentiment, making it stand out in the market.

Currently, CAT is just shy of its all-time high (ATH) of $0.00004650, which was reached around a month ago. Given the ongoing upward momentum, CAT is well-positioned to breach this level and potentially set a new ATH, further reinforcing the bullish outlook for the coin.

Read More: 7 Hot Meme Coins and Altcoins that are Trending in 2024

However, if CAT fails to break past its current ATH, a pullback to $0.00004063 could occur. A further decline below this level could push CAT down to $0.00003410, which would invalidate the bullish thesis and suggest a potential bearish trend on the horizon.

ApeCoin (APE) price is down roughly 15% in the last 24 hours after rising more than 100% between October 19 and October 21. The MVRV suggests that many holders are still in a position of unrealized losses, indicating weak market sentiment.

The RSI also shows a shift from overbought conditions, implying that bullish momentum may have diminished. Despite some signs of support, key levels and trend indicators suggest that the current correction might not be over yet.

APE MVRV Shows an Important Signal

The APE 7D MVRV is currently at -11.85 %, which indicates that, on average, holders of APE tokens have experienced unrealized losses of 11.85% over the past week. MVRV (Market Value to Realized Value) is a metric used to assess token holders’ average profit or loss.

The 7D MVRV specifically looks at the profit or loss of investors who acquired their tokens within the last seven days. Negative values, like -11.85%, suggest that the majority of recent buyers are underwater, meaning they bought APE at higher prices than it is currently trading at.

Read more: ApeCoin (APE) Price Prediction 2024/2025/2030

Despite the current negative 7D MVRV reading, historical data from the past six months suggests that APE tends to make strong rebounds whenever the MVRV reaches the -13% level. This implies that there is often significant buying interest around such deeply negative MVRV levels, leading to a price reversal.

However, since the current MVRV value has not yet reached that historical rebound threshold, the ongoing correction may not be over, and further downside movement is possible before any significant recovery.

ApeCoin RSI Is Now Neutral After a Huge Surge

The APE RSI is currently at 45.68, having dropped from over 90 just a few days ago following a rapid 100% price surge in just two days. That happened after the announcement of ApeChain, Yuga Labs own blockchain. The RSI (Relative Strength Index) is a momentum indicator used to gauge whether an asset is overbought or oversold.

RSI values range from 0 to 100, with levels above 70 typically indicating an overbought condition—suggesting the asset may be due for a correction. On the other hand, values below 30 indicate an oversold condition, implying potential buying opportunities.

With the current RSI level at 45.68, APE is neither overbought nor oversold, suggesting a neutral momentum after its recent pump. This level indicates that the token is still in a corrective phase, with the potential for more downside movement before reaching oversold territory.

Since it has not yet dropped below the 30 mark, which would signal oversold conditions, the ongoing correction could continue further before any significant reversal occurs.

APE Price Prediction: Will It Go Below $1?

The EMA lines on the APE chart suggest a rapid change in momentum following the recent price pump. The shorter-term EMAs have sharply risen above the longer-term EMAs, indicating that bullish momentum was strong during the rapid surge.

However, with prices now pulling back to around $1.20, the narrowing gap between these EMAs suggests that the bullish momentum might be fading. The proximity of the EMAs also points towards potential consolidation or a lack of clear direction moving forward.

Read more: ApeCoin (APE): Everything You Need To Know

Regarding support and resistance, APE has several key levels to watch. Resistance levels are at $1.34, $1.47, and $1.82, the biggest price for ApeCoin since April. On the downside, support is marked at $1.12, $0.94, and $0.78.

If APE fails to hold the $1.12 support, further downside correction toward $0.94 or even $0.78 is possible. Conversely, if the uptrend appears again, APE price could test the $1.34 resistance and even try $1.47 after that.