This Is Why Cat Season Is Overtaking Altcoin Season

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.