Dogecoin and Mog Coin slide, traders move to Catslap

Traders move to new meme coin Catslap as Dogecoin and Mog Coin slide.

Dogecoin and Mog Coin have underperformed in the market, retracing by 0.5% and 4%, respectively. 

However, the new meme coin Catslap shows significant demand as top traders move in.

DOGE and MOG slide while other meme coins rise

Dogecoin and Mog Coin were red while every other top 10 meme coin booked marginal gains.

For Dogecoin, investors aren’t panicking yet. It remains up week-on-week and month-on-month. Judging by its recent momentum, bulls will absorb this decline in no time.

DOGE was trading at $0.4 at the time of writing, down 0.5% in 24 hours, up 2.8% this week, and 132% in the past month. It added $35 billion to its market cap this month. However, its 24-hour trading volume decreased by 24% to $4.25 billion.

Mog Coin has faced a stronger headwind this week. It was trading at $0.000002368 at the time of writing, down 4.2% in 24 hours and 19.6% in the week, but remains up 18% this month. 

MOG recorded a $920 million market cap and a $25 million 24-hour trading volume, down 46%.

Meme coin season to continue as DOGE sees golden cross

Despite DOGE and MOG slowing down, expectations remain high that their prices will continue to rally in the coming months.

Analyst KrissPax noted that Dogecoin is forming a golden cross as the 50-day moving average indicator crosses over the 200-day moving average.

This illustrates a bullish shift in momentum and suggests that a price rise will follow. KrissPax used Dogecoin’s 4-hour price chart and noted that the last time it formed a bullish cross (4 November) was the beginning of its previous parabolic rally.

Per the analyst’s price chart, this golden cross could catapult DOGE to highs of $1 before the year ends.

With that, it’s no surprise that analysts also predict big gains on the horizon for Mog Coin. A popular trader recently suggested that MOG will rally to $0.000014, which is over six times its current price.

If these price predictions play out, there’s no doubt that other meme coins will also perform well. As to which ones, traders are betting on Catslap as a promising opportunity.

Traders back Catslap after recent price explosion 

Catslap is a new Ethereum-based meme coin that rivals Solana’s Popcat. 

Mog Coin leads the way on Ethereum with a $920 million market cap, but Catslap introduces new ideas that could catapult it beyond Mog Coin’s success.

Having only just launched, Catslap has grown over 1,800% in the last seven days and gained more than 10k followers on X, making it one of the hottest breakout meme coins. 

The project has a gamified experience called Catslap Slapometer. Users can visit the project’s website and start slapping. The site collects the data and groups users into countries in the leaderboard, creating an exciting global competition.

Slapometer recently crossed 10 million slaps, so the team burned 10 million SLAP tokens to celebrate. They then introduced the Catslap Burned Tokens Dashboard, allowing users to track future token burns.

The team also recently alluded to turning “Click-to-Slap” into “Slap-to-Earn,” which would pay users for partaking. While there has been no official word yet, the project is set to release a “major announcement” in six days, which investors speculate could be that Slap-to-Earn is launching.

Notably, SLAP holders can stake their meme coins and generate a 40% staking APY, which Popcat and Mog Coin lack.

Based on all of this, analysts say Catslap could be the next big meme coin. Jacob Bury says it could 100x, which would give a $2 billion market cap and overtake Popcat.

Interested investors can purchase Catslap via its website DEX widget or using the Best Wallet “Upcoming Tokens” feature.

To get more information on SLAP, visit the Catslap Website.

This article first appeared at crypto.news