MEW Poised to Break Through Psychological Barrier
The token Cat in a Dog’s World (MEW) has achieved a market capitalization of $1 billion, establishing itself as a significant player in the cryptocurrency market. A recent 9% surge in the last 24 hours pushed its price to $0.01218, attracting considerable investor attention. The question now is whether MEW can continue its bullish trajectory and reach the psychological barrier of $0.02.
Technical Analysis: MEW Demonstrates Strength
Daily Chart Signals a Bullish Trend
On the daily chart, MEW is trading firmly above the support level of $0.01124. The recent price surge has brought it closer to the resistance at $0.013, paving the way for a potential breakout toward $0.02, representing a possible 76.35% gain.

Rising Wedge on the 4-Hour Chart
The 4-hour chart shows a rising wedge pattern, often associated with potential bearish reversals. The resistance at $0.013 remains a critical level. Failure to break above this resistance could result in a pullback toward the $0.01124 support zone. On the other hand, a decisive breakout above this resistance would signal a continuation of the bullish trend, invalidating the bearish scenario.

Technical Indicators Support Bullish Momentum
50-Day and 200-Day Moving Averages: MEW is trading significantly above both SMAs, confirming a strong bullish trend.Awesome Oscillator (AO): Green bars above the zero line indicate increasing buying pressure.Chaikin Money Flow (CMF): A value of +0.05 reflects a strong inflow of capital into the asset, suggesting that buying activity outweighs selling.
MEW's Open Interest Doubles
Growing Trader Interest
Since November 5, open interest has increased from $82 million to $164 million, a more than 100% increase. This surge highlights rising trader activity and greater capital allocation toward MEW futures, signaling increased speculative interest.

Past Trends of Open Interest and Price
In the past, sharp increases in open interest have coincided with MEW price rallies, indicating strong trader participation during bullish phases. However, these periods were often followed by declines in both price and open interest, driven by profit-taking or reduced speculative enthusiasm. The synchronized growth of price and open interest since early November reflects renewed market confidence.
Liquidation Levels Highlight the Importance of Breaking Resistance
Concentration of Liquidations Near Resistance
Significant liquidation activity has been observed between $0.0120 and $0.0130, suggesting that many leveraged long positions are clustered around this resistance zone. If MEW fails to sustain its upward momentum, cascading liquidations could occur.
Critical Breakout Above Resistance
The current rise in leveraged positions underscores the importance of breaking through the $0.0130 level to maintain the bullish trend. Failure to do so may push the price back toward support at $0.0110.
Conclusion: Is MEW Ready for Further Growth?
The recovery from the $0.0110 level demonstrates that the market has absorbed selling pressure and regained bullish momentum. MEW now faces a critical test at the $0.0130 resistance level, and breaking through could pave the way toward the psychological milestone of $0.02. With strong market capitalization growth and increasing trader interest, MEW remains an asset to watch closely.

#MEWCoin , #BullishTrends , #memecoin🚀🚀🚀 , #MemeWatch2024 , #MEW

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Dogecoin: From Meme to Major Cryptocurrency
#Dogecoin (#DOGE ) was launched in 2013 as a humorous alternative to traditional cryptocurrencies, featuring the Shiba Inu meme as its logo. Unlike Bitcoin’s limited supply, Dogecoin is abundant, with no maximum supply and 10,000 new coins mined every minute. In 2021, its value surged, entering the top ten cryptocurrencies by market cap at over $50 billion, driven by social media influence and general crypto market growth. Created by Billy Marcus and Jackson Palmer as a joke, it gained popularity, highlighting the power of community and social media in financial markets. In the current market cycle, Dogecoin continues to be a notable cryptocurrency with active community support and potential impact.
$PEPE Coin: The Deflationary Memecoin Inspired by Pepe the Frog
#PEPE is a deflationary memecoin launched on the Ethereum network, paying tribute to the popular Pepe the Frog meme from the early 2000s. Designed to follow in the footsteps of memecoins like Shiba Inu and Dogecoin, PEPE sets itself apart by eliminating transaction taxes and embracing its identity as a pure memecoin without utility. It reached a peak market cap of $1.6 billion in mid-2023, igniting interest among crypto enthusiasts and leading to a memecoin resurgence. The coin’s roadmap focuses on increasing visibility through social media trends and listings on major exchanges. PEPE also features a burning mechanism to enhance scarcity and rewards long-term holders, leveraging Ethereum’s Proof-of-Stake security.
Shiba Inu (SHIB): An Ethereum-based Memecoin with Growing Utility
Shiba Inu ($SHIB ) is an Ethereum-based cryptocurrency inspired by Dogecoin. Launched in August 2020 by an anonymous developer known as Ryoshi, it began with a supply of 1 quadrillion tokens. SHIB’s integration with Ethereum allows it to benefit from the platform’s extensive ecosystem, enabling features like ShibaSwap, a decentralized exchange. Vitalik Buterin, Ethereum’s co-creator, was sent half of SHIB’s supply, later donating a significant portion to the India Covid Crypto Relief Fund and burning 40% of the total supply, which increased SHIB’s visibility. Future developments include plans for a non-fungible token (NFT) platform and a decentralized autonomous organization (DAO)-based governance system, potentially enhancing its utility in the cryptocurrency space.
MEW: The Cat Coin Challenging Dog-Themed Cryptocurrencies
MEW is a cryptocurrency featuring a cat character aiming to stand out in a market dominated by dog-themed coins. It seeks to offer an alternative to popular dog coins by introducing unique features in the meme coin space. MEW’s potential lies in attracting a community interested in novel concepts and providing distinctive technological advancements. In the current market cycle, MEW may appear attractive to investors looking for new opportunities in emerging meme coins. Its success will depend on community support and the effectiveness of its technology.


#SHIB #MEW