- In the last 30 days, the MEW token price has traded in green for 19 days.
- The “Cat in a dogs world” token price has advanced by more than 80% in the last 1 month.
The sentiment of the cat in the dogs world token was bullish at press time, as per CoinCodex. Following this, the fear and greed index of the token was at 70, showing greed among the investors.
Price Overview Chart of MEW | Source: CoinMarketCap
From the all-time low price of $0.000844, the cat in a dogs world token price has advanced by 745%. Additionally, the all-time low in the price was achieved four months ago.
The token’s market cap has advanced by 31% in just the last 24 hours, resulting in a market cap value of $630.528M. Also, the market cap ranking of the token was #106, as per CoinMarketCap.
Moreover, the trading volume of the cat in a dogs world token has advanced by 95%, resulting in a traded value of $332.106M. It resulted in a huge liquidity in the crypto, leading to a volume/market cap ratio of 52.03%.
The token’s circulating supply and total supply was 88.888B MEW, and its fully diluted market cap was $631.256M.
The market cap dominance of the token was 0.03%, and the price was highly volatile, with a volatility of 15.05%. The cat in a dogs world token had 183K holding addresses at press time. Also, the top 10 holders of the token had 36.55% of the token supply.
Cat in a dogs world Derivatives Data Analysis
A huge surge of 144% in the derivatives trading volume of the token is recorded in the last 24 hours from the press time. That has resulted in a traded value of $1.85B, much higher than the spot volume.
Cat in a dogs world Token Derivatives Liquidation Chart | Source: Coinglass
The open interest of the token has also advanced by 92% in the last 24 hours from the press time. That shows a considerable advance in the number of open positions of the token.
Additionally, higher short liquidations were recorded in the token, resulting in a value of $2.83M, followed by long liquidation of $1.43M. It showed the bulls’ dominance in the token price.
MEW Token Technical Analysis
The MEW token price has strongly advanced over the last few days, following a bullish momentum.
MEW Token Daily Price Chart | Source: Tradingview
The MEW token price has traded in a volatile range since its launch. That led to the formation of a descending triangle pattern on the daily chart of the token.
The price also broke above the triangle pattern and advanced by 50% since the breakout. That price behavior exhibits a higher possibility of further advance in the price.
MEW/USD Chart by TradingView
The MEW token price broke above the 20-day and the 50-day EMAs, following which the EMAs traded in a golden crossover.
The MACD and the signal line were trading in a golden crossover on the chart and advanced to a bullish trajectory. The histograms further formed on the chart are bullish and the strength has advanced over time.
The RSI has hit the overbought zone and traded at 78 level at press time. The RSI value has consistently sustained above the 50 level and the 14-day SMA for a long time.
Summary
The MEW token has experienced a significant bullish surge, advancing 80% in the past month.
With increased trading volume, bullish technical indicators, and strong investor sentiment, the token’s price has surged 745% from its all-time low. This momentum suggested a strong potential for further gains.
The support levels for the MEW token at the time of writing were $0.00180 and $0.0030, and the resistance levels were $0.010 and $0.0130.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Rajat is an MBA graduate specialized in finance who is a motivated self-starter, highly organized, and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. His primary focus is on cryptocurrency price analysis and industry news coverage.