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The Real Smurf Cat price is losing steam as it trades over 15% below its value 24 hours ago to trade at $0.0001925 as of 5: 00 a.m. EST.
The шайлушай price is now down by 8% on the week, but it is still up 277% in the past 30 days.
After being listed on Poloniex on Sept. 20, the Real Smurf Cat traded in a wide range stretching from $0.000016 to $0.000745 until a month later when it broke out of the range on Oct. 23. Since then, шайлушай has spiked as much as 506% in a rally that was stopped by profit-taking around the $0.00040 psychological level.
This uptrend has now resulted in an approximately 350% increase to the current levels.
The spike in the Real Smurf Cat price was due to GameFi enthusiasts moving to buy the token, looking forward to boosting their portfolios after Bitcoin’s rise to $35,000 initiated a widespread recovery in the crypto market.
More than that, шайлушай is a new cryptocurrency that only launched in September 2023, burning all of its liquidity pool funds and sending the rest of its supply to Uniswap.
This strategy encouraged buyers as it eliminated the possibility of a rug pull in the future. Instead, it increased trust in the token, causing many to rush to purchase it.
While Real Smurf Cat’s 500% surge caught the market’s attention, the technical setup indicates that the ongoing correction could be stretched further down.
Real Smurf Cat Price Stares Into an Abyss as Losses To $0.000040 Loom
Шайлушай price action had formed a rounded top chart pattern on the four-hour timeframe. This pattern is formed when an asset initially rises toward a high, indicating an excess supply even as volume decreases.
A reversal to the downside takes place when sellers book profits at higher levels, offloading the asset in high volumes. This increases the supply of the asset, which causes the price to drop. Once the rounding top is confirmed, the asset breaks out to start a massive move downward.
In this case, increased selling pressure could see Real Smurf Cat meme coin drop below the 100-four-hour Exponential Moving Average (EMA) at $0.0001839 to seek solace from the 200- EMA at $0.0001294.
The technical formation would be confirmed once the price produced a four-hour candlestick close below this level, to move to the rounded top’s neckline at $0.00006431. Шайлушай would then drop to seek solace from the $0.000040 support floor. This would represent a 78% decline from the current price.
шайлушай/USD Four-hour Chart
The bearish thesis for Real Smurf Cat was validated by the Stochastic RSI whose position at 5 in the oversold region which reinforced the bears’ market dominance.
On the other hand, Шайлушай could turn up from the current level to initiate a recovery. A four-hour candlestick close above the 50 EMA at $0.0002347 would invalidate the negative thesis and initiate a fresh recovery toward the $0.00030 psychological level.
Breaking this resistance would see the cat-themed crypto rise to tag the pattern’s top at $0.00040. This would represent an over 100% uptick from the current price.
While Real Smurf Cat’s 78% drop could make the crypto lose the market’s attention, Meme Kombat (MK) could take its place as it hits an important milestone in sales.
Шайлушай Alternatives
Meme Kombat (MK) is a new GameFi token that aims to offer users to play, stake, and earn rewards. It draws inspiration from the multi-billion dollar Mortal Kombat franchise, but with a meme coin spin plus a sprinkling of crypto degeneracy humour.
This is an innovative new gaming platform created for gaming enthusiasts, which offers both active betting and passive staking.
Meme Kombat just hit a huge milestone in its closely watched presale, raising more than $1 million via the presale of its native $MK token.
WE DID IT FIGHTERS!
We reached $1 MILLION in our presale raise🔥⚔️ pic.twitter.com/SvCu1zoj36
— Meme Kombat (@Meme_Kombat) November 1, 2023
Each MK token currency goes for $0.183 ahead of the launch of Meme Kombat’s $MK token staking program, which will offer huge annual percentage yields (APYs) of up to 112% to its earliest participants.
Visit Meme Kombat here and buy your MK tokens.
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