After a month of rapid gains, Dogecoin and Shiba Inu have begun to slow. Today, they’re down 2% and 3.5%, respectively. However, traders are concerned that the selling isn’t done yet.
But despite that, the new meme coin CatSlap ($SLAP) is showing serious strength and is even tipped for 100x gains in the months ahead.
Market jitters, but $SLAP looks better than ever
The crypto market is in a state of flux right now.
CoinDesk recently published an unnerving article that Bitcoin may be more vulnerable to bad news around $100K, and prices reflect that.
With Bitcoin not immediately smashing the $100K mark as crypto investors would have hoped, concerns about a potential rejection and retest of previous levels have crept in.
This has resulted in a lot of selling activity today, with meme coins like Dogecoin and Shiba Inu leading the sector’s losses.
But despite that, CatSlap is showing that it could be a frontrunner as the market begins to recover.
The token launched on 21 November and quickly entered a parabolic rally. It peaked at $0.0068 on Sunday, equating to a market cap of over $60 million.
But then, the price started to rise. This was CatSlap’s first test, and it passed. Without its community believing in long-term success, it would have never recovered.
However, after hitting lows of $0.0038, the $SLAP price has rallied to $0.0047, reclaiming multiple structural levels and even forming a diagonal support line in the process.
Right now, $SLAP is forming a strong green candle off the trendline support, suggesting that the next explosive uptick is close.
Every time a meme coin launches, it must answer the question: is this a short-lived “pump-and-dump” or a “cult” meme coin that will be around for a long time?
CatSlap’s strength – despite the broader market’s turmoil – tells us that this token falls into the latter category.
Forget Dogecoin’s 200% pump; analysts say $SLAP can 100x
Dogecoin has added $40 billion to its market cap in the past month and provided a 200% gain, which is unheard of in almost any other financial market.
However, in the meme coin sector, tokens can provide a lot more than that.
And CatSlap might be next.
Despite its already soaring by over 5,000% from its DEX launch price, it holds a market cap of just $42 million. Analysts think this could soar much higher in the peak bull market.
For instance, Jacob Bury posted a video on the 99Bitcoins YouTube channel, telling its 700K subscribers that $SLAP has 100x potential.
Dogs are so last cycle – it’s all about cats now
For investors seeking to maximize their potential for gains, it’s all about cat coins now.
Dogs and cats are the two favorite household pets, yet the dog-themed meme coin sector has a $94 billion market cap, while the cat-themed counterpart is worth just $5.7 billion.
If we compare the largest cat-themed and dog-themed meme coins (Popcat and Dogecoin), we can see this potential playing out in real-time.
Popcat is up over 8,800% this year, while Dogecoin is up 449%.
Dogecoin’s returns are not something to turn your nose up at, but they’re not life-changing.
Cat-themed meme coins are on the rise, and CatSlap brings something entirely new to the sector.
Behind its cat-centred branding, the project has a gamified experience called CatSlap Slapometer, which provides an element of fun and enjoyment. There are also rumors that the team will launch a full-sweep Play-to-Earn game later. Popcat certainly doesn’t have that.
CatSlap also has a staking mechanism, allowing holders to lock up their tokens and generate passive rewards. The staking APY is currently 40%.
Right now, it might be the best time to get involved with CatSlap. The cat-themed meta is growing stronger, and $SLAP is showing real demand while other cryptocurrencies struggle.
The website also counts down to a “major announcement,” which will be revealed in ten days. The community will certainly hope this is a listing on a major tier-1 exchange.
Currently, investors can buy $SLAP on decentralized exchanges or using Best Wallet via its “Upcoming Tokens” feature.
