The Daily Chart Structure of the cat in a dogs world (MEW)The catvsdog-themed animated clip posts have fueled a lot of optimism in the meme-MEW, and one of the clips of July 19th led to a massive increase of more than 135%. But fell due to instability in gains, which accelrated by the global red markets lately.
After receding to its primary demand zone, the MEW formulated a liquidity grab wick that described massive buying in the market on August 5th. Simultaneously, a clip was posted on the same day, which could have garnered more attraction in Cat in a Dogs World (MEW).
As of writing, the bullish boost gave a price surge of 16%, and MEW’s market cap reached $522.63 Million intraday. Likewise, the surge has taken this meme coin to the 101st seat among the top 100 cryptocurrencies in 24 hours.
Since its start, a volatile range has been in play in the MEW (MEWUSD/CRYPTO), which has led to a breakout after the formation of a pattern known as a descending triangle. The witnessed breakout showed higher gains at a $0.0087 peak from a low of $0.0031 by July 24th, 2024.
However, the price declined due to failure to proceed further and dipped to the demand zone, under the influence of broader market sentiment lately. Recently, the broader market sentiment in the crypto space improved, which displayed growth in buying interest. Thus, this exhibited further chances of ascent continuation.
When writing, the indicators are bullish, as they pierced the 50-day EMA and were heading to retest the $0.0079 and $0.0099 mark. Meanwhile, the MACD had an anticipated bullish crossover with an improving histogram towards the zero line, where the histogram was negative 0.000220. The RSI was above a median line at 52.59.
However, the support lies around $0.0046 and $0.0032, respectively.
