Popcat Leads Top Meme Coin Gainers as Shiba Shootout Nears $1M Milestone
Meme coins are bouncing back, and Popcat (POPCAT) is leading the way.
This cat-themed token has surprised everyone, climbing back to the $0.579 level.
Meanwhile, Shiba Shootout (SHIBASHOOT) is also picking up steam in its presale – and is fast approaching the $1 million funding milestone.
Popcat Tops CoinMarketCap’s Gainers List with 123% Rally
Popcat is having quite a moment.
It’s currently at the top of CoinMarketCap’s gainers list, having rallied 123% from Monday’s low, completely erasing the weekend’s losses.
Technical analysts are also watching POPCAT as it approaches a key level.
It’s currently testing the 50-day EMA, which is an indicator of the medium-term trend.
Historically, when POPCAT has broken above this level, it’s often marked the beginning of another bullish leg.
If POPCAT can break through this dynamic resistance level, the next target could be the July 27th high of $0.95.
Of course, such a break isn’t guaranteed.
A rejection of the 50-day EMA could also see POPCAT settle into a period of sideways trading as it consolidates this week’s gains.
Regardless of what happens next, investors are hyped about the recent price action.
And the excitement isn’t limited to POPCAT alone.
Meme Coin Sector Rebounds as Market Cap Surges Back Above $38B
The entire meme coin sector is back in the green, mirroring the broader recovery we’re seeing in the crypto market.
The sector’s total market cap has climbed back above $38 billion – with $5.5 billion in spot trading volume over the past 24 hours alone.
Almost every major meme coin is posting gains right now.
WIF has been a particularly strong performer, jumping by 26% in just the last day.
And there are only a handful of exceptions to this bullishness, with coins like PEPECOIN and TRUMP experiencing minor dips.
This meme coin bullishness seems tied to a broader shift in market sentiment.
There’s growing optimism that the Fed might lower interest rates by 0.5% in September.
Lower rates tend to benefit “riskier” assets like cryptocurrencies as investors seek better returns outside traditional investments.
So, this potential rate cut could translate into a wave of demand for meme coins.
Additionally, Bitcoin’s own rally is pulling up the meme coin space.
BTC is back above $57,000, a 15% increase from Monday.
Where Bitcoin goes, meme coins tend to follow – and that’s exactly what we’re seeing in the market right now.
Wild West P2E Game Shiba Shootout Goes Viral & Nears $1M Presale Milestone
The meme coin enthusiasm also benefits newer projects like Shiba Shootout (SHIBASHOOT).
Shiba Shootout is going viral in its presale phase, having already raised $880,000.
With SHIBASHOOT tokens currently priced at $0.0198, the presale is on track to hit the $1 million mark soon.
The project taps into the popularity of dog-themed meme coins, but with a twist: it’s also a P2E game set in the Wild West.
Players can explore Shiba Gulch, participate in showdowns, and earn SHIBASHOOT tokens.
The Shiba Shootout ecosystem has hilarious characters like Marshal Shiba and the Shiba Sharpshooters.
It also has features like “Posse Rewards” for referrals and “Campfire Stories” for community building.
There’s even a “Cactus Staking” protocol offering 1,085% annual yields.
According to Shiba Shootout’s whitepaper, the team plans to list SHIBASHOOT on DEXs (and potentially CEXs) later this year.
Then, the full version of the Shiba Sharpshooter game will be released.
So, with the market on the rise, projects like Shiba Shootout are getting a boost from all the hype.
Whether it can keep up this pace until launch is anyone’s guess, but for now, Shiba Shootout is capturing the attention of some meme coin investors.
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