Tuesday, 28 May 2024

Crypto News

PANDA and MEW bullish momentum cool off: investors shift to new altcoin

A Trader Watches Market Performance On Mobile Phone

  • PANDA and MEW see price rally but face resistance resulting in pullbacks.
  • Investors shift focus to Altgotech amid cooling off of PANDA and MEW momentum.
  • Altgotech aims to revolutionize trading and its native token ALGT is currently in the presale stage.

In the volatile world of cryptocurrency, investors are always on the lookout for the next big opportunity. Recently, two altcoins, Panda Swap (PANDA) and Cat in a Dogs World (MEW), experienced significant price rallies, attracting attention from the crypto community.

However, the bullish momentum for the two tokens has cooled off and investors are now turning their focus to a new altcoin like Algotech (ALGT), signalling a dynamic shift in market sentiment.

Panda Swap (PANDA) price rally and pullback

Panda Swap (PANDA) recently witnessed a remarkable price rally, driven by massive interest from the meme coin community.

The token’s surge was fueled by anticipation surrounding its expected listing on MEXC exchange, which promised to bring PANDA to 10 million new users across 170 countries. Additionally, Panda Swap’s innovative DEX swap platform on Solana garnered attention for its advanced features and potential to redefine trading experiences.

However, despite the initial rally, PANDA encountered resistance around $0.0292, stalling its upward momentum at the beginning of April. The token then plunged to around $0.004417 before attempting a bullish reversal, which was cut short at around $0.017; forcing the token to pullback to its current price of $0.01226.

Although the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicate a bullish sentiment, a further correction from current levels could trigger a retest of support at $0.004417.

Cat in a Dogs World (MEW) pumps and dumps

Cat in a Dogs World (MEW) embarked on its own price rally mirroring PANDA’s rally amidst the fervor surrounding meme coins.

With a mission to save the world from trending dog coins like Dogecoin (DOGE) and Shiba Inu (SHIB), MEW gained traction among investors seeking unique opportunities in the cryptocurrency market.

The token’s surge was accompanied by positive technical indicators, including a bullish Relative Strength Index (RSI) and a positive Awesome Oscillator (AO), indicating growing bullish sentiment.

However, MEW encountered resistance at $0.0070. The token’s failure to overcome this…

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