Meme coin season appears to be back in full swing, with several tokens registering notable double-digit hikes. Leading the charge are cat-themed Popcat (POPCAT), Ethereum-based Mog Coin (MOG), and First Neiro on Ethereum (NEIRO). As of this writing, POPCAT’s price has increased by 15% in the last 24 hours, while MOG jumped by 18.40%. NEIRO, on the other hand, recorded a remarkable 46.60% hike within the same period.
On Saturday, October 5, BeInCrypto reported that POPCAT hit a new all-time high of $1.29. Today, the price has surpassed that, reaching $1.43. This increase signals strong investor interest in the meme coin.
The 4-hour chart reveals resistance at $1.48. Additionally, the Relative Strength Index (RSI), which measures momentum, stands at 72.05. An RSI reading above 70.00 indicates that a cryptocurrency is overbought, suggesting a potential price drop.
In POPCAT’s case, a pullback toward $1.28 seems possible. However, if bulls maintain pressure, the token's price could climb further, potentially reaching $1.60.
Unlike Popcat, MOG’s price increase to $0.0000016 did not lead the meme coin to a new all-time high. However, the token has the potential to hit a higher value in the short term. On the daily chart, the Moving Average Convergence Divergence (MACD) is positive.
The MACD gauges momentum and identifies periods for buying or selling a cryptocurrency. A positive reading indicates bullish momentum, while a negative reading indicates bearish momentum.
Since it is the latter, MOG’s price might continue to climb. If the momentum remains the same, MOG’s value could hit $0.0000020 in the short term. If buying pressure decreases, the token’s price could drop to $0.0000014.
First Neiro on Ethereum (NEIRO) also hit a new all-time high. However, as soon as the meme coin reached $0.0015, it pulled back. Following the decline, the Balance of Power (BoP) also dropped, indicating that bears have the upper hand.
The BoP is a price-based indicator used to evaluate the overall strength of buyers and sellers in the market. Currently, the BoP on NEIRO’s 4-hour chart is down to -0.32.
If this continues, NEIRO’s price might soon decline to $0.0012. However, if bulls reclaim dominance, the current price trend might turn around, and the meme coin’s value could jump past $0.0016.
