Simon's Cat price has soared 50% in the last 24 hours, reaching $0.00003626, fueled by a 1,004% increase in trading volume to $443 million following its listing on Binance Futures, making it the first cat-themed meme coin on the platform.
Price Increase and Trading Volume
Simon's Cat's listing on Binance Futures led to a 1,004% increase in trading volume, reaching $443 million. Starting at $0.00003626, the coin showed significant growth due to trader interest. Binance users can now trade the 1000CATUSDT pair with up to 75x leverage, using various digital assets like Bitcoin (BTC) as collateral.
Continuation of Bullish Trend
Simon's Cat's price chart shows a strong bullish breakout. The price is trading above the 50 and 200 moving averages at $0.00002726 and $0.00003209, confirming a transition to a bullish trend. The MACD indicator also shows a bullish crossover, indicating increasing upward momentum.
Short-Term Price Consolidation
The RSI is at 69.29, nearing the overbought zone, suggesting potential short-term consolidation or a minor correction. Despite the strong upward momentum, immediate resistance is around $0.00004000, with the next key resistance possibly at $0.00005000.
Simon's Cat shows significant growth after debuting on Binance Futures, with a strong bullish trend. Traders are advised to be cautious of possible corrections in an overheated market, but the long-term outlook remains positive.