In the latest Solana meme coin pump, the new Elon Musk crypto token ‘ELONCAT’ has gone viral, but as trader sentiment shifts – is this other project next to pump?
This article will analyze ELONCAT’s current price trends and see whether the latest incarnation of Dogecoin represents a more promising investment opportunity.
CATS are the setting the trend! Today’s $ELONCAT had a great run on the fair launch, CMC CG listening and major CEX coming.
Sitting at 2.3M marketcap floor, looks like a good entry with whats coming @CatOfELONSol $SOL #Solana https://t.co/ygCkHlhFSS pic.twitter.com/l1oTtx3f5U
— DeeZzoW (@DeeZzoW) April 3, 2024
ELONCAT has gone viral on Crypto X after reeling in a double-narrative between Solana meme coins and Elon Musk crypto coins – both of which typically garner big attention on DEX markets.
ELONCAT Price Analysis: As Elon Musk Crypto Explodes Can New Solana Meme Coin Sustain Rally?
As price action holds strong, ELONCAT is currently trading at a market price of $0.00214 (representing a 24-hour change of +66,467%)
Launched at just 19:00 UTC on April 3, ELONCAT blasted off with immediate traction in DEX markets, with an opening +12,816% move in the first hour of trading.
This quickly gave way to a critical consolidation zone, which has been established over almost a day of trading in a tight range between $0.0021 and $0.0028.
With an impressive defense at these price levels by more than 741 holders, the stage is now set for further upside moves, with price currently testing the upside – resulting in a recent new all-time high at $0.0046.
ELONCAT’s market cap now stands at $2.16m, which reduces the appetite of degen traders, but still offers late-entrants as much as an easy 5x return.
But, with early-entry now long-gone, FOMO investors are shifting their attention to a new Dogecoin presale set to skyrocket at the Bitcoin Halving event on April 20.
Dogecoin20 Is Set To Skyrocket With Just 16 Days Remaining Until Top CEX Listing – Don’t Miss This Ship
Surging meme coin activity in 2024 has been nothing less than impressive, and the constant chase for the next big thing is pushing thousands of investors to the upcoming Dogecoin20 CEX launch on April 20.
DOGE20 is a brand new ERC-20 token at the tail end of its presale phase – offering retail investors the chance to get in with early-bird advantage at a minimal market cap ahead of a major price growth catalyst.
Additionally, Dogecoin20 attempts to differentiate itself from other meme coins by offering a capped supply and a high APY staking mechanism, features not present in Dogecoin – that are aiming to supercharge the incentives for long-term participation and reduce sell-pressure.
However, the real opportunity lies in Dogecoin20’s market cap (around $10m), which is just a fraction of Dogecoin’s $26.6 billion.
Imagine if Dogecoin20 repeated just 1% of Dogecoin’s success, that would mean a 30x return for presale investors – an easy target in bull market conditions.
Dogecoin20 will likely capitalize on the “replica play” on DOGE and possibly attain the same viral success – similar to the ELONCAT price pump.
Dogecoin20 will launch on April 20, around 24 hours after the next Bitcoin Halving event.
Buy Dogecoin20 Here
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