Dog Coin Frenzy Causes 13% Decline in POPCAT Price

Popular meme coin Popcat ($POPCAT) is facing stiff competition from presales nowadays, and it could even exit the top ten meme coins by market capitalization if holders continue incurring losses.

In the last 24 hours, $POPCAT spiralled 7% down to its current price of $0.8238. Now, that’s not the biggest intraday dip posted by a meme coin, certainly.

But the token is trading against the grain of market leaders Bitcoin ($BTC) and Ethereum ($ETH) , which both added a percent overnight.

Popcat Price Analysis – Further Selling to Come?

Notably, Popcat’s downturn has eased somewhat since last night, when it appeared to be crashing. Just before midnight, at around 11PM UTC, the token was posting 24 hour losses of 13%.

It’s worth noting that throughout the month of July so far, Popcat has been going up, albeit haphazardly. The token may have found strong support at $0.60, as indicated by the diagonal green line below.

It has also been raising the resistance ceiling from $0.60 at the start of the month to the dollar mark yesterday.

Popcat’s price is likely to stabilize in the short term, as indicated by a now-rising Relative Strength Index of 46, which indicates a fresh round of buying is happening now that will counterbalance the negative price performance of a steady sell-off these past two days.

Still, meme-savvy investors are bundling into various other presales with stronger fundamentals right now. One of the most enticing appears to be the nostalgic Tamagotchi remake PlayDoge.

Will GameFi Meme Coin Playdoge Push Popcat Out of the Top Ten?

Another furry critter is likely to attract more explosive price gains than $FLOKI once it hits the open market later this year: on-chain Tamagotchi remake Playdoge.

See, while Floki is branching out as a Telegram-based trading bot , which is currently being beta tested , its likely to face stiff competition from a new competitor called WienerAI . This limits $FLOKI’s upward price potential compared to several technologically innovative new contenders.

But what PlayDoge is offering is something with no clear competitors yet, and the multichain Play-to-Earn (P2E) meme coin powering it, PlayDoge ($PLAY) , is still only in presale. It has already raised $5.8 million just one month in.

The feverish buying comes off the back of recommendations by several YouTube crypto analysts , including Clinix Crypto, 99Bitcoins, ClayBro, and Matthew Perry.

Fans of the 90s handheld digital pets will delight to see how PlayDoge gives them strong crypto incentives to rekindle their childhood and become attentive virtual pet owners again, while embarking on exciting in-game adventures and mini-games.

And those that have bad memories of Tamagotchi the first time around need not fear: the difficulty curve on PlayDoge is a lot more forgiving, making him a much more resilient pet than the high-maintenance Tamagotchis you probably remember.

$PLAY’s home chain is the Binance Smart Chain, now called BNB Chain. This could significantly facilitate a potential future Binance listing.

Moreover, SolidProof audited Playdoge’s smart contract, giving prospective investors peace of mind about the project’s security.

Joining the presale is easy: connect your wallet and start purchasing $PLAY using BNB, ETH, or USDT. PlayDoge also offers the option to use credit cards.

To keep up with the latest information about the project, you can connect with the community via X and Telegram .

Visit the PlayDoge website to buy in at presale prices now.