The recent price action of meme coins Doginme (DOGINME) and Keyboard Cat (KEYCAT) has caught the attention of investors. Both tokens saw significant increases following major announcements, sparking optimism.
Their exposure to millions of new investors through exchange listings could soon propel them to new highs in the meme coin market.
Coinbase Brings Forth More Meme Coins
Coinbase announced that it would start supporting the trading of Doginme (DOGINME) and Keyboard Cat (KEYCAT) from April 1. This move is expected to expose both tokens to millions of crypto enthusiasts and could greatly increase their market reach. However, Coinbase clarified that listing support for these tokens might be limited in some jurisdictions.
The announcement has sparked a wave of optimism among investors, leading to a surge in trading volumes and price increases. The exposure on a major exchange like Coinbase often leads to increased liquidity, which in turn drives further growth. However, it remains to be seen how restrictions in certain regions could impact the overall price dynamics and demand for these tokens.
DOGEINME Is Flying
Following Coinbase’s announcement, Doginme (DOGINME) posted an impressive 60% rally during the intra-day high. This surge was slightly tempered, but the altcoin still managed to close with a 51% rise over 24 hours. Trading at $0.00127, DOGINME is now testing resistance at $0.00158, which has been a key level for the coin.
If the token continues to find support at current levels, DOGINME could break past the $0.00158 resistance and potentially push toward its all-time high (ATH) of $0.00172. Continued bullish sentiment could propel it even higher, setting the stage for substantial growth.
However, if DOGINME fails to maintain its upward trajectory and slips through the support of $0.00092, it could drop to $0.00070 or even lower. This would invalidate the bullish thesis and potentially push the altcoin into a downtrend, diminishing its short-term growth prospects.
KEYCAT Makes A Jump
While Keyboard Cat (KEYCAT) didn’t see as explosive a rise as DOGINME, it still posted a solid 32% gain. The altcoin is currently trading at $0.0062 and is looking to break through the resistance level at $0.0078, which has held strong for the past two months.
Should the current momentum persist, KEYCAT has a strong chance of surpassing the $0.0078 barrier and may even aim for the $0.0100 level.
On the other hand, if KEYCAT fails to breach $0.0078 and falls back, it could retrace to $0.0040 or lower. This would invalidate the bullish outlook and could lead to a period of consolidation, putting the token’s recovery on hold.
Disclaimer
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