Hoppy token hits all-time high, rare pattern points to more gains

The Hoppy token continued its robust rally, reaching a document excessive of $0.0002890 on Friday, Oct. 18.

Hoppy (HOPPY), a meme coin on the Ethereum (ETH) community, has risen by over 18,000% from its lowest level in June. This rally has made it one of many best-performing cryptocurrencies, with its market cap hovering to over $109 million.

Hoppy’s surge is being fueled by a rising variety of holders. Knowledge from CoinCarp exhibits that it now has over 3,600 customers, with the highest ten holders accounting for 42% of the entire. Its each day quantity hit a document excessive of $14.7 million this week.

The variety of holders might probably improve if the token had been listed on tier-1 exchanges like Binance, Coinbase, and OKX. Further information from CoinGecko exhibits that the majority of its buying and selling was occurring in Uniswap (UNI), the largest participant within the decentralized trade trade. The highest CEX exchanges which have listed Hoppy are MEXC, Bitmart, and BingX. 

Hoppy’s rally coincides with features in different Solana and Ethereum-based meme cash. Knowledge from CoinMarketCap exhibits that tokens like Cat in a canines world, Guide of Meme, Mog Coin, Brett, and Dogecoin had been a few of the best-performing cryptocurrencies up to now week. The overall market cap of meme cash has jumped to $61 billion.

Hoppy token shaped a cup and deal with sample

Hoppy surged previous the important thing resistance degree of $0.0002080, its highest level on July 24. This degree was vital because it represented the higher boundary of the cup and deal with sample, a standard indicator of a bullish continuation.

Hoppy has risen above the 50-day transferring common, suggesting that bulls are in management. Nevertheless, indicators just like the Relative Power Index and the Stochastic Oscillator have moved into the overbought territory.

Because of this, the token might pull again to retest the help degree at $0.0002080 earlier than resuming its bullish development.