Simon’s Cat price could rise 66% after receiving strategic investment

Simon’s Cat token, one of the top meme coins of the Binance Smart Chain ecosystem, reached an all-time high after developers received investment.

Simon’s Cat (CAT) rose to a record high of $0.000060, pushing its market cap to over $351 million. This rally was in line with the broad performance of cryptocurrencies as the crypto fear and greed index rose.

CAT’s breakthrough follows a number of positive developments in the ecosystem, including a strategic liquidity investment to support its expansion into other trading platforms. This investment will also allow developers to launch their own blockchains in the near term.

Simon’s Cat secures a strategic liquidity investment @unicornverse_io to support its expansion to additional trading platforms.

This initiative will begin with the upcoming launch of a new blockchain, with more details to be announced soon. pic.twitter.com/nIwH8lC2Ya

— Simon’s Cat Token (@SimonsCatMeme) November 14, 2024

Unicornverse, a major player in the crypto industry, has provided liquidity to other popular assets such as Shiba Inu, Baby Doge, Ponke, and Mobox.

Additionally, Simon’s Cat token has been on the rise after developers partnered with various exchanges such as Uphold, BitPanda, and KrakenPro. The bulk of the trading volume occurred on OKX, KuCoin and BitMart.

With the increase in trading volume, there is a possibility of being listed on Binance, the largest stock exchange in the industry. Typically, cryptocurrencies perform well shortly after a major exchange listing.

Another potential catalyst for the coin is the recent Donald Trump election in the US, which could bring about friendly regulations. One impact is that American exchanges such as Robinhood, Gemini and Coinbase are open to listing it.

Simon’s Cat price needs to convert $0.000060 Simon’s Cat chart | Source: crypto.news

The daily chart shows that the CAT token price has increased over the past three days, reaching a record high of $0.000060. It has risen over 4,200% from its lows this year, making it one of the best-performing cryptocurrencies.

It has turned key resistance at $0.000046, the high on September 21, and remains above the 25-day moving average.

Most importantly, it has formed the cup and handle formation, a popular bullish sign that describes an uptrend.

Therefore, Simon’s Cat price will likely continue to rise as long as the bulls break the important resistance level at $0.000060. In such a case, the next point to watch would be $0.00010, a 66.7% increase from the current level. On the other hand, a decline below the key support at $0.000045 will invalidate the bullish view.