{"id":119232,"date":"2024-10-28T07:27:45","date_gmt":"2024-10-28T00:27:45","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=119232"},"modified":"2024-10-28T07:27:45","modified_gmt":"2024-10-28T00:27:45","slug":"mew-seems-a-shift-in-sentiment-with-uptrend-losing-momentum","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=119232","title":{"rendered":"MEW seems a shift in sentiment with uptrend losing momentum"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em>MEW has surged by 47.06% over the past months<\/em><\/li>\n<li><em>Analyst and market fundamentals indicate a correction as market sentiment turns bearish<\/em><\/li>\n<\/ul>\n<p>Over the past month, <a href=\"https:\/\/ambcrypto.com\/predictions\/cat-in-a-dogs-world-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Cat in a Dogs World [MEW]<\/a> has experienced strong upward momentum. Since hitting a monthly low of $0.0046, MEW has been on an upward trajectory.<\/p>\n<p>In fact, as of this writing, MEW was trading at $0.01. This marked a 47.06% increase over the past month with an extension to this bullish trend by 16.74% on weekly charts.<\/p>\n<p>This prevailing market condition has left analysts deliberating on the memecoin\u2019s future trajectory. While some were optimistic about the current trend, others were pessimistic and saw the trend coming to an end.<\/p>\n<p>One of these analysts who sees a potential pullback was <a href=\"https:\/\/x.com\/Manofbitcoin\/status\/1850287999973749128\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Man of Bitcoin,<\/a> who suggested a correction citing wave 4 of the Elliot wave.<\/p>\n<h2>Market sentiment<\/h2>\n<p>In his analysis, Man of Bitcoin posited that MEW was working on wave C of 3 on the upside.<\/p>\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-437257 size-full\" alt=\"\" width=\"900\" height=\"467\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx.jpg 900w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx-300x156.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx-768x399.jpg 768w\" data-lazy-sizes=\"(max-width: 900px) 100vw, 900px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx.jpg\"\/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-437257 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx.jpg\" alt=\"\" width=\"900\" height=\"467\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx.jpg 900w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx-300x156.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewx-768x399.jpg 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\"\/><\/a><\/p>\n<p>Source: XThis meant that the memecoin was in the final phase of the upside. Thus, according to him, MEW was completing the upward movement within wave 3 by forming a peak before wave 4.<\/p>\n<p>When the peak of wave 3 forms, the corrective wave 4 usually begins. This implied that the memecoin was set to decline in its price charts.<\/p>\n<p>Therefore, a break below the ascending trendline would indicate a shift in market sentiment. This will signal the end of Wave 3 and the start of Wave 4, where the memecoin will see a pullback.<\/p>\n<p>Based on this analogy, the memecoin might be getting ready for a pullback even though it\u2019s still in an upward movement.<\/p>\n<h2>What MEW\u2019s chart says<\/h2>\n<p>Undoubtedly, the analysis provided above provides caution, pointing out that the memecoin was likely to decline. However, it\u2019s essential to counter-check other market indicators and determine what they suggest.<\/p>\n<div id=\"attachment_437253\" style=\"width: 1862px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437253\" class=\"wp-image-437253 size-full\" alt=\"\" width=\"1852\" height=\"450\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts.png 1852w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-300x73.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-1024x249.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-768x187.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-1536x373.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-1200x292.png 1200w\" data-lazy-sizes=\"(max-width: 1852px) 100vw, 1852px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437253\" class=\"wp-image-437253 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts.png\" alt=\"\" width=\"1852\" height=\"450\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts.png 1852w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-300x73.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-1024x249.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-768x187.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-1536x373.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewshorts-1200x292.png 1200w\" sizes=\"auto, (max-width: 1852px) 100vw, 1852px\"\/><\/a><\/p>\n<p id=\"caption-attachment-437253\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p>Firstly, MEW\u2019s long-short ratio showed that short positions were dominating the market. Shorts had 52.7% of total positions, while longs were 47.2%. This suggested that most traders were bearish and were betting on prices to drop.<\/p>\n<div id=\"attachment_437254\" style=\"width: 1862px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437254\" class=\"wp-image-437254 size-full\" alt=\"\" width=\"1852\" height=\"525\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest.png 1852w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-300x85.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-1024x290.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-768x218.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-1536x435.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-1200x340.png 1200w\" data-lazy-sizes=\"(max-width: 1852px) 100vw, 1852px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437254\" class=\"wp-image-437254 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest.png\" alt=\"\" width=\"1852\" height=\"525\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest.png 1852w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-300x85.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-1024x290.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-768x218.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-1536x435.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mew-open-interest-1200x340.png 1200w\" sizes=\"auto, (max-width: 1852px) 100vw, 1852px\"\/><\/a><\/p>\n<p id=\"caption-attachment-437254\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p>Additionally, MEW\u2019s open interest declined by 29.30% over the past 48 hours, dropping from $215 million to $152 million. This suggested that investors were closing positions without opening new ones, signaling a lack of confidence in the memecoin\u2019s direction.<\/p>\n<div id=\"attachment_437255\" style=\"width: 1356px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437255\" class=\"wp-image-437255 size-full\" alt=\"\" width=\"1346\" height=\"762\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi.jpeg 1346w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-300x170.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-1024x580.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-768x435.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-1200x679.jpeg 1200w\" data-lazy-sizes=\"(max-width: 1346px) 100vw, 1346px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi.jpeg\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437255\" class=\"wp-image-437255 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi.jpeg\" alt=\"\" width=\"1346\" height=\"762\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi.jpeg 1346w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-300x170.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-1024x580.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-768x435.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/mewdmi-1200x679.jpeg 1200w\" sizes=\"auto, (max-width: 1346px) 100vw, 1346px\"\/><\/a><\/p>\n<p id=\"caption-attachment-437255\" class=\"wp-caption-text\">Source: Tradingview<\/p>\n<\/div>\n<p>MEW\u2019s Directional Movement Index showed that the current trend was losing momentum. The ADX surged to 54.8 while +DI declined to 37., indicating that bears were starting to gain control of the market.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Realistic or not, here\u2019s\u00a0<a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">MEW\u2019s market cap in BTC\u2019s<\/a>\u00a0terms<\/p>\n<hr\/>\n<p>Simply put, although MEW was in an uptrend, the memecoin was experiencing a shift in sentiment. Thus, as observed above, the memecoin was in the final stages of the uptrend, and a market correction was imminent.<\/p>\n<p>If the memecoin declines, it will find its support at $0.0087. Consequently, for a continued uptrend, the memecoin must remain above its SMA at $0.0095.<\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/dogecoin-positions-for-rebound-but-heres-whats-holding-it-back\/\" rel=\"prev\" data-wpel-link=\"internal\">Dogecoin positions for rebound, but here\u2019s what\u2019s holding it back<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/mew-soars-47-but-analysts-say-a-pullback-could-be-coming-heres-why\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MEW has surged by 47.06% over the past months Analyst and market fundamentals indicate a correction as market sentiment turns bearish Over the past month, Cat in a Dogs World &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=119232\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-119232","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=119232"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119232\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=119232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=119232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=119232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}