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The Hoppy token has been on an impressive upward trajectory, reaching an all-time high of $0.0002890 on Friday, October 18. This meme coin, built on the Ethereum network, has surged by more than 18,000% since its lowest point in June. This explosive growth has positioned Hoppy as one of the top-performing cryptocurrencies, with its market capitalization now surpassing $109 million.
The token’s rise is largely driven by a growing number of holders. According to data from CoinCarp, Hoppy currently has over 3,600 holders, with the top ten accounting for 42% of the total supply. The token’s daily trading volume also reached a new high of $14.7 million this week.
Hoppy’s momentum could further accelerate if it gets listed on major exchanges such as Binance, Coinbase, and OKX. Most of its current trading is happening on Uniswap (UNI), the leading decentralized exchange, while centralized exchanges like MEXC, Bitmart, and BingX have also listed the token.
Hoppy’s surge aligns with the rise of other meme coins on Solana and Ethereum networks. Tokens like Cat in a Dog’s World, Book of Meme, Mog Coin, Brett, and Dogecoin have all seen significant gains over the past week. The total market cap of meme coins has now soared to $61 billion.
Hoppy token formed a cup and handle pattern
Hoppy has recently broken through the crucial resistance level of $0.0002080, which had previously marked its peak on July 24. This level was significant because it formed the upper boundary of a “cup and handle” chart pattern, a technical formation often seen as a signal of a continued upward trend.
With the token now trading above the 50-day moving average, it suggests that bulls are currently in control of the market. However, technical indicators like the Relative Strength Index (RSI) and the Stochastic Oscillator have entered overbought territory, signaling that the price may be due for a short-term correction.
Given this, there’s a possibility that Hoppy could pull back to test the support level at $0.0002080 before continuing its bullish momentum.
