Where MEW Stands Right Now
Cat in a dogs world—trading under the ticker MEW—is currently sitting at around $0.0005798 against USDT. That’s down about 5.43% in the last 24 hours, and honestly, it’s been a rough ride. We’re talking more than 90% off the all-time high of roughly $0.01288 hit back in November 2024. That kind of drawdown puts MEW deep in bear territory, and the charts aren’t exactly offering much comfort right now.
The token is trading below every major moving average you’d care to look at—7-day, 30-day, 200-day, you name it. That tells us the trend, both short and long term, is weak. Volume is still relatively high compared to market cap, which means there’s activity, but it’s mostly been selling pressure. Sentiment? Risk-averse. Traders are nervous, and rightfully so given how far this thing has fallen.
The Technical Picture and What It Means
Let’s break down what the indicators are telling us without getting too lost in the weeds.
The RSI is hovering around 32-33, which puts it near oversold levels but not quite there yet. This suggests sellers have been in control, but we’re approaching a zone where a bounce could happen if buyers decide to step back in. It’s not a guarantee—just a possibility worth watching.
The MACD is negative and flat, showing no real momentum in either direction right now. That’s not a good sign if you’re hoping for a quick turnaround. The histogram and signal line are basically saying “we’re stuck,” and that downward pressure is still firmly in place.
Price action relative to moving averages paints a clear picture: MEW is well below the 20-day, 50-day, and 100-day EMAs. Until we see a meaningful move back above these levels, or at least some consolidation near them, the bears are still running the show. Resistance is stacked overhead.
Volatility is high. The daily Average True Range (ATR) is over 10% of the current price, meaning big swings are absolutely on the table. Bollinger Bands show price hugging the lower band, which often acts as a temporary floor or springboard for oversold bounces—but it can also just keep sliding if support breaks.
Key Levels to Watch
Here’s where things get interesting, or potentially painful, depending on which way the price moves:
Support sits around $0.00050 to $0.00055. This is the line in the sand. If MEW breaks below this zone, we’re likely headed down to retest the recent lows near $0.00050, and possibly lower if panic sets in.
Immediate resistance is around $0.00062 to $0.00063. Getting back above this level would be the first sign that sellers are losing steam and buyers are gaining confidence. It won’t flip the trend overnight, but it would be a step in the right direction.
Major resistance sits between $0.00080 and $0.00110. This range represents old support levels that have now turned into resistance. If MEW manages to reclaim any part of this zone, it would signal a real shift in momentum and potentially change how traders view the token.
What Comes Next—Two Likely Scenarios
Based on what we’re seeing, there are two paths MEW could take over the next few weeks.
Scenario one: further downside. If the $0.00055 support fails to hold, expect things to get ugly. A drop toward $0.00045 or even $0.00050 becomes very likely, especially if the broader memecoin market stays weak. Low volume and continued risk-off sentiment would only make things worse. This is the path of least resistance right now.
Scenario two: a short-term bounce. If buyers start to show up—maybe triggered by positive news, a shift in memecoin hype, or just general market improvement—MEW could rally toward that $0.00062 to $0.00063 resistance zone. If momentum really picks up, we might even see a push toward $0.00070. But let’s be real: any gains are likely to be capped unless the moving averages get reclaimed with conviction and volume backs it up.
Managing the Risk
MEW is not for the faint of heart. This is high-risk, high-volatility territory, and if you’re thinking about getting involved, you need to be smart about it.
Keep position sizes small. Expect wild daily swings and don’t be surprised by sharp reversals in either direction. If you’re holding or thinking of entering, set your stop losses just below $0.00050 to protect yourself from a cascading selloff.
If you’re looking to go long, wait for confirmation. That means watching for bullish divergence in the RSI, a moving average crossover, or a volume spike that accompanies upward price action. Don’t try to catch a falling knife.
And pay attention to sentiment. MEW trades heavily on memecoin psychology, so keep an eye on social media chatter, the Fear & Greed Index, and community activity. Shifts in mood often come before shifts in price.
Bottom line: Unless MEW breaks above $0.00062 with real momentum and volume, the trend remains bearish. Oversold conditions might give us a short-term bounce, but the bigger picture—price below key moving averages, negative MACD, broken support zones—all point to continued downside risk. Any real recovery will require both technical reclaiming of resistance and a genuine revival in trader interest. Without that, new lows are absolutely on the table.
