The CHEWY price surged 497% in the last 24 hours to trade at $0.0000000001105 as of 03:29 a.m. EST on trading volume that skyrocketed 1,151% to $21.3 million.
This comes after Keith Gill, better known by the handle Roaring Kitty on X, revealed that he had taken a significant stake in the pet retailer’s stock. After the reveal, Chewy shares jumped 11% before turning negative to trade down more than 6% by the close of trading on Monday.
Last week, Gill had foreshadowed the Chewy holdings in a post on X that was simply a dog emoji.
pic.twitter.com/jQBMX4jwjR
— Roaring Kitty (@TheRoaringKitty) June 27, 2024
After the post on Thursday, the CHEWY price soared to as high as $0.0000000001868, before dropping to the $0.0000000000110 support zone, data from GeckoTerminal shows.
The support level has since soared after the Monday news, surging to an all-time high of $0.0000000001933, before dropping again to $0.0000000000318. CHWY has since been on an upward trajectory, with highs and lows fluctuating within an ascending triangle pattern.
CHEWY Price Could Soar Over The Ascending Triangle Pattern
CHWYUSD Chart Analysis Source: GeckoTerminal.com
The CHEWY price trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish stance. The two SMAs offer the price of CHEWY at the immediate support levels of $0.0000000000898 and $0.0000000000490, respectively.
Moreover, the Relative Strength Index (RSI) is trading above the overbought region, which is an indication of continued investor optimism.
According to the CHWY price analysis on the 15-minute chart, bulls are currently on strong bullish momentum, as they aim to push the token over the ascending triangle pattern.
The 50-day SMA trades above the 200-day SMA, forming a golden cross at $0.0000000000564, which the bulls could capitalize on to keep pushing the token up. In such a scenario, the token could soar to a new ATH at $0.000000000298.
However, in an inverse scenario, the ton being overbought could drive the token through a distribution phase, which could drive the token to retrace back to the $0.0000000000898 (50-day SMA).
Meanwhile, as investors rush to buy CHWY, so they are also flocking to acquire a new Solana meme coin called Sealana (SEAL) before it launches on decentralized exchanges (DEXs) in less than 4 hours.
The token has had massive traction in the crypto community, garnering over $6 million in funding.
According to Crypto Boy, a popular crypto analyst on YouTube, the token has the potential to surge 100X after launch.
Sealana To Launch Imminently – Last Chance To Buy
Sealana is a Solana-based meme coin that features a chubby seal mascot inspired by South Park’s notorious “World of Warcraft guy.” A character once sleek and agile is now messy and obese, with an insatiable appetite for junk food as he obsesses over finding the next big Solana meme coin.
New Meme Crypto ‘Sealana’ Attracts Whales As Solana Price Recovers.
#SolanaMemecoin pic.twitter.com/zqP73U7Mk3
— TechStory (@TechStoryin) May 5, 2024
Originally a purely Solana-based token, Sealana has expanded to become multichain, offering a BNB-chain version of the token and allowing purchases on Ethereum.
Now is your last chance to book your seat on the Sealana rocketship before trading starts on decentralized exchanges at 1pm UTC today, July 2.
To participate in the presale, visit the official website to buy SEAL tokens here. One $SEAL costs $0.022.
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