Last Updated on 2 days by cryptoevent

CateCoin price is down 35% over the past day despite BTC and ETH being green on the day as a CATE news announcement angered investors.

The CATE price chart is now a broken parabola, a bearish pattern – after moving about 750% higher since mid-July. The price action is similar to the pump and dump that CateCoin had between November and December 2021.

Why is CateCoin going back?

The official CateCoin Twitter account built a “Big News” event that ended up being just the acquisition of a dot.com website domain – Catecoin.com matching Dogecoin.com.

The announcement was also repeatedly postponed to create excitement, with the CateCoin team making a final statement that the news would take CateCoin price “to new heights.”

Many investors started dumping their CATE tokens and responded that the CateCoin project was a scam or carpet pulling before and after the announcement.

Will CateCoin be listed on Binance?

CateCoin has hinted that a Binance listing for their cat-themed meme coin project is in the works as early as May 2021. This month they tweeted:

“As planned. We deposited 1% of the supply into the Binance wallet for future @binance listings. We send this amount from our Exchange Liquidity wallet. Please note that @Binance does not charge for listing.’

However, a CEX listing for an altcoin ranked 2796 on CoinMarketCap with a market cap below $50 million and a self-reported circulating supply is unlikely. Over the past year, CATE price action has also failed to show sustained growth – CATE is currently trading below its first tracked price on CMC.

The Tamadoge presale is nearing the $1 million mark

It’s not clear if CateCoin investors are investing in other meme coins, but millions of dollars have been wiped from CateCoin’s fully diluted market cap over the past 24 hours.

In other meme cryptocurrency news, the beta sale for the latest meme coin, Tamadogehas raised nearly $1 million in the past week.

Tamadoge (TAMA) has a low supply of 2 billion compared to the 100 trillion CATE and is deflationary, with a 5% token burn on Tamadoge store transactions – players of this upcoming NFT game will use it to purchase their virtual Doge pets to feed.

Both coins are played to earn tokens, but TAMA doesn’t have a built-in transaction tax like CateCoin, another key difference.

Quick reminder that Tamadoge is TAX FREE pic.twitter.com/ozO14Ffpfz

— Tamadoge (@Tamadogecoin) July 28, 2022

A third positive point is that the team has already confirmed a CEX listing on LBank for after its launch in Q4 2022 as well as on Uniswap DEX. CateCoin has been listed on relatively few exchanges for a crypto project older than a year.

Several Reddit threads over the past few weeks have questioned whether CateCoin is a scam coin, and today’s CATE price crash following the website domain announcement will do little to calm investor fears.

Related

• Dogecoin falls out of the top 10 coins
• New meme coin Tamadoge starts beta pre-sale
• Where to buy Tamadoge

Post CateCoin Price Drops 35% As No Binance Listing Announced, appeared first on Business 2 Community.

https%3A%2F%2Fwww.business2community.com%2Fcrypto-news%2Fcatecoin-price-drops-35-as-no-binance-listing-announced-02533725