Hoppy (HOPPY) Meme Coin Rallies 18,000%, Targets Tier-1 Listings as Market Cap Hits $100M

The Hoppy token continued its strong rally, reaching a record high of $0.0002890 on Friday, Oct. 18.

Hoppy (HOPPY) token?, a meme coin on the Ethereum (ETH) blockchain, continued its record-breaking rally on Friday, reaching a new all-time high with a surge of over 18,000% from its lowest point in June. This impressive performance has made it one of the best-performing cryptocurrencies, boasting a market capitalization of over $109 million.

According to data from CoinCarp, Hoppy's growing popularity is evident in the increasing number of holders. The meme coin now has over 3,600 users, with the top ten holders collectively owning 42% of the total supply. This strong demand for Hoppy has also driven its daily trading volume to a record high of $14.7 million this week.

The token's impressive rally could attract the attention of tier-1 exchanges like Binance, Coinbase, and OKX, potentially leading to an increase in Hoppy holders.

Moreover, data from CoinGecko indicates that most of Hoppy's trading activity occurred on Uniswap (UNI), a decentralized exchange (DEX). Among the centralized exchanges (CEXs) that have listed Hoppy are MEXC, Bitmart, and BingX.

Hoppy's surge aligns with broader gains in other Solana and Ethereum-based meme coins. According to CoinMarketCap, tokens like Cat in a dogs world, Book of Meme, Mog Coin, Brett, and Dogecoin were among the best-performing cryptocurrencies last week. This performance has contributed to an increase in the total market capitalization of meme coins to $61 billion.

Hoppy Token Surges Past Key Resistance in Record-Breaking Rally

A closer examination of Hoppy's price action reveals a strong surge past the key resistance level of $0.0002080, which marks its highest point on July 24. This level is significant as it forms the upper boundary of a cup and handle pattern, a widely recognized technical indicator of a bullish continuation.

The token's strong momentum is further evidenced by its sustained trading above the 50-day moving average, indicating that the bulls are largely in control. However, some caution may be warranted as technical oscillators, such as the Relative Strength Index and the Stochastic Oscillator, have moved into the overbought territory.

This observation suggests that a pullback could occur, potentially retesting the support level at $0.0002080 before the bullish trend resumes its momentum.

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