CASHCAT surges 25% as THIS group returns

- Is the current rally built to last?
CASHCAT bulls have stepped in, but traders shouldn't get carried away.
The broader market saw a retraction in the past 24 hours, but a select few tokens are still performing decently. One of them is Cash Cat [CASHCAT], the memecoin that surged 25% within that same window.
While the broader market maintains this bullish outlook, the downside risk still persists, especially when considering the capital liquidated in the market and what it means for the long side that has been dominating.
The perpetual market flow in capital has played a key role in the asset's rally to the upside. At the time of writing, there has been a flow of $7.18 million into the asset, with its netflow rounding up to about $444,730, according to the data at the time of the report.
The positive netflow in this case measures the disparity between the capital that flowed into the CASHCAT perpetual market versus the outflow, likely from sales.
CASHCAT gains support from positive perpetual flows and rising Open Interest, with longs continuing to dominate market positioning.
Liquidations remain closely balanced between longs and shorts, keeping downside risk alive despite the token's bullish momentum.#BTCBreaks$81k #CandyDrop1BTCForOldUsers #NVIDIAEarnings #TopFiveLeaguesPreMatchPredictor #GateStockInsightsChallenge $CASHCAT ‌