For me, it comes down to psychology and holder distribution, mostly
Everyone in cryptocurrency knows about Nubcat, and it also has a strong presence on "normal social media".
But many traders don't want to touch it, because there has been no clear upward trend for a long time - so far, the holder distribution of Nubcat has been burdened by whale suppression
Once these sellers are washed away, prices can move more freely – I believe that the relative strength of $NUB during the washout period we saw yesterday is evidence that whales have completed or nearly completed sales
In other words, I think $NUB has been in the long process of curating the distribution of holders while becoming increasingly notorious
I believe that price action alone will help generate interest in Nubcat once Nubcat's holder allocation allows Nubcat to rise in a bullish market
Since everyone knows about nubcat, I believe this will have a snowball effect that can quickly drive price increases in the right environment
I do believe that as long as the bulls continue, we're close to that environment
I see a lot of similarities with $PEPE (about the chart), but on a smaller scale (pepe is more famous globally than nubcat)
There is no specific catalyst that causes Pepe to start moving in February 2024 – it comes down to Pepe's holders distribution reaching a point that makes it rise in a very bullish macro environment
This has apparently generated a lot of interest and FOMO due to Pepe's notoriety, which has consistently increased prices
I think we'll see a similar story played alongside $NUB - any other possible catalysts would be rewards
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