ZAZU is a new meme token that exists on the Solana Blockchain with an anonymous team behind it. 

The project is similar to other meme tokens, however, it’s currently moving in a downward trend since yesterday. 

Although it was just launched two days ago, the popularity of this project started going up, even prompting some Degen Twitter Accounts to talk about it. 

Will ZAZU Go Up Again?

ZAZU is currently trending on Twitter with accounts like “100xfinder” mentioning that it will go up more than 100x in the next couple of days. 

This seems hard to believe, as the price movement is currently trending downward, which worries its holders, causing more selling pressure in the last couple of hours. 

However, these meme token experts seem to know something that most traders don’t which is the on-chain data and the token transfer history. 

Most analysts are saying that this project is clear from any potential rug pull happening anytime soon, as the allocation and the token’s vesting period seem to be pretty safe. 

Looking at the fundamentals of this token, the statement above seems a bit too positive as the project itself does not hold any value. 

There are no products attached to it and no information about a roadmap for its plans, similar to other meme tokens. 

But that does not stop traders from trading this token, as the holder count of this token seems to have risen to around 5,000 today. 

The narrative that this project is trying to capitalize on is the cat-themed meme token narrative, which is currently popular in the meme sector. 

While a project does not have any fundamental value, it can still go up if it has any cat-narrative attached to it, as evident from other rising meme tokens. 

Price Analysis 

Looking at the hourly timeframe, it can be seen that the token has no real momentum yet, but one thing can be noted as a sign of a potential reversal. 

ZAZU’s Hourly Chart / Source: Dexscreener

The token has just dropped significantly after there was a clear sign of a double top pattern on the hourly timeframe. 

Usually, after a huge correction after that pattern appears, there is a potential for the price to recover, but it will take a while. 

Currently, the token is still trending downwards, but there is a small sign of bullish momentum as the token tries to break out of its current downtrend. 

Looking at the price, ZAZU is a safe token to buy into after the price breaks out of the $0.0028 resistance zone, as a break from that zone can indicate a new bullish movement. 

The current condition is not looking good, but things can change, especially if the team decides to change the images on its official site, from only being an art to full-on NFT or a soul-bound token for an airdrop. 

These plans are still not out of the picture yet, as most meme tokens nowadays can create a product all of a sudden to push its token upwards, as evidenced by DEGEN, a meme token that turned itself into a layer three blockchain. 

To sum up, it is still possible for ZAZU to go up, but in the short run, it seems that the momentum is still far off. 

Investor Caution 

While the meme hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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