Highlights:
- Popcat price sees a 55% spike in 24-hour trading volume.
- Open interest rises by 12.94%, signaling heightened market activity in POPCAT.
- POPCAT price maintains bullish momentum with a 100% monthly price rise.
Popcat (POPCAT), a cat-themed altcoin, has surged significantly over the past 24 hours following increased market activity. The cryptocurrency, inspired by a viral meme, is hovering above a crucial support level, indicating strength amid a broader market recovery.
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This bullish momentum suggests potential for further gains in the near future, as investor confidence grows. Market sentiment appears positive, supporting the token’s upward trend as the recovery continues across the crypto sector.
The price of the meme coin Popcat is showing a strong bullish trend. As of the reporting time, the POPCAT price is trading around $1.37, surging more than 10% during the U.S. time frame. The Meme coin reached a daily low of $1.20 and a high of $1.39, indicating volatility.
According to CoinMarketCap data, current the market cap is at $1.34 billion, with an increase of 8.59%. The 24-hour trading volume reached $146 million, marking a significant 55% rise, indicating growing investor interest.
Can Popcat Price Maintain Its Bullish Momentum?
Popcat price has emerged as one of the top-performing Solana-based memecoins in the current cycle. Despite launching in December 2023, the token has seen impressive gains, securing the #56 spot in market capitalization rankings. It now stands as the third-largest Solana memecoin and leads cat-themed tokens, with a remarkable 8,357% surge since its launch.
The token hit a new all-time high on October 12th, followed by a brief decline. The daily chart shows steady growth since September 6, with upward momentum strengthening after a breakout from a symmetrical triangle pattern.
Popcat broke the $0.65 resistance on September 13, propelling the price to a peak of $1.54 this week. While the price dipped in the following days, it has since stabilized.
The Popcat price increased by over 6% in the past week, with a monthly rise of 100%. Despite minor retracements, the trend remains bullish, signaling strong potential for upward movement.
According to Coinglass data, Popcat (SOL) price has experienced a significant surge in derivatives trading activity. Volume rose by an impressive 74.80%, reaching $823.56 million, reflecting growing interest from traders.
Additionally, open interest increased by 12%, totaling $216.66 million. These figures suggest investors are taking more positions, indicating heightened market activity and potential volatility. The rising volume and open interest point to sustained momentum, with market participants closely watching the token’s future movements.
Can POPCAT Price Hit $1.6 By End Of October?
The meme coin price is testing a key resistance level at $1.4, indicating potential upward movement. If the bullish trend persists, the price could reach $1.5, possibly rising to $1.54, revisiting previous highs. Increased buying pressure could push Popcat to $1.6 in the coming days.
On the other hand, if the bearish sentiment strengthens, Popcat may drop to the support level at $1.35, with further declines to $1.3. If selling pressure continues, a deeper correction could see the price slip to $1.25. Investors should closely watch these key price levels to anticipate possible market moves.
The technical indicators for POPCAT suggest potential upward movement as the price tests key resistance levels. The Moving Average Convergence Divergence (MACD) on a 4-hour time frame shows a potential bullish crossover as the MACD line crosses above the signal line. The Awesome Oscillator (AO) reflects a gradual shift in momentum, supporting the possibility of a further price increase.
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