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The Solana-based memecoin Popcat (POPCAT) has been making the headlines for the past week after becoming the first cat-themed token to reach a $1 billion market cap. The token has surged over 230% in the past month, which propelled the token to a new all-time high (ATH). However, a crypto analyst has warned investors of [...]
The post Analyst Warns Of A POPCAT Correction Following 230% Surge appeared first on Crypto Breaking News.
BitMEX has announced the launch of the POPCATUSDT perpetual swap, offering traders up to 10x leverage, according to the BitMEX Blog. (Read More)
BitMEX announces the listing of POPCATUSDT perpetual swap with up to 10x leverage, starting 24 July 2024. (Read More)
On Monday, popular internet figure and trader Roaring Kitty made a surprise comeback to social media that sent the crypto market into shock and excitement. His return post was followed by a series of cryptic videos, including catsm, which seemingly fueled a price increase for cat-themed memecoins in the past 24 hours. Related Reading: On A Tear: Toncoin Outshines Bitcoin With Price Surge And Social Buzz Memecoin Frenzy And Market Reaction Keith Gill, known as The Roaring Kitty, returned to social media after a three-year hiatus by posting the popular leaning forward in the chair meme. pic.twitter.com/YgjVqtgcNS — Roaring Kitty (@TheRoaringKitty) May 13, 2024 His comeback propelled GameStops meme stock (GME) price to rise 201% in the past day, as he was a major player during the 2021 meme stock frenzy. Alongside the image, the trader shared a series of video edits that also fueled the memecoin market. As reported by News BTC, Wolverine-inspired memecoins soared after featuring the Marvel character in one of his edits. Other big players in the sector saw green numbers in the following hours, like Pepe (PEPE) and many of the top market cap dog-themed memecoins. As part of the ripple effect, the largest frog-themed memecoin has flipped Solana (SOL) in its daily trading volume, registering a 238% increase in volume in the past day. Moreover, smart traders benefited from the surge after buying large token amounts. According to Lookonchain, one whale bought 195 billion PEPE, worth $1.98 million, and had already made $236,000 in unrealized profit a few hours later. Dog Days Are Over, Cat-Themed Memecoins Gain 16% The impact of Roaring Kittys return didnt stop at the dog-themed memecoins. Several images and references to cats were part of the traders edits, fueling a 16% surge in the cat-themed sector. Feline-inspired memecoins have been gaining popularity during this cycle, with tokens like cat in dog word (MEW) and Popcat (POPCAT) joining the top-ten memecoins list in the past month. One of Roaring Kittys edits included a fragment of Florence + The Machines song Dog Days Are Over. Alongside the video, the trader emphasized the lyrics, The dog days are over, the dog days are done. pic.twitter.com/TdmJom9ifu — Roaring Kitty (@TheRoaringKitty) May 13, 2024 Additionally, he added cat images, seemingly insinuating that a future memecoin rally could be led by cat-themed memecoins instead of the usual dog-themed ones. Whales Hear The ROAR Lookonchain reported that, alongside GME, the memecoin Roaring Kitty (KITTY) skyrocketed 13,000%. Other feline-themed tokens, including POPCAT, MichiCoin (MICHI), and Roaring Kitty (ROAR), also saw a significant surge. Popcat has registered a 24.4% and 276% increase in the one-day and monthly timeframes, while MichiCoin surged 38.9% in the past day and 333.5% since its launch on April 26. Both tokens also saw an 80% increase in the daily trading volume. Among the top gainers were the tokens inspired by the trader. The Ethereum-based SOAR skyrocketed over 1162% in hours, going from $0.00024830 to $0.0031338. This surge also represented a massive 3216.8% increase in the weekly timeframe, with a similar daily trading volume increase of 826%. Per the report, whales took advantage of the momentum and loaded their bags with these tokens. One whale withdrew SOL from Binance and bought 490,400 POPCAT, worth around $235,472. Related Reading: No Ties To OpenAI: Worldcoin Drops 9% As Top Trader Issues Warning Another big player, who had previously made 2,170 SOL, about $320,000, on POPCAT, spent another 4,000 SOL, approximately $592,000, to buy POPCAT and MICHI tokens. The whale acquired 587,3830 POPCAT for 2,000 SOL and 626,616 MICHI for the same amount. Featured Image from Unsplash.com, Chart from TradingView.com
POPCAT has reignited excitement in the market as buyers stepped in at the crucial $1 support level, halting the recent pullback and fueling hopes for a renewed rally. This strategic rebound underscores the tokens resilience and growing bullish momentum, setting the stage for a potential climb toward new heights. With market sentiment shifting and technical indicators flashing promising signals, the question arises: Can POPCAT sustain this upward push and reach fresh milestones? Lets dive into the technical indicators and market dynamics driving this pivotal moment. Technical Indicators Signal Strength: A Closer Look At POPCAT Chart The 4-hour Relative Strength Index (RSI) shows a resurgence of upside strength as the RSI signal line has successfully climbed out of the oversold zone. This recovery suggests a shift in market sentiment, with buyers gradually regaining control. Currently advancing toward the 50% mark, this movement reflects increasing optimism in the market. Should the RSI breach this midpoint, it could signal the strength of the upward momentum, setting the stage for POPCAT to rally toward key resistance levels and solidify its recovery trajectory. Related Reading: POPCAT Nears Breakout Towards New ATH, But Analysts Warn Of Possible Correction Also, a closer examination of the 1-day RSI shows a noticeable reversal, as the RSI signal line is now rising toward the 50% threshold after recently dropping to 40%. Significantly, this shift also implies that selling pressure may be subsiding, with buyers starting to regain control. As the RSI indicator moves into neutral territory, the market could be poised for a trend change. If the RSI continues to climb, this could signal a strengthening bullish trend, offering POPCAT an opportunity to build momentum and challenge higher price levels. Critical Resistance Levels In Focus For New Heights As the meme coin rebounds from key support levels, the focus now shifts to the critical resistance levels that could determine its next move. POPCAT at the $1 mark has proven to be a strong foundation, but the token must overcome key resistance zones for it to reach new heights Related Reading: Solana Memecoin Market Thrives: POPCAT Reaches New Record Price Of $1.75 With technical indicators demonstrating increasing bullish momentum, POPCATs price is now approaching the 100-day Simple Moving Average (SMA). A move above this key indicator could spark a rally toward the $1.5 resistance level. If POPCAT successfully breaks through this resistance, it could set the stage for an extended price surge, potentially propelling the token to even higher targets. Traders will be watching closely to see if these critical levels can be surpassed, paving the way for continued upside. However, should POPCAT fail to break above the 100-day SMA, it may experience a decline, possibly heading back toward the $1 mark. A drop below this key support level could trigger a bearish continuation, with the price likely to drop to the $0.8 support level and other ranges. Featured image from Medium, chart from Tradingview.com
POPCAT has achieved a remarkable milestone by surging past its all-time high of $1.0094, igniting excitement among traders and investors alike. This breakout signals a powerful bullish momentum, prompting a re-evaluation of the asset’s potential for further gains. As the market reacts to this significant price movement, understanding the underlying technical factors and market dynamics [...]
The post POPCAT Surges Past $1.0094 All-Time High Whats The Next Price Target? appeared first on Crypto Breaking News.
Multiple market watchers suggest that memecoin sensation Popcat (POPCAT) is about to rally towards a new all-time high (ATH). As the token attempts to reclaim key resistance levels, some analysts warn the cat-themed memecoin could see a correction soon toward its monthly opening. Related Reading: Ethereum (ETH) About To Catch Up On BTC, Is It Ready To Reclaim $3,000? Popcat Retest $1.4 Resistance Level Memecoin sensation Popcat has been one of the best-performing cryptocurrencies over the past three months. Despite the market retraces, the token outperformed most cryptocurrencies, becoming the first cat-themed memecoin to achieve a $1 billion market capitalization. In the last 30 days, Popcat has seen a 108% surge, hitting three new ATHs since breaking the $1 barrier. After reaching its latest ATH of $1.56 a week ago, the cryptocurrency has been on a 7-day downtrend. The memecoin unsuccessfully attempted to break above the trendline earlier this week, facing a correction toward the $1.2 support level. Popcat bounced 16.6% from this zone on Thursday, propelling the tokens surge toward the $1.3 resistance level. On the last day, the cryptocurrency retested the trendline twice after surpassing the $1.4 mark. A successful reclaim of this zone could propel the price toward a new ATH. A market watcher considers that if Bitcoins price holds, Popcat should successfully break this level by next week. It’s worth noting that the cat-themed token followed BTCs lead on Friday morning, surging 2.4% as the flagship cryptocurrency neared the $69,000 mark. Is A Correction Looming? Crypto analyst Sanchez noted that the memecoins price was running flat in the four-chart on Friday morning. To the analyst, the cat-themed tokens performance looked good for another leg up but suggested the possibility of another correction ahead of the breakout. Ideally, we get a good reaction around ~1.29 to make the C more complete, and the cat starts popping again A drop from the $1.3 mark could send Popcats price toward the $1.1-$1.0 mark. Trader Crypto Tony suggested that the cryptocurrency could see a retest of the monthly opening of around $1.01 in case of a rejection. Despite the correction forecast, the memecoin has seen a 7% increase in the last 24 hours, trading 8.7% below its ATH. Popcat reclaimed the $1.3 mark and is attempting to confirm the breakout and regain the $1.4 resistance level. Related Reading: Polkadot (DOT) Gearing Up For Massive Breakout, Will It Skyrocket To $20? Analyst CryptoGodJohn stated that the cryptocurrency looks like it wants new ATHs and beyond this weekend following its recent performance. Additionally, crypto trader Bluntz noted that Popcats price could achieve a 30% surge toward a new all-time high. To Bluntz, a rise toward the $1.7 mark might be coming short-term after getting real close to a biddable level this week, but would like to see one more sweep. As of this writing, Popcat trades at $1.41, an 8.3% surge in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
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