Popcat (POPCAT), the Solana blockchain-based meme coin, has made a major surge to the 56th spot by market cap, surpassing rivals like TIA and OM. The token has seen a 9% surge in the past 24 hours, driven by improved community sentiment and a significant increase in open interest in futures. Trading volume has also surged 56%, reflecting increased investor interest, while it has jumped 98% in the past month, catching the attention of the crypto community at large.
CoinMarketCap data suggests that investor sentiment remains largely positive on Popcat’s future. The coin’s recent price surge coincides with a 21% increase in open interest in the futures market over the past 24 hours, according to CoinGlass data.
Additionally, the number of Popcat holders has surpassed the 80,000 mark. Technically, the 1D chart of POPCAT/USDT shows that the price is trading above the middle Bollinger Band, indicating a continuation of the uptrend. The Relative Strength Index (RSI) has also declined to around 60, giving room for further gains before reaching the overbought zone.
What lies ahead for POPCAT? Analysts are closely watching Popcat’s price action. The analyst known as “Trading Tank” has pointed to a key resistance level at $1.54, which is the neckline of the bullish double bottom pattern. If the price breaks through this level, it could reach new highs in the short term, with potential targets ranging from $1.9250, $2.3850, and $3.310.
Technical Analysis Despite this, POPCAT has seen some price corrections alongside major coins like Bitcoin and Ethereum. To maintain the upward momentum, the price must remain above $1.1735, as a drop below this level could lead to a significant pullback. Overall, the coin combines strong community support, high open interest, and positive technical indicators, making it a prominent contender in the cryptocurrency landscape.
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