Popcat Token Surges to New Heights on Solana network
Popcat, a popular meme coin on Solana, hit its highest point since March 3 on Tuesday. The POPCAT token reached $0.2722,almost doubling from its lowest point this year. Its market cap soared to $254 million, ranking it sixth among Solana’s meme coins.
Popcat’s rise mirrors the recovery of other meme coins. Fartcoin, dogwifhat, Peanut the Squirrel, and cat in a dogs world have all seen over 20% growth in the past week. this surge reflects a broader trend in the meme coin market.
Third-party data reveals a 10% drop in tokens held on exchanges. Now, 237.85 million POPCAT tokens are on exchanges, down from 24.24% of the total supply.Fewer tokens on exchanges suggest investors are moving to self-custody, a bullish sign.On-chain data from Nansen shows strong investor confidence. The moast profitable trader made nearly $2 million and holds 99% of thier tokens. Another trader with $121,000 in gains is also holding 99% of their holdings. This shift indicates a positive outlook. The token’s price chart shows a double-bottom pattern, a classic bullish signal. If this trend continues, POPCAT could reach $0.50,a 100% increase from current levels. The Relative Strength Index and Percentage Price Oscillator point to a bullish divergence. Though, failing to hold recent gains could signal a potential downturn.
Popcat’s price climbed nearly 100% from its yearly low. This move could push the price to $0.50. But, caution is advised as failure to maintain gains may lead to a drop.
- popcat’s market cap hit $254 million.
- Exchange holdings fell by nearly 10% in a week.
- Technical analysis shows a potential rally to $0.50.
Popcat’s price chart indicates a sustained downtrend since November’s peak of $2.07. The token bottomed at $0.1590 earlier this month. A sustained uptrend could see it reach $0.50.
Popcat’s success is part of a larger meme coin recovery.
