Popcat Token surges as Investors Buy the Dip
Popcat, a popular Solana meme coin, has seen a significant rebound. The token has climbed for four straight days, hitting $0.25, its highest as March 25. This represents a near 100% increase from its lowest point this month.
The surge is part of a broader trend where crypto enthusiasts are snapping up undervalued Solana meme coins like Fartcoin, goatseus Maximus, Fartboy, and Vine. Data from Nansen reveals that Popcat tokens are increasingly being moved from exchanges to personal wallets.Exchange reserves have fallen by nearly 10% in the past week, from 262 million to 239.5 million.
Most of this movement has been from platforms like Bybit, Raydium, and Coinbase. A decline in exchange reserves is a positive sign, indicating that more investors are holding onto their tokens for the long haul.
Further evidence of this bullish sentiment comes from the top Popcat traders. The most profitable trader has made $173,000 and still holds 97% of their position. Many othre traders are also keeping their tokens.
Technical analysis shows that Popcat’s price has bounced back after forming a falling wedge pattern. The token has moved above its 50-day moving average, with indicators pointing upwards. This suggests that Popcat could continue to rise, perhaps reaching the 23.6% retracement level at $0.5982.
