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Cryptocurrency News Articles
Popcat (POP) Price Prediction 2023-2025: Will POP Hit $10 Soon?
Oct 24, 2024 at 01:03 pm
Popcat price has gone vertical, making it one of the best-performing coins this year. It has risen in the last three consecutive days, hitting a record high of $1.68 and bringing its valuation to over $1.6 billion.
Popcat price surged on Thursday, making it one of the best-performing coins in the last 24 hours. It flipped Bonk to become the second-biggest Solana meme coin after Dogwifhat.
Popcat price surged sharply on Thursday, continuing its recent bullish trend. The token rose to a record high of $1.68, bringing its valuation to over $1.6 billion. This surge saw it flip Bonk to become the second-biggest Solana meme coin.
Here’s a closer look at Popcat’s price surge and some key highlights.
Popcat surge accelerated
We predicted Popcat’s surge, which was driven by its popularity among investors. This is evident in the rising number of holders, which now stands at over 77.7k, significantly higher than the low of 65,000 recorded last month. Notably, the top-ten wallets hold only 20% of the total supply of the meme coin.
Popcat price surged as its volume in both centralized and decentralized exchanges jumped. According to data from CoinGecko, its volume on Thursday morning was over $146 million. In the past few weeks, it has averaged over $120 million. Bybit exchange handled the highest volume of the token, followed by Gate.io, Raydium, and Orca.
Further data showed that Popcat’s futures open interest surged sharply in the past few days. It had $277 million in open interest, a record high. This marks a significant increase, considering that its open interest was less than $20 million in August this year.
Typically, a higher open interest figure is bullish for a cryptocurrency as it signifies more demand from traders.
Another interesting observation was the massive shorts liquidations in the past few days. On Thursday, there were shorts liquidations worth over $618,000 compared to bulls at $62,000. When there are shorts liquidations, it means that traders who bet against the token had their positions closed.
Other tokens in the Solana ecosystem also surged, with Cat in a dogs world token rising by 20% in the last 24 hours, while GOAT and Book of Meme soared by over 20%.
Meanwhile, Solana’s role in the DEX industry surged, with the seven-day volume increasing by 36% to over $14.7 billion. In comparison, Ethereum handled less than $8 billion.
Popcat price formed a bullish pennant pattern
After forming a bullish pennant chart pattern, the rally in Popcat token occurred. The pattern consists of a long flag pole and a triangle pattern. Currently, the token is trading above the upper side of the triangle and the flag pole at $1.5535.
Popcat price remains above the 50-day moving average, while oscillators such as the Relative Strength Index (RSI) and MACD are both pointing upwards.
As a result, the path of least resistance for the token is bullish, with the next point to watch being at $2.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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