Popcat (POPCAT) Hits New All-Time High, Surpassing Bonk (BONK) and Floki (FLOKI) in Market Cap

Popcat (POPCAT) rose 17.8% over the past day, exchanging hands at $1.66 when writing. The meme coin's price also appreciated 80.3% over the last 30 days

Meme coin Popcat (POPCAT) continues to soar, hitting a new all-time high and surpassing popular meme coins Bonk (BONK) and Floki (FLOKI) in terms of market capitalization.

According to the latest data from CoinGecko on Oct. 24, POPCAT is now the 67th largest cryptocurrency with a market cap of $1.61 billion, a significant increase from the $457 million reported in September.

The price of POPCAT has surged 17.8% over the past 24 hours and is trading at $1.66 at the time of writing. The meme coin has also appreciated 80.3% over the last 30 days.

The surge in POPCAT’s price coincides with a jump in its futures open interest, which has risen from $46.91 million at the beginning of September to reach an all-time high of $274.8 million.

Meanwhile, on X, one community member observed that several whale wallets have been accumulating the memecoin.

They pointed to at least three whale wallets that picked up notable amounts of the token in the past 24 hours, while one whale was found to be selling BONK for POPCAT.

The rally comes amid reports of meme coin outflows from centralized exchanges, as highlighted by crypto.news previously.

Typically, such outflows are considered a bullish signal, indicating that investors are choosing to hold onto their tokens for a longer duration rather than engaging in short-term trading.

All these factors have contributed to pushing the cat-themed meme coin to become the leading gainer among the top 100 cryptocurrencies, surpassing BONK and FLOKI in terms of market cap on Oct. 24.

BONK, which has declined over the past seven days, had a market capitalization of $1.56 billion, while FLOKI, a meme coin hosted on Ethereum, was down 0.8% over the past 24 hours with a market cap of $1.4 billion.

On the 1D POPCAT/USDT chart, the Moving Average Convergence Divergence indicator shows a bullish crossover, with the MACD line (blue) crossing above the signal line (orange), signaling potential sustained bullish momentum.

The Average Directional Index at 37.48 further confirms that the current trend is strong, and the price could push higher.

Several analysts remain optimistic about Popcat’s short-term prospects.

According to pseudo-anonymous market analyst Bluntz, Popcat recently broke out of an ascending channel.

The breakout from this price pattern is a strong indication of continued price growth, as it shows sustained buying pressure overcoming previous resistance within the channel.

One trader, using the handle NW CRYPTO, speculated that the meme coin could face resistance at $0.2768, which is about 18.7% above the current price level.

According to the trader, if bulls are able to push the price past this resistance, the next targets could be $0.7416 and $1.4926.