After months of struggling to pass the $1 threshold, Popcat finally surged to $1.08 then back to $1.01. This upward movement pushed the Popcat market cap beyond $1 billion
As Popcat struggles to maintain the $1 mark, it briefly surged to $1.08 before settling at $1.01. This upward movement brought Popcat’s market cap to $1 billion. The increase in market cap is attributed to the combination of Popcat’s price and circulating supply, which both play a role in determining the total market value of the cryptocurrency.
Despite a slight pullback in price, Popcat still performed remarkably well overall. The rising price, coupled with a stable supply, will continue to drive Popcat’s market cap up.
Moreover, Popcat’s Open Interest (OI) reached a new peak of 93.52 million. Open Interest measures the number of outstanding contracts in the market and serves as a key indicator of market activity. An increase in OI generally suggests that new money is entering the market.
Technical indicators also provide insights into potential price changes for Popcat. The Bollinger Bands (BB), which measure price fluctuations, have expanded as the price touched $1.08, indicating that Popcat is currently overbought.
Additionally, the Relative Strength Index (RSI) for Popcat has climbed above 70, further confirming that the token is overbought. The RSI is a technical indicator used to assess whether an asset is overbought or oversold. When the RSI rises above 70, it indicates that a price correction may occur.
Based on these indicators, the Popcat price could see a decrease to $0.90, and if selling pressure intensifies, the price could drop further to $0.76.
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