Popcat Hits All-Time High with $1 Billion Market Cap
As of September 25, the Solana-based memecoin POPCAT reached a record high, surpassing the $1 billion market cap. The coin was up by 10% over the past day, trading at $1.02, with its peak reaching $1.07. This surge in price has positioned POPCAT as the 82nd cryptocurrency by market cap on CoinGecko, with a daily trading volume of around $136 million.
Whales Dive into Popcat Amid Bullish Sentiment
Recent data from CoinMarketCap shows a bullish sentiment surrounding Popcat, with whales showing interest in the meme coin. One investor scooped up $1.3 million worth of POPCAT at $1 on the same day, indicating growing confidence in its potential. Popcat’s open interest on Coinglass has also increased by 13%, reaching an all-time high of $106 million, suggesting a rise in trader engagement and driving the coin’s rally.
Impending Correction for Popcat’s Price Surge
With Popcat nearing the upper Bollinger Band and its Commodity Channel Index spiking to overbought levels, caution is advised among traders. If the coin breaks above the $1.070 resistance level, it could continue to climb towards $1.2. Conversely, failure to maintain support levels may lead to a decline, with the middle Bollinger Band at $0.7482 acting as the first support zone. Traders should monitor critical levels for potential consolidation or increased volatility.
