Popcat (POPCAT), a Solana-based memecoin, has been making waves by reaching a fresh all-time high (ATH). This gain has attracted investors’ attention. POPCAT price posted 30% gains within the past seven days, alongside the volume surge.
POPCAT’s investors have enjoyed the bullish rally as the altcoin formed a new ATH. The high demand, sustained increase, and ongoing uptrend have resulted in POPCAT crypto marking this achievement.
POPCAT Price Soars To New Highs: What’s Next?
POPCAT price noted a surge of over 20% and showed a three-day bullish streak, marking a new $1.26 ATH mark. With a low correlation of 0.33, the POPCAT crypto made it possible to defy the market trend and ride the bullish wave.
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The technical analysis from the daily timeframe shows that the POPCAT token has increased since the beginning of October. It took support at its 20-day EMA mark and witnessed a sharp rebound.
This week, the upward movement led to a new ATH. The recent price surge indicates that the memecoin could reach the $2 mark in the next few weeks.
POPCAT price was trading at $1.22 at press time, with an intraday decline of over 0.89%. With a market cap of $1.20 Billion, the memecoin was positioned as the 60th largest crypto.
Analyst Insights on POPCAT Cryptocurrency
Cryptocurrency Analyst @AltcoinSherpa, in a tweet on X, said that POPCAT crypto has broken out of a range and looks substantial. The upward continuation might push the memecoin toward the $2 mark in the coming sessions.
Another positive commentary on X shared by @VikinXBT said that the POPCAT token gained strength. It will soon reach the $2 Billion market cap.
Furthermore, most of the technical indicators represented a bullish stance. The RSI curve spiked to the overbought zone, 75 at press time. It reflected a rising buying pressure, indicating further uptrend continuation ahead.
Source: Coinalyze
Moreover, the rising curve of the Money Flow Index (MFI) hinted that significant inflows surge in the market drive upward movement in the altcoin. The MACD indicator showed a green histogram replicating the bullish crossover. This replicated the buyer dominance.
For the last three months, POPCAT crypto has attempted a $1 breakout but has been unable to and stuck close to it. A recent surge made it possible to cross the barrier, and a massive breakout was noted.
Typically, range breakouts may lead to a one-way rally, so the POPCAT price may soon push the rally toward the $2 level.
What Futures Market Data Indicates?
The OI-weighted funding rate stayed positive, 0.0138%, at press time. A positive funding rate indicated a growing demand for long positions.
Likewise, the Open Interest (OI) rose 6.43% to $190.19 Million. This conveyed prolonged buildup activity over the last 24 hours.
Source: Coinglass
The immediate support levels were $1.15 and $1.10. At the same time, according to the Fib extension tool, the upside barriers were $1.30 and $1.38.
