In a surprising twist in the crypto landscape, while major players like Bitcoin and Ethereum are experiencing declines, the Solana-based memecoin POPCAT (SOL) has emerged as a standout performer. It recently hit an impressive all-time high of $1.67, marking a remarkable increase of over 24.63% from a previous low of $1.34 within just 24 hours.
This surge follows a brief dip earlier in the week, hinting at a renewed wave of buying interest that has driven POPCAT to its peak.
The recent price movement indicates a significant turnaround from the earlier bearish trend, particularly when looking at the relationship between POPCAT’s price and the Chaikin Money Flow (CMF) indicator, which tracks the movement of capital in and out of an asset.
Currently, the CMF is on the rise, sitting comfortably above the zero line at 0.05, which suggests robust buying momentum. This alignment between the price of POPCAT and the CMF reinforces the strength of the ongoing rally.
