Popcat (POPCAT) Meme Coin Mania Emerges on the Solana (SOL) Network

Cat-themed meme coin Popcat has emerged as a popular crypto project on the Solana blockchain with more than 64k holders.

Meme coin mania continues to sweep the Tron (TRX) network, bringing more speculative investors into the top-rated projects. Solana (SOL) network maintains its lead in meme coin development, with its memes currently boasting a market cap of approximately $6.2 billion and a daily average traded volume of around $1.3 billion.

Among the top-tier memes on the Solana network are dogwifhat (WIF), Bonk (BONK), BOOK OF MEME (BOME), and Popcat (POPCAT), to name a few.

Cat-themed meme coin Popcat has become a popular crypto project on the Solana blockchain, with over 64k holders. The Popcat meme coin has a market cap of approximately $552 million and locked liquidity of over 10 million.

Listed on major centralized exchanges, the Popcat meme coin has seen its daily average traded volume surge by 134 percent over the last 24 hours, reaching around $145 million on Thursday during the early New York session.

Earlier today, the leading cryptocurrency exchange by daily trade volume and globally registered users announced the listing of the POPCATUSDT Perpetual Contract on its platform. Notably, Binance will offer traders up to 75x leverage on the Popcat futures market.

As Popcat continues to gain traction among speculative traders, the underlying asset's value has spiked by over 30 percent today, trading around $0.559. However, the Popcat price against the USD is still facing challenges.

From a technical perspective, Popcat’s price needs to regain the 50-day Moving Average (MA) as a support level to invalidate the macro reversal. Additionally, the meme coin has been forming a potential head and shoulders (H&S) pattern in the daily time frame, coupled with bearish divergence on the Relative Strength Index (RSI).

Moreover, the weekly RSI shows that Popcat has been in overbought territory, especially after rallying around 100x since January this year.

The above is the detailed content of Popcat (POPCAT) Meme Coin Mania Emerges on the Solana (SOL) Network. For more information, please follow other related articles on the PHP Chinese website!