POPCAT, a Solana-based meme coin, recently hit a new all-time high of $1.67, reflecting a 24.64% rise. Over the past 24 hours, it has also seen a 31% increase in open interest in the futures market.
While leading cryptocurrencies like Bitcoin and Ethereum are experiencing declines, POPCAT has emerged as a top performer, climbing from a low of $1.34 to its peak of $1.67. This 24.63% surge follows a brief dip earlier in the week, indicating renewed buying interest that has driven the coin to its highest level.
This recent uptick marks a significant recovery from a previous bearish trend, as reflected in POPCAT’s Chaikin Money Flow (CMF) indicator, which tracks capital inflows and outflows. The CMF is currently trending upwards, well above the zero line at 0.05, signaling strong buying momentum and supporting the ongoing rally.
Current Market Trends for POPCAT
As of now, the token has slightly retraced to $1.62 but remains above key support levels. According to Coinglass data, the 31% rise in open interest in the futures market points to increased trading activity.
POPCAT Price Chart (Source: TradingView)
The Relative Strength Index (RSI) is around 57, suggesting there is still room for growth before reaching overbought levels. Additionally, POPCAT is trading above its 9-day Exponential Moving Average (EMA), indicating that buyers remain in control, potentially driving further price increases.
If the current momentum holds and demand continues, POPCAT could surpass its recent peak of $1.67 and aim for the $2 mark. However, investors should be cautious, as profit-taking might lead to a dip below key support, pushing the price down to $1.1975. POPCAT is expected to trade within the range of $1.25 to $1.42 through the end of October.
