POPCAT has secured its position as the fifth-largest meme coin by surpassing BONK. The coin’s value has climbed to $1.66, showing a 12.6% increase in 24 hours and 23.3% over the last week. Its market cap now stands at $1.63 billion due to increased whale activity and speculative interest.
POPCAT flipped BONK and entered into top 5 memecoins. Source: CoinGeckoPOPCAT is part of the growing Solana-based meme coin market, which recently hit $11.7 billion in valuation. Investors are increasingly moving their holdings off exchanges, suggesting a bullish outlook for the token. Whale accumulation has also contributed to the coin’s upward momentum, positioning it strongly against competitors like BONK and FLOKI.
Why is POPCAT Crypto Rising?
POPCAT’s rise is tied to increased activity from whale investors, who have been buying significant amounts of the token. Many of these investors are moving their holdings off centralized exchanges, which suggests confidence in POPCAT’s future performance. This trend often indicates that investors are holding onto their coins, expecting further price increases.
POPCAT’s price increase also follows increased futures trading activity. Its open interest rose to $257.3 million, an increase of 17.96%.
POPCAT’s future open interest rose to $257.3 million. Source: CoinGlassThe token’s daily derivatives volume exceeded $929 million, driven by leveraged positions. Solana’s low transaction fees and high-speed infrastructure have further boosted POPCAT’s performance in the market.
Solana’s blockchain infrastructure has also played a key role in POPCAT’s success. With fast and affordable transactions, Solana has become a preferred platform for meme coins, attracting both retail and institutional investors.
Technical Analysis and Price Prediction
POPCAT’s technical indicators suggest further bullish potential. The coin has experienced a bullish EMA crossover, indicating upward momentum.
POPVAT/USD Daily Price Chart With RSI and EMA. Source: TradingViewIts Relative Strength Index (RSI) is currently at 72.18, signaling an overbought condition. This may trigger short-term volatility, but continued buying pressure could push the price toward $1.80 and potentially $2.00.
Trading data shows liquidations skewed towards short positions, reflecting a strong bias in favor of buyers. Additionally, token’s rising trading volumes and market cap suggest that the bullish trend could persist.
The post Solana’s POPCAT Flips BONK to Become Fifth Largest Memecoin appeared first on CoinChapter.