Global conferences seem to have laid the groundwork for the new type of investments in cryptocurrencies. Especially with meme coins helping them. Recently, at one such conferences Solana-based meme coin yet again got some attention. Popcat price has been one of the top gainers today, but what exactly happened?
Meme coin analyst’s perspectives established what many are today labeling as the brand-new era of capital redeployment for meme coins. The popular meme coins Popcat has gotten the front row in this new investment phase.
Following Token2049, meme coins have started to rerank themselves. Popcat has garnered significant recognition and revelled a 50% rise in value in mere seven days. This increase is not accidental enhancing, but appears to be directly linked with tactical fund infusions into the segment.
Popcat brought the crypto’s attention in Ethereum community to the ICO phase. What experts call price discovery phase where the price of the asset is determined by speculation and other factors without having reference to previous prices.
Technical Analysis of Popcat Price
Some more details about market data disclosed that Popcat’s rise was equally interesting. They can buy the coin for $1.46: it experienced a 52.98% rise in the past week.
The readers will recall that this growth has been driven by a sharp increase in trading volume. It has increased by 92.56% implying increased investor participation.
In addition, the current market capitalization of Popcat has reached nearly $1.426 billion showing a potential upward trend in the crypto market position.
Based on the price chart below, several technical factors pertaining to Popcat give an insight of its current trend. The coin has kept a steady pace much above the 50, 100 and 200 SMAs, which is a strong buy signal for the traders.
Also, the MACD indicator also shows that the bull run is still persistent, meaning fully supported by positive investor sentiments.
Conversely, the Relative Strength Index (RSI) at 77.65 points to a strong buying pressure leading to the current Popcat further highlighting of boosting upward surge. This situation may occur prior to possible price consolidations or pulls back, which keen investors on the stock will eye.
So What to Expect
There is a lot of excitement about Popcat, and large groups on social networks and also on cryptocurrency platforms focus on the discussion of Popcat as an option to become one of the ‘four greats’ together with BONK, WIF, PEPE, and FLOKI.
This is underpinned by the rest of the market that has remained friendly to memes token as investors look forward to making profits while many see these tokens as projects they believe in.
The current move by Popcat can be said to be participating in an ongoing trend in the market in which meme coins remain outstanding investments within the cryptocurrency space due to their ability to rally from community retail support as well as interest from other investors in larger corporations.
