Solana-based meme coin Popcat has surged by 13% prior to now 24 hours. It has outperformed widespread meme cash Shiba Inu (SHIB) and PEPE, which have gained by 9% and eight%, respectively, throughout the identical interval.
At present buying and selling at a brand new all-time excessive of $1.74, POPCAT reveals robust momentum and seems positioned to increase these features. This evaluation delves into components that would gas its continued rise.
Popcat Bulls Are in Management
BeInCrypto’s evaluation of the POPCAT/USD one-day chart confirms the chance of an prolonged rally. Readings from the meme coin’s shifting common convergence/divergence (MACD), which measures an asset’s worth developments and identifies its potential purchase or promote indicators, verify this bullish outlook.
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The coin’s MACD line (blue) at present sits above each the sign line (orange) and the zero line. This positioning signifies a bullish pattern, suggesting upward momentum within the asset’s worth. Because the faster-moving MACD line outpaces the slower sign line, it displays robust shopping for curiosity which will assist continued worth will increase.
Furthermore, POPCAT’s Aroon Up Line is at 100% as of this writing, confirming the power of the meme coin’s present uptrend. The Aroon indicator measures the power and course of a pattern. When the Up Line is at 100%, it means that the asset’s worth has simply made a brand new excessive.
POPCAT Value Prediction: Meme Coin Might Report New Peaks
If bullish momentum is maintained, POPCAT’s worth could prolong its rally and surge previous the all-time excessive of $1.74. In keeping with its Parabolic Cease and Reverse (SAR) indicator, the bulls at present dominate the meme coin market.
At press time, this indicator’s dots, which establish an asset’s pattern course and potential reversal factors, relaxation beneath POPCAT’s worth. When the Parabolic SAR dots are positioned underneath an asset’s worth, it means that the asset is having fun with upward stress and the pattern is bullish. Merchants interpret this as a sign to go lengthy and exit brief positions.
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Nevertheless, if profit-taking exercise resumes, POPCAT’s worth could witness a correction and search to determine assist at $1.42. If this degree fails to carry, the meme coin’s worth could plunge to $1.17, representing a 33% fall from its present worth.
Disclaimer
In step with the Belief Undertaking tips, this worth evaluation article is for informational functions solely and shouldn’t be thought-about monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market situations are topic to alter with out discover. All the time conduct your individual analysis and seek the advice of with knowledgeable earlier than making any monetary selections. Please be aware that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.
