 surged over 12%, surpassing a $1 billion market cap with a 35% increase in trading volume. The token's rise is linked to Bitcoin's rally and has gained 6,000% since its launch in December 2023.){kind=link}
Popcat ($POPCAT), a meme-based cryptocurrency, is making waves in the crypto market. According to CoinGecko, Popcat surged 14.5% within the last 24 hours, reaching $1.05 and surpassing a $1 billion market capitalisation.
Currently trading at $1.03, the token has seen a remarkable 12% gain, with a market cap now at $1,006,335,191. The trading volume in the last 24 hours also jumped by an impressive 35%, signalling a growing interest in the token.
Popcat Surges with Growing Market Sentiments
Popcat’s rise is closely linked to broader market movements. The token gained significant traction on September 19, 2024, following Bitcoin’s (BTC) surge past the $63,000 mark. This rally renewed hopes of a bull run in the cryptocurrency market, pulling Popcat along.
Since its launch in December 2023, Popcat has posted an astonishing 6,000% increase in value, making 2024 a standout year for the meme coin.
Popcat is also becoming more and more well-liked on decentralised exchanges, or DEX. Popcat and Solana (SOL) combined for a trading volume of $43.35 million, according to GeckoTerminal, making it the second-largest pool on DEX platforms.
The price chart exhibits a robust upward trend, instilling confidence among investors. Popcat may hit $2 before the end of the year, according to some market analysts, while others warn that it may find it difficult to sustain its pace at $1 before experiencing any more growth.
Adding to its upbeat outlook, data from Velo reveals rising interest in trading Popcat. Few traders are placing bets against the meme coin, and funding rates are still favourable. These data point to potential growth for Popcat as it continues to draw interest from investors.
The Growing Attention for Memecoins
Popcat and other meme coins are becoming more prevalent in the cryptocurrency world. As they demonstrate genuine potential for market success, cryptocurrencies that started as whimsical or “fun” are now reaping significant profits. Popcat’s ascent serves as a shining illustration of how meme currencies may attract investors and yield large profits.
Nevertheless, investors should exercise caution despite Popcat’s recent success. Memes are particularly prone to abrupt swings in value, and the bitcoin market is notorious for its volatility. Even though Popcat has grown enormously, its price could alter at any time.
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