Popcat (POPCAT) Cryptocurrency Soars To New Highs: What's Next?

Popcat (POPCAT), a Solana-based memecoin, has been making waves by reaching a fresh all-time high (ATH). This gain has attracted investors

Solana-based memecoin Popcat (POPCAT) has made a new all-time high (ATH) to the delight of its investors. POPCAT price has registered a 30% gain over the last seven days, accompanied by a surge in volume.

Altcoin's new ATH comes amid a bullish rally, high demand, and sustained uptrend in POPCAT crypto.

POPCAT Price Surges To New Highs; Where To Next?

POPCAT price showed a 20% surge and a three-day bullish streak to the new $1.26 ATH mark. With a low correlation of 0.33, POPCAT crypto managed to defy the market trend and ride the bullish wave.

A technical analysis on the daily timeframe showed that the POPCAT token began rising from its 20-day EMA mark and witnessed a sharp rebound.

This upward movement led to a new ATH this week. The recent price surge indicated that the memecoin could reach the $2 mark in the coming few weeks.

POPCAT price was trading at $1.22 at press time, showing an intraday decline of 0.89%. The memecoin ranked as the 60th largest crypto with a market cap of $1.20 Billion.

Analyst Take on POPCAT Cryptocurrency

once a coin breaks out of the range, you want to see continuation. Ofc this is going to depend on $BTC but I think that $POPCAT still looks strong. wouldn't be surprised to see it go to like $2 or something to be honest pic.twitter.com/23EIHzmqsS

“popcat $popeat broke out of the range and it looks massive, continuation should take this memecoin to $2 or something crazy like that within the coming sessions.”

Another bullish commentary on X was shared by @VikinXBT, “$POPCAT$2B mcap and nothing less, and that's within the next week please.”

Moreover, a majority of the technical indicators depicted a bullish outlook. The RSI curve spiked to the overbought zone, trading at 75 at press time. It reflected a rising buying pressure, indicating further uptrend continuation ahead.

Source: Coinalyze

Rising curve of the Money Flow Index (MFI) hinted at significant fresh inflows into the market driving the upward movement in the altcoin. The MACD indicator showed a green histogram replicating the bullish crossover, replicating the buyer dominance.

For the last three months, POPCAT crypto has attempted a $1 breakout but has been unable to and stuck close to it. A recent surge made it possible to cross the barrier, and a massive breakout was noted.

Usually, range breakouts lead to a one-way rally, so the POPCAT price may soon push the rally toward the $2 level.

What Did Futures Market Data Suggest?

OI-weighted funding rate stayed positive at press time at 0.0138%. A positive funding rate indicated a growing demand for long positions.

Meanwhile, the Open Interest (OI) rose by 6.43% to $190.19 Million, conveying prolonged buildup activity over the last 24 hours.

Source: Coinglass

Immediate support levels were at $1.15 and $1.10, while Fib extension tool noted the upside barriers at $1.30 and $1.38.