Popcat Pumps

Popcat recently pumped by up to 18% in the past 24 hours. It climbed from a $0.5418 low to a $0.6419 high before locking 14% of its gains at the $0.62 range by 7:35 AM UTC.

The price of Popcat (POPCAT) has surged by up to 18% in the past 24 hours, making it one of the top gainers among the meme coins.

The Solana (SOL)-based meme coin experienced a surge in trading volume during the period, with over $115.15 million worth of its token moving between addresses.

The latest developments boosted the market cap of the 979.97 million POPCAT in circulation to $606.28 million, according to data from CoinGecko.

A review of the charts shows that Popcat rose by over 4% in the one-week frame, 2% in the one-month stretch, and an astounding 3,726% in the one-year period.

Despite the gains, the token is still 38% away from its nearly a dollar all-time high of $0.9976 two months ago.

Several factors could have contributed to Popcat’s recent price surge.

One possible reason is the recent resurgence of Bitcoin (BTC) to the $57K territory in the past couple of hours. As the prime cryptocurrency, BTC has been the measure of crypto market sentiment since its inception. So, its effect on the Solana (SOL) meme coin couldn’t be discounted.

In addition, the token’s recent launch on Binance Futures helped build positive sentiment toward it. Last Aug. 22, the crypto exchange introduced its USD-margined POPCAT perpetual contracts. This went alongside the launch of a similar instrument under the SUN ecosystem.

The POPCATUSDT perpetual contract offers up to 75x leverage and a maximum funding rate of +2.00% / -2.00%. Holders can trade the product 24/7 on the Binance platform.

Popcat, as with any other meme coin, is a cryptocurrency forged under the Solana chain and is based on a viral meme. It features a white-furred domestic cat named Oatmeal in various facial expressions. The pose where the feline had its mouth open has gained so much popularity that it has been adopted as the official logo of the Popcat token.

The meme’s impact on Internet culture eventually led to several games featuring Oatmeal’s likeness. These included point-and-click and tile-matching games on Windows-based computers and mobile devices.

The Popcat token has no known utility besides being a popular subject in the meme space and a speculative investment.