Date: Mon, March 17, 2025 | 04:53 AM GMT
The cryptocurrency market is showing early signs of recovery, with Bitcoin (BTC) rebounding from its weekly low of $76,000 to trade around $83,000. After months of steep corrections in the broader market, memecoins—especially Solana-based Popcat (POPCAT)—have taken a heavy hit, plummeting by 80% in the last 90 days. This dramatic decline highlights the extreme volatility in the memecoin sector.
However, as the market stabilizes, POPCAT has started to show encouraging signs of a rebound. Over the past week, it has posted notable gains after holding strong at key support zones.
Interestingly, the token is now forming a V-bottom pattern—a classic bullish reversal structure that often signals the beginning of a trend shift.
V-Bottom Setup
POPCAT was one of the earliest tokens to ride the Solana-based memecoin wave, surging +857% to reach its all-time high of $2.08 on November 18, 2024. However, the euphoria was short-lived, as the token entered a deep correction phase, plunging 93% from its peak.
Now, POPCAT appears to have found strong footing at $0.14—a crucial support zone (marked in green). This level has become a base for a potential rebound as buyers slowly regain control. The token is currently trading around $0.19, showing early signs of forming a V-bottom pattern.
If this pattern fully plays out, the next key step for confirmation would be:
- A break above the 50-day moving average (50 MA).
- Overcoming the $0.30–$0.38 resistance zone, which remains a key hurdle.
A decisive breakout above this area would confirm a trend reversal, likely triggering fresh buying interest and further upside potential.
Final Thoughts
POPCAT has suffered steep corrections but is now making an effort to reclaim lost ground. The formation of a V-bottom pattern suggests that the worst may be over, but confirmation is still needed. A successful break above the 50-day MA and key resistance zones would signal a shift in momentum and validate the recovery.
Until then, caution remains necessary. However, if bulls take charge from here, POPCAT could be on the path to a stronger recovery phase in the coming weeks.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any investment decisions.