Date: Fri, Sept 13, 2024, 07:47 AM GMT
Popcat (POPCAT), the Solana-based memecoin, is gaining momentum in the cryptocurrency market, showing a promising bullish trend. Over the past 24 hours, POPCAT has risen by 3.10%, and over the last week, it has surged by an impressive 27.70%.
Two major factors are driving this recent spike in POPCAT’s price:
1) Kraken Listing:
Kraken, a well-known cryptocurrency exchange, announced yesterday that it will be listing POPCAT on September 19. This news has generated significant excitement among traders, who anticipate increased liquidity and trading volume once the listing goes live.
📅 A sneak peek at next week’s listings*:
— Kraken Pro (@krakenpro) September 12, 2024
Sep 19th – 15:00 PM UTC$POPCAT$GFI$KUJI (geo expansion)
👀 Roadmap updates every Thursday ⤵️https://t.co/hv1TlhIJJf
*Geographic may restrictions apply pic.twitter.com/Ppsfxynkg4
2)Whale Buying:
According to a report by Lookonchain, a whale who previously made $1.47 million from trading POPCAT has just made another big move. In the past three hours, this whale spent 1.6 million USDC to purchase 2.36 million POPCAT at $0.68 per token. Earlier this year, between April 21 and April 26, the same whale bought 6.05 million POPCAT for 1.84 million USDC and then sold it on September 5 for 3.31 million USDC, netting a profit of $1.47 million.
Current Market Status:
Currently, POPCAT is trading at $0.66, after finding crucial support at the $0.49 level. The next key resistance level to watch is $0.75, and if POPCAT can break through, it could see even more significant gains in the coming days.
Technical indicators show that the current Relative Strength Index (RSI) is 57.99, with an RSI-Based Moving Average (MA) of 47.99. These figures suggest that POPCAT is gaining momentum, but still has room to grow before reaching overbought territory.
As POPCAT continues to gain traction, the upcoming Kraken listing and strategic whale buying could further fuel its upward momentum.
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