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The Popcat price has surged 25% in the last 24 hours to trade at $0.7624 as of 9:15 p.m. EST on a 3.5% drop in trading volume to $154 million.
This price rise comes in response to Binance Futures’ listing of a perpetual contract for POPCAT, providing traders with up to 75x leverage.
Following this listing, a major whale moved over 39,800 SOL, valued at more than $5.7 million, from Binance to buy 10 million POPCAT tokens.
This significant transaction was a key driver behind the sharp increase in Popcat’s value.
Crazy buying of $POPCAT!
After #Binance announced the launch of $POPCAT perpetual contracts, a whale withdrew 39,816 $SOL($5.73M) from #Binance to buy 10M $POPCAT!https://t.co/smN6cNogIo pic.twitter.com/E3zMHy6Qoh
— Lookonchain (@lookonchain) August 22, 2024
Popcat Price Analysis: Bulls Initiate A Rally Above The Bullish Pennant
The recent bullish pennant breakout suggests that the price will likely continue its upward trajectory. The price recently formed a bullish pennant pattern, characterized by consolidation following a strong upward move.
According to GeckoTerminal data, the current price is approximately $0.7618, and given the strength of the breakout, the next key resistance level to watch is around $1.00. This level represents a psychological barrier and a significant target after the breakout.
POPCAT/USD Analysis Source: Dextools.io
The price is trading above both simple moving averages 50 at $0.6187 and the 200-day at $0.3718. These provide strong support levels, indicating an overall bullish trend. The bullish trend will likely persist as long as the price remains above these moving averages.
Furthermore, the RSI, currently at 63.73, indicates that there is still room for upward movement before the asset enters the overbought territory. This suggests the price could rise to the next resistance level before any significant pullback occurs.
Additionally, the MACD indicator shows a bullish crossover, with the MACD line (blue) crossing above the signal line (orange), indicating a shift in momentum to the upside. The histogram is positive, reinforcing the bullish sentiment.
POPCAT/USD is in a continued upward movement with the potential to reach $1.00, assuming the bullish momentum holds. With support from the support zones and the technical indicators, bulls may be able to drive the price to a new high at $1.25 in the coming days or weeks.
In a converse case, a failure to maintain momentum could result in the price retesting support levels at $0.6187 or even $0.3718 as bears apply downward pressure.
Crypto All-Stars Blasts Past $700k – Best Crypto To Buy Now?
Another meme coin that investors are flocking to buy is Crypto All Stars (STARS), which has raised more than $717k in its presale.
STARS positions itself as a key player in the evolving crypto landscape by establishing a centralised hub for meme coin staking.
Unstoppable, All-Stars! 🌟
We’ve just soared past $700K! pic.twitter.com/z65aGUm0Y4
— Crypto All-Stars Customer Support (@all_stars_coin_) August 23, 2024
At its core, Crypto All-Stars combines traditional meme coin appeal with a new twist, incorporating a play-to-earn mechanism and a unique staking protocol known as the MemeVault.
The MemeVault allows users to earn $STARS tokens by staking popular meme coins, including Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, and more.
This innovative strategy streamlines the staking process for users and fosters a mutually beneficial relationship between $STARS and these meme coins.
Popular YouTuber Crypto Zeus says STARS has ”big potential” and highlights its unique staking system.
Stakers can earn an impressive 2,041% annual yield, and already more than 360 million $STARS tokens have been staked.
New Crypto All Stars Meme Coin with 5000% APY Premarket Launched!! Tutor… https://t.co/4qpMwEyihL via @YouTube #presale #crypto #presalealert #memes #memecoins #memecoin #pepe #doge #dogecoin #PEPEUNCHAINED #purpe #solana #shiba #shibashootout #Bitcoin #fatty #cryptoallstars pic.twitter.com/i4gmuWQ55D
— Alessandro De Crypto (@A_D_Crypto) August 14, 2024
Investors interested in buying STARS should do so before a price hike in a little more than 2 days. The token is currently priced $0.0014022.
Purchase $STARS here using BNB, USDT, or a bank card.
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