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The Popcat price has jumped by 85% in the last 24 hours to trade at $0.03498 as of 8:33 a.m. EST.
Based on the 30-minute POPCAT/USDT chart, we see an upward trend. This is indicated by the price action’s higher highs and higher lows.
30-minute POPCAT chart | Source: TradingView
The Bollinger Bands (the shaded area and the blue boundary lines) are expanding, indicating high market volatility. The price has been trading near the upper Bollinger Band, which often signifies that the market is considered overbought.
The Relative Strength Index (RSI) is above 50 as it heads for the 70 level, which indicates a strong bullish momentum but also suggests that the market may soon be overbought again. A reading above 70 does not necessarily mean a reversal but warrants caution for potential pullbacks on the Popcat price.
The Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), and the histogram bars are above the zero line, both indicating bullish momentum. However, the histogram shows a decrease in height, which might suggest that the bullish momentum is weakening.
On the other hand, the Awesome Oscillator (AO) histogram is green and appears to be increasing in height, suggesting that the market momentum is bullish on the Popcat price.
Looking at recent price actions, the most recent candles are green and sizeable compared to the previous red candles, suggesting that the buying pressure has been intense in the most recent periods. The chart shows a recent high at around $0.038, which could be seen as a resistance level. Should bulls break past the level, a pump will be imminent.
Meanwhile, as the Popcat price pumps, Sponge V2 is emerging as another excellent meme coin alternative with analysts ranking it among the top presales of 2024.
An Attractive Alternative
SPONGE V2 is the successor to Sponge V1, which returned 100x last year. Staking the previous V1 token is mandatory for acquiring the new SPONGE V2 token, which is introducing gaming applications. The staking initiates automatic token bridging.
💸🛌 Earn passive #SPONGEV2 rewards just by staking your $SPONGE!
Enjoy over 40% APY and watch your holdings grow.
It's never been easier! 🧽💦🙌 #CryptoStaking #MemeCoin #Alts pic.twitter.com/N0z2n4W9is
— $SPONGE (@spongeoneth) January 10, 2024
Those aspiring to obtain SPONGE V2 yet lacking V1 can do so by adhering to the outlined procedures on the Sponge website for purchasing V1 and subsequently staking in the bridge contract.
Justin Sun’s Interest in Meme Coins
News of Tron founder Justin Sun’s shift into meme coins last year boosted sentiment when it emerged that he had bought Sponge currently worth around $123k.
In May 2023, Sun vocalized his ambition to acquire attractive meme coin projects.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
Jacob Crypto Bury, addressing his 26K YouTube subscriber base, is optimistic about Sponge V2, estimating it has the potential to 30x on launch. With the listing expected to be imminent, there’s no time to lose if you are interested to buy this token.
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