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The Popcat price pumped over 11% in the last 24 hours to trade at $1.05 as of 7:12 a.m. EST as investors go long on the altcoin.
With the recent surge in the POPCAT price, the crypto’s market capitalization has soared to above $1 billion.
The Popcat Price Overcomes A Negative Trend Line
4-hour chart for POPCAT/USDT (Source: GeckoTerminal)
The Popcat price has broken above a short-term negative trend line and is now attempting to flip the resistance level at $1.0861 into support. Overcoming this barrier might then give POPCAT the room needed to climb to as high as $1.1897 in the following 24 hours.
However, the Popcat price getting rejected by the $1.10861 mark could stop the altcoin in its tracks. In this alternative case, the crypto could drop to back below the aforementioned negative trend line. This might subsequently lead to a test of the immediate support at $0.9772. Continued sell pressure at this point could then lead to POPCAT plunging to $0.8682.
Technicals Suggest Buyers Are Still In Control Of The Popcat Price
From a technical standpoint, indicators on POPCAT’s 4-hour chart suggest the crypto’s value could keep rising through the course of the next 24 hours. Buyers seem to have an upper hand, as signaled by the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators.
Over the last few hours, RSI readings have spiked. Traders usually see this as an indication of bullish strength. Although the RSI line has started to level off, its current value in the low 60s suggests that buyers are still in control.
POPCAT also entered into a positive trend in the last couple of hours. This is evident by the MACD line’s break above the MACD Signal line during this period. With the gap between the two lines growing, it seems the crypto’s bullish momentum is intensifying as well.
If these technical signs influence traders’ decisions in the coming 24 hours, then POPCAT could soon breach the $1.0861 mark.
While POPCAT tries to build some room between its price and the negative trend line that has held it down, the presale for layer-2 meme coin Pepe Unchained (PEPU) is closing on $17 million in funds raised.
Meme Coins To Receive Their Biggest Upgrade Yet
Meme coins have flooded the crypto market this year, with many of these tokens rewarding investors handsomely. This surge in new tokens has placed a massive computational burden on multiple blockchains, including the Ethereum, TON and Solana networks. Investors and crypto holders have had to pay the price, and put up with high fees and slow processing times.
Pepe Unchained (PEPU), through its layer-2 chain, aims to alleviate the processing burden that meme coins place on these major blockchains.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
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🐸Builder GrantsPepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
Initially, the project will focus on the popular frog-themed PEPE token. By moving PEPE off of the Ethereum mainnet, lovers of the meme coin will be able to enjoy a 100-fold increase in transaction speeds as well as be able to send and receive crypto at a fraction of the cost using PEPU.
Once Pepe Unchained has enhanced PEPE, it will open up its computational capacity to both current and future meme coins. It will therefore usher meme coins into a new and more scalable era.
In addition to eventually becoming the de facto blockchain for meme coins, the Pepe Unchained team has started accepting applications for its developer grant initiative. This will most likely lead to the launch of several decentralized applications on the network, which could also bring a substantial amount of utility to the lighthearted sector of the crypto space.
Early Buyers Joined By A Crypto Whale
Investors are flocking to Pepe Unchained’s ongoing presale to buy at pre-listing prices. Even a whale recently scooped up $51,000 worth of the meme coin using 19.69 Ethereum (ETH). This purchase has helped pushed the total raise to $16.74 million, signaling investors’ confidence in the project’s future.
Analysts and experts also anticipate great things for the meme coin. Popular YouTuber ClayBro recently shared his bullish price predictions for PEPU in a video to his 130K subscribers.
Anyone can still purchase PEPU before it hits the market using the simple buy widget embedded on the project’s website. The token is selling for $0.0099, and can be bought using either ETH, USDT, BNB or bank card.
After each purchase, investors can also lock up their tokens through the staking page to get in on an impressive 128% Annual Percentage Yield on offer to buyers at this early stage.
Purchase and stake PEPU here for 128% in annual rewards.
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