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Popcat [POPCAT] has staged a remarkable comeback, rising 15.37% in the last 24 hours to trade at $0.4199, after hitting a local high of $0.429. This price jump coincides with a sharp uptick in trading volume, which surged 84.8% to $72 million. Overall market activity reached $389.7 million, signaling heightened investor interest.
The increase in volume points to renewed buying pressure, especially in the spot market where buyers accumulated 4.79 million tokens in the past day. A positive order imbalance of 48,000 further confirms the bullish bias. Popcat’s Exchange Netflow remains negative, suggesting sustained accumulation as withdrawals continue to outpace deposits—marking a clear shift toward long-term holding.
Futures Market Signals Strong Bullish Bias
Bullish sentiment isn’t limited to the spot market. In the derivatives market, Open Interest (OI) has climbed 14.5% in just 24 hours to hit $157 million, reflecting strong capital inflows. Traders are predominantly taking long positions, as seen in the consistently positive funding rate.
In fact, 52% of active futures accounts are currently long on Popcat, showing that the majority of traders anticipate further gains. This optimistic outlook is supported by broader market data, with investors repositioning for a potential breakout from the recent downtrend.
Technical Indicators Hint at Breakout Potential
Popcat appears to be breaking out of a descending pattern after successfully bouncing from the $0.35 support level. According to AMBCrypto’s technical analysis, the memecoin is approaching a bullish RSI crossover—a strong signal of continuing upward momentum.
Also Read: Coinbase Adds PENGU & POPCAT, Sparking Price Jumps and Surge in Trading Volume
If the trend holds, Popcat could soon flip its 21-day moving average at $0.4491, a key resistance level. Surpassing this would pave the way for a move toward $0.47. However, holding above the short-term moving average of $0.41 is crucial. A drop below could invalidate the current rally and trigger a correction toward $0.387.
For now, sentiment remains bullish—and all eyes are on whether Popcat can maintain its momentum and solidify its breakout.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
