Popcat Price Jumps 68% as Bitcoin Hovers at $60K Support Level

The crypto industry was mixed on Tuesday morning as some tokens rebounded by double digits while others remained under intense pressure.

Crypto prices had mixed fortunes on Tuesday morning, with some tokens seeing double-digit gains while others remained under pressure. Bitcoin hovered around the crucial support level of $60,000, while Ethereum traded at $3,370.

Among the top gainers, Popcat price soared by over 68% to reach $0.4250. The token's rally took place amid high trading volume, with the 24-hour figure surging to over $46.7 million.

Farcana price also saw a significant surge of over 120% after the developers clarified that their smart contract and wallets were not compromised, despite a report that a partner had been.

Jeo Boden price soared by over 57%, while Mog Coin (MOG), Tooker Kurlson (TOOKER), and Lista DAO (LISTA) tokens also saw gains of over 25%. Other top performers included Fetch.ai, MAGA, Nosana, and Doland Tremp.

This rebound came in contrast to Monday's sharp decline, where most tokens took a hit after Bitcoin briefly fell below the crucial support level of $60,000. The broader market sell-off occurred amid growing fear, as indicated by the fear and greed index moving into the fear zone of 45.

The market shift also coincided with a risk-off sentiment among investors, evident in the stock market. Nvidia, a key driver of the recent stock market rally, experienced a decline of over 10% from its all-time high, entering a correction phase. Additionally, the tech-heavy Nasdaq 100 index underperformed the Dow Jones.

However, investors appeared to be buying the dip in crypto, considering the significant declines of over 50% from YTD highs experienced by several altcoins.

Despite the gains, there was a risk that the rebound could be a "dead cat bounce." This concept suggests that even a dead cat will experience a brief bounce when dropped from a high height. Typically, these bounces are short-lived and lead to further declines.

As a result, there was a possibility that tokens like Popcat, Mog Coin, and Lista DAO could continue to rise on Tuesday before eventually resuming the bearish trend.

Both Popcat and Mog Coin are rapidly growing meme coins, boasting market caps of over $417 million and $507 million, respectively. Meanwhile, Lista DAO is a prominent DeFI protocol with over $538 million in total value locked (TVL). The protocol enables users to borrow and stake tokens to generate returns.

News source：https://www.kdj.com/cryptocurrencies-news/articles/popcat-price-jumps-bitcoin-hovers-k-support-level.html

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