Popcat (POPCAT) Emerges as Top Cat in Solana\'s Meme Coin Zoo, Notches 180% Gains in 30 Days

Solana's blockchain has witnessed a flurry of meme coins, most of them animal-themed. In a world dominated by dogs, several feline-themed tokens have arrived, with Popcat (POPCAT) standing out from the crowd with 180% gains over the past 30 days.

Solana meme coin Popcat (POPCAT) has registered 180% gains in 30 days, outperforming dog-themed meme coins and piquing the interest of crypto traders.

Fresh off 35% gains over the past 24 hours, cat-themed Solana meme coin Popcat (POPCAT) has claimed a new all-time high of $0.7542 on July 15. The meme coin is now a stone’s throw away from the crypto top 100 rankings, sitting at #108.

Solana Meme Coin Popcat (POPCAT) Surges Past $0.75 With 180% Gains In 30 Days

POPCAT pays homage to the internet meme that featured Oatmeal, a short-haired cat that became a viral hit in 2020. The meme coin has a capped supply of 979,978,694 tokens. This puts the cat-themed crypto in a league that’s not too dissimilar to Dogwifhat (WIF), which has a slightly larger max supply of 998,926,392.

For the first time, the coin has also fetched over $700 million in global market capitalization. The price action has seen traders zoom in on the meme coin, which is now at the doorstep of the top 100 crypto club.

For a more technical perspective, DailyCoin provides fundamental on-chain factors to consider.

How Far Can Popcat’s Bullish Streak Reach?

On X, crypto enthusiasts are drawing parallels between POPCAT and WIF, a massively successful meme coin that peaked at $4.83 during March’s rally.

The demand for Popcat in the Derivatives market seems to be piquing the attention of market watchers, with a 55.08% rise in Open Interest (OI).

While the OI indicator suggests unsettled leveraged positions on POPCAT in the Derivatives market, the overall trading volume has increased by 79% to $174.7M, the data from CoinGlass reveals. In comparison, WIF’s 24-hour Derivatives volume comprises $772M, but with short positions outweighing the longs by 7%.

Popcat’s 24-hour long versus short position ratio stands at 1.04, suggesting that traders of Solana’s meme coin envision a bright future. Judging by the Chaikin Money Flow (CMF) index, further price appreciation is possible due to CMF indicating 0.24, which signifies a positive large-holder money inflow.

On the Flipside

Why This Matters

Meme currencies have been the most successful narrative in Q1 of 2024, outshining other emerging crypto departments like Real World Assets (RWAs) or Artificial Intelligence (AI).

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