Whale Buying POPCAT Amid Listing Announcement
- WBOYOriginal
- 2024-08-23 03:15:08700browse
This crazy buying signals that POPCAT could experience a significant rally in the upcoming days.
Binance, the world’s largest crypto exchange, announced the launch of Popcat (POPCAT) perpetual contracts on August 22, 2024. Following this announcement, a crypto whale withdrew 39,816 SOL ($5.73 million) from Binance and purchased nearly 10 million POPCAT tokens, according to a recent analysis by Wu Blockchain.
A large amount of SOL was moved from Binance to an unknown wallet. After checking the wallet, it was discovered that the whale had purchased nearly 10 million POPCAT tokens.
?A large amount of SOL was moved from Binance to an unknown wallet earlier today. After checking the wallet, we can confirm that the whale bought nearly 10M $POPCAT tokens.
This crazy buying signals that POPCAT could experience a significant rally in the upcoming days. At press time, it is trading near $0.574 and has experienced a price surge of over 32% in the last 24 hours. Meanwhile, POPCAT’s trading volume has skyrocketed by 225% during the same period, indicating rising participation from traders following the listing announcement.
Moreover, its open interest also increased by 35% in the last 24 hours, indicating growing interest from investors and traders, according to on-chain analytic firm CoinGlass.
POPCAT Price Prediction For August 2024
As reported by an expert technical analysis, POPCAT looks bullish and is now heading toward a crucial resistance level of $0.643. However, the last time when POPCAT reached this level, it experienced a price drop of over 40% and fell to the $0.38 level.
This time, the sentiment for POPCAT is bullish, and the daily chart is forming a bullish double-bottom price action pattern. If it closes a daily candle above the $0.69 level there is a high possibility it could soar by 40% to $1 or even higher.
Major Liquidation Level
As of now, the major liquidation levels are near $0.542 on the lower side and $0.60 on the upper side, as traders have been highly leveraged in the last 24 hours, according to CoinGlass.
If the sentiment remains unchanged and the price rises to the $0.60 level, nearly $672.84K worth of long position will be liquidated. Conversely, if the sentiment shifts and the POPCAT price falls to the $0.542 level, nearly $1.34 million worth of short position will be liquidated.
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