POPCAT Price Prediction: Will the SOL-Based Memecoin Regain Bullish Momentum?

POPCAT, one of the latest additions to the Solana memecoin ecosystem, gained much traction last week. As per CoinMarketCap, the memecoin witnessed a whopping 90% price hike.

Solana [SOL]-based memecoin POPCAT left investors surprised with its remarkable performance last week. However, things slowed down in the last 24 hours as the memecoin consolidated.

After a massive bull rally, several investors might be wondering what’s next for POPCAT. Will it once again gain bullish momentum, or should investors expect days of less volatility?

Here’s a look at what happened, what to expect, and how some other Solana memecoins performed last week.

POPCAT’s massive bull rally

One of the latest additions to the Solana memecoin ecosystem gained massive traction last week. As reported earlier by AMBCrypto, memecoin POPCAT witnessed a remarkable bull rally.

Thanks to that, the memecoin soared up the ranks of CoinMarketCap’s list of cryptos. At the beginning of last week, POPCAT was ranked outside the top 500. However, by the 25th of August, the memecoin had become the 84th largest cryptocurrency.

To put things into perspective, the memecoin witnessed a staggering 90% price hike last week. At the time of writing, the memecoin was trading at $0.7459 with a market capitalization of over $730 million.

While POPCAT’s price showcased the bull rally, its trading volume also told a story. According to CoinMarketCap, the memecoin was the 59th crypto by trading volume on the platform.

However, AMBCrypto’s observation of Santiment’s data revealed that investor sentiment around the memecoin changed drastically. After a massive spike on the 23rd of August, POPCAT’s weighted sentiment entered the negative zone, indicating an increase in bearish sentiment.

Moreover, its social volume also took a hit, reflecting a drop in its popularity.

Source: Santiment

What to expect from POPCAT?

One possible reason behind the drop in the memecoin’s social metrics could be the halt in its bull rally. In the last 24 hours, the memecoin’s volatility dropped as its price only surged by 2%.

In fact, our observation of Coinglass’ data revealed a bearish metric. The memecoin’s long/short ratio dropped, indicating that there were more short positions in the market than long positions.

Source: Coinglass

AMBCrypto’s observation of the memecoin’s daily chart revealed that the Chaikin Money Flow (CMF) moved sideways. The Relative Strength Index (RSI) registered a downtick, hinting at a price correction. If that happens, then POPCAT might first drop to $0.64.

A plummet under that mark could result in the memecoin plummeting to $0.36.

Nonetheless, the technical indicator MACD indicated that the bulls were still leading. In the event of a continued price uptick, ten POPCAT might once again touch $0.97.

Source: TradingView

Read POPCAT Price Prediction 2024-25

While POPCAT showcased a 90% rally, other Solana-based memecoins also turned bullish. As reported earlier by AMBCrypto, dogwifhat [WIF] and BONK also witnessed a week of gains.

As per CoinMarketCap, WIF’s price surged by 34% last week. Commencing the week at $1.37, the memecoin was valued at $1.83 by the 25th of August. At the time of writing, WIF was ranked 118th by market capitalization.

On the other hand, BONK witnessed a 17% price increase last week. Commencing the week at $0.0000198, the memecoin was valued at $0.0000206 by the 25th of August. At the time of writing, BONK was ranked 131st by market capitalization.

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